This document discusses the rapid adoption of voice assistants and the opportunities they present for financial services firms. It notes that voice assistant usage has increased significantly in recent years, especially among younger demographics, and is expected to continue growing quickly. Retail and e-commerce companies have started capitalizing on voice shopping. Now financial services firms need to develop strategies to engage customers through this new voice channel, like using voice assistants to provide personalized products and services or improve customer service. The document argues voice is becoming a critical new interaction method and financial companies must adopt a voice strategy to succeed.
The document analyzes consumer perceptions of the Disney XD television channel based on respondent data. It identifies key demographics as Gen Y, Gen X and baby boomers. Younger viewers are more positive about the channel while older viewers find the programming and advertisements unappealing. The document concludes Disney XD needs to deliver content across multiple platforms, maintain consistent popular programming, and broaden its audience beyond just boys to attract more viewers.
India Swipe is a proposed payment gateway company with the objectives of offering services at reduced commission rates, making the payment process seamless for buyers, and collaborating with online retailers. The company plans to allocate 12 employees and expects setup costs of Rs. 51,32,000. It projects processing 1,00,000 transactions per month worth Rs. 5 crores in total, earning Rs. 5 lakhs in revenue monthly at a 1% commission rate. This would allow the company to break even within 12 months.
A payment gateway is a service that allows online businesses to accept electronic payments for items purchased online. It securely transmits information between the customer's bank and the merchant's bank to facilitate processing payments. Common payment gateways include PayPal, Authorize.Net, and WorldPay. Payment gateways provide security for financial transactions online and allow merchants to accept credit card payments with fees for setup and transactions.
Holvi, Seed, CivilisedBank, Tide, Qonto, Azlo, Penta, Arival bank
Neobanks or fintechs for retail clients, which have launched business accounts recently: TransferWise, Revolut, StarlingBank, N26
(c) Life.SREDA VC
This document provides an overview of card payment systems. It describes the simplified authorization flow when a customer makes a payment by credit or debit card, involving the merchant, acquirer/processor, payment brand, and issuer. It also discusses electronic data capture, the ISO 8583 financial transaction message format, magnetic stripe vs EMV chip cards, verification options, card not present transactions, card management systems, and the simplified settlement flow.
This document discusses various forms of online payment systems including payment cards, electronic cash, electronic wallets, and smart cards. It outlines the basic functions of online payment systems and how payment cards, electronic cash, and stored-value cards work. It also discusses technologies like electronic wallets, smart cards, and security issues like phishing attacks that threaten online financial institutions.
Payment gateway/payment service providers and future trends in mobile payment...Danail Yotov
This document discusses payment gateways, processing of payments, and future trends in mobile payments. It provides an overview of how payment gateways facilitate transactions between merchants and banks. It describes how payments are processed, including encryption of data and authorization. It also discusses security measures like 3D Secure and PCI compliance. Finally, it outlines emerging technologies for mobile payments, including storing payment details on devices and using phones for contactless "tap and pay" transactions.
Digital payment companies in India are growing rapidly. Digital payments encompass various instruments like prepaid payment instruments, payment gateways, and Unified Payments Interface (UPI). Major players in the digital payment industry include banks and third party vendors. The Reserve Bank of India regulates payment systems and issues licenses to entities to operate prepaid payment instruments. Common modes of digital payment discussed include bank cards, USSD mobile banking, Aadhaar Enabled Payment System (AEPS), UPI, point of sale (POS) terminals, and virtual POS. Anti-money laundering procedures are also discussed, covering money laundering activities, stages of money laundering like placement, layering and integration.
The document analyzes consumer perceptions of the Disney XD television channel based on respondent data. It identifies key demographics as Gen Y, Gen X and baby boomers. Younger viewers are more positive about the channel while older viewers find the programming and advertisements unappealing. The document concludes Disney XD needs to deliver content across multiple platforms, maintain consistent popular programming, and broaden its audience beyond just boys to attract more viewers.
India Swipe is a proposed payment gateway company with the objectives of offering services at reduced commission rates, making the payment process seamless for buyers, and collaborating with online retailers. The company plans to allocate 12 employees and expects setup costs of Rs. 51,32,000. It projects processing 1,00,000 transactions per month worth Rs. 5 crores in total, earning Rs. 5 lakhs in revenue monthly at a 1% commission rate. This would allow the company to break even within 12 months.
A payment gateway is a service that allows online businesses to accept electronic payments for items purchased online. It securely transmits information between the customer's bank and the merchant's bank to facilitate processing payments. Common payment gateways include PayPal, Authorize.Net, and WorldPay. Payment gateways provide security for financial transactions online and allow merchants to accept credit card payments with fees for setup and transactions.
Holvi, Seed, CivilisedBank, Tide, Qonto, Azlo, Penta, Arival bank
Neobanks or fintechs for retail clients, which have launched business accounts recently: TransferWise, Revolut, StarlingBank, N26
(c) Life.SREDA VC
This document provides an overview of card payment systems. It describes the simplified authorization flow when a customer makes a payment by credit or debit card, involving the merchant, acquirer/processor, payment brand, and issuer. It also discusses electronic data capture, the ISO 8583 financial transaction message format, magnetic stripe vs EMV chip cards, verification options, card not present transactions, card management systems, and the simplified settlement flow.
This document discusses various forms of online payment systems including payment cards, electronic cash, electronic wallets, and smart cards. It outlines the basic functions of online payment systems and how payment cards, electronic cash, and stored-value cards work. It also discusses technologies like electronic wallets, smart cards, and security issues like phishing attacks that threaten online financial institutions.
Payment gateway/payment service providers and future trends in mobile payment...Danail Yotov
This document discusses payment gateways, processing of payments, and future trends in mobile payments. It provides an overview of how payment gateways facilitate transactions between merchants and banks. It describes how payments are processed, including encryption of data and authorization. It also discusses security measures like 3D Secure and PCI compliance. Finally, it outlines emerging technologies for mobile payments, including storing payment details on devices and using phones for contactless "tap and pay" transactions.
Digital payment companies in India are growing rapidly. Digital payments encompass various instruments like prepaid payment instruments, payment gateways, and Unified Payments Interface (UPI). Major players in the digital payment industry include banks and third party vendors. The Reserve Bank of India regulates payment systems and issues licenses to entities to operate prepaid payment instruments. Common modes of digital payment discussed include bank cards, USSD mobile banking, Aadhaar Enabled Payment System (AEPS), UPI, point of sale (POS) terminals, and virtual POS. Anti-money laundering procedures are also discussed, covering money laundering activities, stages of money laundering like placement, layering and integration.
This document provides an overview of prepaid cards and the prepaid card industry. It discusses the growth of prepaid cards and how they are becoming a larger part of the financial services industry. It describes the different types of prepaid cards, including closed loop cards that can only be used at certain merchants versus open loop cards that can be used more widely. It also outlines the different participants in prepaid card programs, such as cardholders, distributors, issuers, and processors, and how they interact.
Cross Cultural PowerPoint PPT Content Modern SampleAndrew Schwartz
159 slides include: 21+ slides on cross-cultural regional attributes: Asia, Africa, Europe, Middle East, North American, and Latin America, religious belief systems & practices, Non-verbal languages across cultures, noting the global challenges and looking for intercultural/cross-cultural opportunities, 9 tips dealing with cultural differences, tips and techniques on intercultural adjustments for expatriates, intercultural dialogue tips and techniques, negotiation across cultures, conflict resolution across cultures, how to’s and more.
The document summarizes a survey of 800 industry insiders about virtual events. Some key findings include:
- 74.8% of those who attended a virtual event deemed it a successful experience.
- 75% see virtual events as an extension of physical events rather than a replacement.
- Top reasons for attendance/success were access to useful content, ease of navigation, and lower costs compared to physical events.
- New revenue streams for hosts can include sponsorships, virtual exhibitor fees, and online advertising.
- Virtual events allow year-round engagement with attendees and lower costs compared to physical events.
Stripe pitch deck designed by Zlides
Want to create a pitch deck that inspires your audience? Get your FREE presentation kit designed by Zlides: http://bit.ly/slideshare_zlides
Electronic payment systems provide cheaper alternatives to traditional paper-based payment methods for electronic commerce. Common electronic payment methods include credit cards, debit cards, stored value cards, and e-checks. Credit cards charge interest on outstanding balances and require merchant accounts, while debit cards directly withdraw funds from the user's bank account. Security is ensured through encryption, authentication, digital signatures, and protocols like SSL and SET. This protects user information and provides non-repudiation of transactions.
A Payment Gateway is an ecommerce application that authorizes payments for e-business, online retailers etc. Analogy of payment is cash counters which are located in the retail outlets. Payment gateways encrypt sensitive information such as credit card numbers to ensure that information passes securely between the customer and the merchant.
The document discusses various security issues in e-commerce, including privacy, authentication, non-repudiation, phishing, confidentiality, security threats like denial of service attacks and unauthorized access, and types of fraud. It outlines authentication versus authorization and describes technologies used for security like encryption, decryption, cryptography, biometrics, and two-step verification.
Digital payments in India are being transformed through multiple options like UPI, e-wallets, cards, Aadhaar payments and USSD. UPI allows money transfer between banks using a virtual address, while e-wallets like Paytm allow loading funds and using them for purchases and bills. The government is promoting digital payments through policies while barriers include lack of internet access in rural areas.
Stripe is a financial technology company that provides payment processing software and services to online businesses. It was founded in 2010 and has grown rapidly, reaching a $35 billion valuation in 2019. Stripe offers developers an easy-to-integrate payments platform and charges transparent fees of 2.9% + $0.30 per credit card transaction and 0.8% for ACH payments. The company aims to make payments frictionless for businesses and has expanded into new products and international markets.
Growing momentum for Disruption in FinTech:
Looking back and looking forward.
Recording of the Backbase webinar of December 18th, 2014.
In our 2014 closing webinar we will look back at the disruptive highlights of this year and we start looking forward to 2015.
From BBVA acquiring Simple, to more and more neo-banks popping up, fintech startups going IPO and omni-channel moving from marketing buzz to the real thing. In this 60 minute webinar, Backbase's Jouk Pleiter and Jelmer de Jong discuss the main trends and best practices for banks and credit unions to keep on disrupting in the digital banking space.
Electronic payment systems allow for paperless monetary transactions through various modes like credit cards, debit cards, smart cards, and electronic funds transfers. Credit cards involve a bank paying on behalf of the customer who then has a period to pay the bill. Debit cards immediately deduct funds from the linked bank account. Smart cards contain a microchip to store customer information and funds that are deducted with use. Electronic funds transfers allow money to be transferred between bank accounts without a middleman through ATMs or online banking. E-cheques enable creating and sending checks electronically through bank-provided software. Overall, electronic payment systems have streamlined business processes by reducing paperwork, transaction costs, and processing time.
Square is an electronic (mobile) payment processor service, provided by Square Inc. It allows users in the United States and Canada to accept credit cards through their mobile phones, either by swiping the card on the Square device or by manually entering the details on the phone. Square has placed its target towards small business owners and new businesses by offering no contract, no commitment merchant accounts. In addition, it recently started to offer Square Wallet to consumers, allowing them to pay using their Smartphone and send gift cards to other Wallet users.
Non verbal communication russia, japan and chinadragon888
This is a presentation about non-verbal communication in Russia, Japan and China. It was made as an assignment about intercultural communication for a business English module at Hochschule Bremen, Germany
Razorpay is an Indian payments solution that allows businesses to accept, process, and disburse payments through an integrated product suite. It provides access to all major payment modes in India including credit cards, debit cards, net banking, UPI, and digital wallets. Razorpay offers products like Core Payments, Route, Subscriptions, Smart Collect, Payment Links, and Invoices to help businesses manage payments. It also offers integrations with various ecommerce platforms, servers, and SDKs to simplify integration. Razorpay has competitive pricing plans and claims to offer fast onboarding, easy integration, and robust security and support.
N26 is a mobile-first bank that was founded in 2013 in Berlin by Valentin Stalf and Maximilian Tayenthal. It has since expanded to become Europe's first mobile bank with over 1.5 million customers across 22 markets. N26 aims to build a bank that is simple, fast, and contemporary to use through innovative technology and design. It has raised over $215 million from investors and now has over 500 employees across offices in Berlin, Barcelona, and New York.
Presentation on security feature of atm (2)Siya Agarwal
The document discusses the security features of ATM systems. It describes how ATMs work by having customers authenticate using cards and PINs. ATM security relies on crypto-processors, database security, and network security. It provides security through mechanisms like time-outs for invalid PIN entries and recognizing stolen cards. Additional security features include identity verification, data confidentiality, accountability, and audit capabilities. The document emphasizes the importance of keeping ATM cards and PINs secure and reporting any loss or theft.
Digital Banking Strategy Roadmap - 3.24.15Calvin Turner
The Digital delivery of banking products and services is already a reality.
Like it or not, your customers will compare their digital banking experience to shopping on Amazon, iTunes, eBay, Southwest Air, etc., and to their digital experiences with large banks that already have robust digital banking offerings.
Traditional banks can’t just push out mobile apps and capabilities to customers and call it a digital banking strategy. Customers expect a seamless integration of the entire online banking experience from initiation to fulfillment. If they are forced to drop off somewhere along the digital experience to print documents, call a representative, and/or visit a branch, you have lost the customer.
Conversational Commerce: Why Consumers Are Embracing Voice AssistantsCapgemini
Conversational commerce, or consumer purchases made via voice assistants, is poised to revolutionize how consumers and brands interact. While still in the early stages, rapid adoption of voice assistants will drive significant investment and innovation in this area. As voice technology improves and more devices become enabled with voice assistants, consumers are using them more for a variety of tasks including making purchases. The research found that over a third of current voice assistant users have already made purchases such as groceries or clothing using their voice assistant. It also found that consumers see voice assistants becoming a dominant form of interaction within three years, with users expecting to spend six times more via voice assistants compared to today. Major retailers and brands have begun partnering with companies like Google
This document provides an overview of prepaid cards and the prepaid card industry. It discusses the growth of prepaid cards and how they are becoming a larger part of the financial services industry. It describes the different types of prepaid cards, including closed loop cards that can only be used at certain merchants versus open loop cards that can be used more widely. It also outlines the different participants in prepaid card programs, such as cardholders, distributors, issuers, and processors, and how they interact.
Cross Cultural PowerPoint PPT Content Modern SampleAndrew Schwartz
159 slides include: 21+ slides on cross-cultural regional attributes: Asia, Africa, Europe, Middle East, North American, and Latin America, religious belief systems & practices, Non-verbal languages across cultures, noting the global challenges and looking for intercultural/cross-cultural opportunities, 9 tips dealing with cultural differences, tips and techniques on intercultural adjustments for expatriates, intercultural dialogue tips and techniques, negotiation across cultures, conflict resolution across cultures, how to’s and more.
The document summarizes a survey of 800 industry insiders about virtual events. Some key findings include:
- 74.8% of those who attended a virtual event deemed it a successful experience.
- 75% see virtual events as an extension of physical events rather than a replacement.
- Top reasons for attendance/success were access to useful content, ease of navigation, and lower costs compared to physical events.
- New revenue streams for hosts can include sponsorships, virtual exhibitor fees, and online advertising.
- Virtual events allow year-round engagement with attendees and lower costs compared to physical events.
Stripe pitch deck designed by Zlides
Want to create a pitch deck that inspires your audience? Get your FREE presentation kit designed by Zlides: http://bit.ly/slideshare_zlides
Electronic payment systems provide cheaper alternatives to traditional paper-based payment methods for electronic commerce. Common electronic payment methods include credit cards, debit cards, stored value cards, and e-checks. Credit cards charge interest on outstanding balances and require merchant accounts, while debit cards directly withdraw funds from the user's bank account. Security is ensured through encryption, authentication, digital signatures, and protocols like SSL and SET. This protects user information and provides non-repudiation of transactions.
A Payment Gateway is an ecommerce application that authorizes payments for e-business, online retailers etc. Analogy of payment is cash counters which are located in the retail outlets. Payment gateways encrypt sensitive information such as credit card numbers to ensure that information passes securely between the customer and the merchant.
The document discusses various security issues in e-commerce, including privacy, authentication, non-repudiation, phishing, confidentiality, security threats like denial of service attacks and unauthorized access, and types of fraud. It outlines authentication versus authorization and describes technologies used for security like encryption, decryption, cryptography, biometrics, and two-step verification.
Digital payments in India are being transformed through multiple options like UPI, e-wallets, cards, Aadhaar payments and USSD. UPI allows money transfer between banks using a virtual address, while e-wallets like Paytm allow loading funds and using them for purchases and bills. The government is promoting digital payments through policies while barriers include lack of internet access in rural areas.
Stripe is a financial technology company that provides payment processing software and services to online businesses. It was founded in 2010 and has grown rapidly, reaching a $35 billion valuation in 2019. Stripe offers developers an easy-to-integrate payments platform and charges transparent fees of 2.9% + $0.30 per credit card transaction and 0.8% for ACH payments. The company aims to make payments frictionless for businesses and has expanded into new products and international markets.
Growing momentum for Disruption in FinTech:
Looking back and looking forward.
Recording of the Backbase webinar of December 18th, 2014.
In our 2014 closing webinar we will look back at the disruptive highlights of this year and we start looking forward to 2015.
From BBVA acquiring Simple, to more and more neo-banks popping up, fintech startups going IPO and omni-channel moving from marketing buzz to the real thing. In this 60 minute webinar, Backbase's Jouk Pleiter and Jelmer de Jong discuss the main trends and best practices for banks and credit unions to keep on disrupting in the digital banking space.
Electronic payment systems allow for paperless monetary transactions through various modes like credit cards, debit cards, smart cards, and electronic funds transfers. Credit cards involve a bank paying on behalf of the customer who then has a period to pay the bill. Debit cards immediately deduct funds from the linked bank account. Smart cards contain a microchip to store customer information and funds that are deducted with use. Electronic funds transfers allow money to be transferred between bank accounts without a middleman through ATMs or online banking. E-cheques enable creating and sending checks electronically through bank-provided software. Overall, electronic payment systems have streamlined business processes by reducing paperwork, transaction costs, and processing time.
Square is an electronic (mobile) payment processor service, provided by Square Inc. It allows users in the United States and Canada to accept credit cards through their mobile phones, either by swiping the card on the Square device or by manually entering the details on the phone. Square has placed its target towards small business owners and new businesses by offering no contract, no commitment merchant accounts. In addition, it recently started to offer Square Wallet to consumers, allowing them to pay using their Smartphone and send gift cards to other Wallet users.
Non verbal communication russia, japan and chinadragon888
This is a presentation about non-verbal communication in Russia, Japan and China. It was made as an assignment about intercultural communication for a business English module at Hochschule Bremen, Germany
Razorpay is an Indian payments solution that allows businesses to accept, process, and disburse payments through an integrated product suite. It provides access to all major payment modes in India including credit cards, debit cards, net banking, UPI, and digital wallets. Razorpay offers products like Core Payments, Route, Subscriptions, Smart Collect, Payment Links, and Invoices to help businesses manage payments. It also offers integrations with various ecommerce platforms, servers, and SDKs to simplify integration. Razorpay has competitive pricing plans and claims to offer fast onboarding, easy integration, and robust security and support.
N26 is a mobile-first bank that was founded in 2013 in Berlin by Valentin Stalf and Maximilian Tayenthal. It has since expanded to become Europe's first mobile bank with over 1.5 million customers across 22 markets. N26 aims to build a bank that is simple, fast, and contemporary to use through innovative technology and design. It has raised over $215 million from investors and now has over 500 employees across offices in Berlin, Barcelona, and New York.
Presentation on security feature of atm (2)Siya Agarwal
The document discusses the security features of ATM systems. It describes how ATMs work by having customers authenticate using cards and PINs. ATM security relies on crypto-processors, database security, and network security. It provides security through mechanisms like time-outs for invalid PIN entries and recognizing stolen cards. Additional security features include identity verification, data confidentiality, accountability, and audit capabilities. The document emphasizes the importance of keeping ATM cards and PINs secure and reporting any loss or theft.
Digital Banking Strategy Roadmap - 3.24.15Calvin Turner
The Digital delivery of banking products and services is already a reality.
Like it or not, your customers will compare their digital banking experience to shopping on Amazon, iTunes, eBay, Southwest Air, etc., and to their digital experiences with large banks that already have robust digital banking offerings.
Traditional banks can’t just push out mobile apps and capabilities to customers and call it a digital banking strategy. Customers expect a seamless integration of the entire online banking experience from initiation to fulfillment. If they are forced to drop off somewhere along the digital experience to print documents, call a representative, and/or visit a branch, you have lost the customer.
Conversational Commerce: Why Consumers Are Embracing Voice AssistantsCapgemini
Conversational commerce, or consumer purchases made via voice assistants, is poised to revolutionize how consumers and brands interact. While still in the early stages, rapid adoption of voice assistants will drive significant investment and innovation in this area. As voice technology improves and more devices become enabled with voice assistants, consumers are using them more for a variety of tasks including making purchases. The research found that over a third of current voice assistant users have already made purchases such as groceries or clothing using their voice assistant. It also found that consumers see voice assistants becoming a dominant form of interaction within three years, with users expecting to spend six times more via voice assistants compared to today. Major retailers and brands have begun partnering with companies like Google
The document discusses the growing adoption of voice marketing through smart speakers, noting that the global smart speaker market reached $7.9 billion in 2018 and is forecast to exceed $32 billion by 2023. While smart speakers are primarily used for listening to music and getting information, the document suggests voice activated functions will become more integrated over time. It encourages marketers to seize the opportunity to incorporate voice marketing as a key part of their overall digital strategy as the technology advances.
The document discusses the evolution of digital technology and its impact on our lives and marketing. Some key points include:
- The internet has grown dramatically in the last 10 years, with over 55% of the world's population now online. Mobile internet usage accounts for 50% of total usage.
- Devices people use to access the internet have shifted heavily to mobile phones over laptops and desktops. 65% of internet access is now through mobile phones.
- How people search for products has changed significantly, with most consumers beginning searches online rather than in physical stores. Social media recommendations also influence over 75% of younger consumers.
- E-commerce has grown enormously, now representing over 16% of total retail spending globally
One of the biggest casualties of this New Normal is brand loyalty, as evidenced by the fall from grace of many well-known brands. Learn more on how to avoid this with content marketing for your business through this presentation.
Full blog here - https://digitalmarketingphilippines.com/content-marketing-trends-2021-mid-year-report-infographic/
Top 5 ongoing digital consumers trends of 2018Sphinx Solution
Digital consumers are embracing super apps that offer a wide range of services through a single mobile platform. Brands are also using subscriptions to keep consumers engaged on their platforms. Additionally, retailers are incorporating new technologies like beacons and NFC to enhance the customer experience in physical stores. Data is becoming a key currency for companies to better understand consumers and provide customized experiences and recommendations. Mobile wallets are also growing in popularity for making purchases on the go.
A general report that looks at the communication and marketing trends happening in the market. Report covers both technology factors and consumer trends, and how these two areas are converging like never before.
4 things that will forever change online marketing in 2018Ben Ramedani
Digital marketing is expanding faster than ever and data, tech, and measurement tools are growing at similar rates. Traditional, classic advertising spending is falling by the wayside as brands are learning to spend smarter across leaner strategies and emerging technologies. Today’s landscape of ‘fake news’ accusations, Facebook privacy concerns, Google algorithm changes, and new tech introductions is innovating the way that we do marketing. As the world shifts, so do we.
Mobile in the media mix whitepaper oya ones yasayan 2011Oya Yaşayan
. The role of mobile technology of a brand's media mix.
. Reasons Why Brands Must Adopt Mobile Marketing.
. Changing Consumption of Mobile Media
. Including and Optimizing Mobile in Media Plans
....On-phone advertising
...Mobile Search
...Location Based Services
...Mobile Enabled Outdoor
. Creating a Successful Cross-Media Mobile Campaign
...Multi-Channel Shopping Experience
...Key facts at-a-glance: How to optimize mobile in media plans
1) Indian food preparation versus Western food preparation.(2).docxmonicafrancis71118
1) Indian food preparation versus Western food preparation.
(2) Values and customs that might affect opinions about microwave ovens.
(3) The effects of competition in the market.
Answer the questions and consider its affects in India’s marketing
This article was written in year 2000, when the Internet saw a massive growth from its
birth from year 1994. It is said that: International communication network (W.W.W) is the
second greatest invention of mankind, after the first one is language.
According to the articles, more and more businesses are discovering the W.W.W as a
fundamental communication tool used to conduct daily business. Larger and small companies
are embracing the web to communicate with current and prospective customers in a same cost
and ease as in their countries. The internet Era is changing the way people doing business. It
hasthe fastest growing and most innovative componentsthat make them center to the paradigm
of marketing.
In some way, digital marketing is different with the traditional networking as it shifts
from “one-way” to “two-way” information flows between companies and consumers. Digital
is excellent way to broaden your network “one- to- many” and create great opportunities to
establish relationship with customers in a mutual communication. Never before has it been so
easy to access information on a worldwide basic and never before so many people been
exposed to and used a single information sharing system. Therefore, many firms have to
rethink their strategy and place more emphasis on digital world.
Reza Kiani also pointed out the many marketing opportunities on the Web as a twoway Communication, in four logical situations: Company-to-consumer, consumer-tocompany, consumer-to-consumer, company-to-company.
(1) Company-to-consumer: According to Morgan (1996), marketers can use interactive media
to provide higher services and lower cost by delivering up-dated product and non-product
related information. Compare to traditional marketing communication channel, digital
marketing is faster, less expensive, highly immediate communication, round the clock and
global. It offers wider and deeper material and richer advertisement content.
Assignment 1 3
Many articles pointed out the 3 basic advantages to business using the Web as:
Addressability, Flexibility and accessibility. The strong “Addressability” of the web is
the primary marketing resources for many firm to define target market, with the “
Flexibility”, customer will shape the firms that serve them.
(2) Consumer-to-company: The consumer is now an active participant, and a partner in the
production. Marketing today has learned that the probability of purchase by a repeat buyer
is much greater than that by a randomly mailed house-hold who has never been a customer.
As the product or service becomes customeised, the consumer faces serious problems to
identify the product or service s/he desires. To deal with this difficulty, Blattnerd.
This report summarizes key trends from CES 2018 and their implications for marketers. It discusses how AI will play an essential role in digital transformation through automating tasks and leveraging data. Voice is becoming a more common way for consumers to interact with technology like smart speakers and cars. Innovation in automobiles is shifting to electric vehicles and self-driving capabilities, changing the relationship between brands and consumers. The rise of augmented and virtual reality provides new opportunities for brands to engage consumers through digital content and experiences.
This report summarizes key trends from CES 2018 and their implications for marketers. It discusses how AI will play an essential role in digital transformation through automating tasks and leveraging data. Voice is becoming a more common way for consumers to interact with technology, unlocking new opportunities for brands. Innovation in automobiles, like electric vehicles and self-driving cars, will change the relationship between consumers and brands. The trends highlighted from CES 2018 that will most impact marketers include the growth of voice control across many devices, advances in augmented and virtual reality, and new ways for brands to utilize consumer data insights and blockchain technologies.
1) In 2019, AR and VR technologies will be more widely adopted by major brands, as their costs decrease and capabilities increase. Up to 88% of companies plan to use AR in marketing.
2) Video content will dominate the internet, claiming over 80% of web traffic. Marketers who do not incorporate engaging video into their strategies will fall behind.
3) As consumers increasingly rely on online reviews, businesses will implement techniques like "review brushing" to detect and remove fake reviews, restoring trust in review platforms.
1. Mobile and tablet internet usage exceeded desktop worldwide for the first time in 2017, accounting for over 50% of internet usage. Voice searches also increased dramatically, making up 25% of mobile searches.
2. Facebook saw huge growth in mobile users, with 1.15 billion daily active users and 1.74 billion monthly active users accessing Facebook only on mobile. Mobile advertising also accounted for the majority of Facebook's advertising revenue.
3. Major acquisitions and partnerships were announced in 2017, including Verizon's acquisition of Yahoo, Cisco's purchase of AppDynamics, Apple's acquisition of Shazam, and Google and PayPal's digital wallet partnership.
The Rise of Mobile Technology in Retail - Infographic by RapidValueRapidValue
This Infographics talks about the trends of mobility in retail and the reasons behind the strong pursuance of mobile technology by retailers. It also depicts the importance of omnichannel retail and statistics about new technologies like Augmented reality and Internet of things.
The document discusses strategies for creating effective notifications and triggers to drive user actions and engagement. Some of the strategies mentioned include leveraging a sense of achievement, urging caution with time-based triggers, boosting self-esteem, gently nudging users with courage, building curiosity, increasing expectations with habit loops, and amusing users with group offers. The goal is to motivate users through subtle persuasion rather than hard selling.
The Rise of Voice Invoca Report: Nov 2017Isidore Gotto
Voice assistants are becoming more widely used, changing how consumers learn about brands through voice search and interact with brands through voice apps. As voice technology improves, it is enabling new forms of customer acquisition, engagement, and support. Marketers must understand how voice interactions can enhance customer relationships and build voice experiences that connect to their digital strategies.
THE RISE OF VOICE : WHAT THE INCREASE IN CONVERSATION , VOICE ASSISTANTS AND ...MUHAMMAD HUZAIFA CHAUDHARY
Voice assistants are becoming more widely used, changing how consumers learn about brands through voice search and interact with brands through voice apps. As voice technology improves, it is enabling new forms of customer acquisition, engagement, and support. Marketers must understand how voice interactions can enhance customer relationships and build voice experiences that connect to their digital strategies.
The Digital Consumer Guide to Online ShoppingSumit Roy
Consumers are increasingly using digital devices and online channels to research and purchase products. Over 60% of consumers research electronics and mobile products online before purchasing, and nearly half make over 25% of purchases online. Mobile devices are also becoming a major shopping tool, with over 20% of consumers using phones for product research in stores. To succeed, companies must understand these digital consumer journeys and align their digital marketing strategies across websites, mobile apps, social media, and other online touchpoints. Those that invest in digital and offer personalized promotions on owned channels will be best positioned to capture the growing online retail opportunity.
Similaire à Voice assistants for the insurance industry (20)
Multi Domain REST API routing for Data Mesh based Data ProductsJohan Louwers
Data Mesh and REST API routing based on subdomains or additions to Fully Qualified Domain Names (FQDNs) are innovative approaches addressing complex data architecture and API ecosystem challenges.
Data Mesh:
Data Mesh reimagines data architecture with decentralization and domain-oriented focus. Traditional centralized architectures struggle with scaling and adapting to diverse data sources. Data Mesh advocates for decentralization, where data ownership, governance, and infrastructure are distributed among domain-specific teams. Each data domain manages and evolves its data assets independently, fostering ownership and agility. By aligning data management with domain boundaries, Data Mesh aims to enhance agility, scalability, and innovation.
REST API Routing Based on Subdomains or FQDN Additions:
REST API routing based on subdomains or FQDN additions directs client requests to specific API endpoints using URL segments. This leverages domain hierarchy for logical partitioning and routing requests to backend services or microservices. It ensures clear separation of concerns, simplified configuration, and improved scalability and modularity. Additionally, it enables fine-grained control over routing and facilitates implementation of cross-cutting concerns like authentication and rate limiting.
In summary, Data Mesh and REST API routing based on subdomains or FQDN additions offer powerful tools for managing and scaling data and API ecosystems. These approaches empower organizations to embrace complexity, foster innovation, and adapt to evolving business requirements in modern data-driven enterprises.
TClab Dynamic Solar Panel Positioning SystemsJohan Louwers
A TClab Dynamic Solar Panel Positioning Systems engineering study. By accurately adjusting the azimuth and altitude angles, solar panel positioning systems can optimize the orientation and tilt of the panels to capture the maximum amount of sunlight throughout the day, thus improving energy generation efficiency. Azimuth corrections refers to the horizontal angle at which the solar panels are aligned relative to a reference point, usually the north direction. It represents the rotation around a vertical axis. The azimuth angle typically ranges from 0° (facing north) to 360° (completing a full circle). By adjusting the azimuth angle, the solar panels can track the sun's path throughout the day to maximize exposure to sunlight.
Altitude corrections refers to the vertical angle or tilt at which the solar panels are positioned relative to the ground or a horizontal reference plane. It represents the angle of elevation or inclination from the horizontal plane. The altitude angle usually ranges from 0° (panels lying flat) to 90° (panels standing straight up). The altitude angle is adjusted based on factors such as the latitude of the installation location and the time of year to optimize the angle at which the panels receive sunlight.
Oracle Cloud With Azure DevOps PipelinesJohan Louwers
Oracle Cloud DevOps with Azure Pipelines allows connecting Azure Pipelines to Oracle Cloud Infrastructure (OCI) APIs and deployed components through the use of self-hosted Azure agents running within OCI. This enables full pipeline execution within OCI while leveraging tools like Terraform for infrastructure provisioning and cx_Oracle for working with Oracle databases. Ensuring agents have direct connectivity and aiming for a software-defined automated strategy is recommended over cross-cloud connections.
Oracle Labs - research mission & project potfolioJohan Louwers
The current research mission and project portfolio for Oracle Labs. Oracle Labs is the research organisation supporting the wider Oracle organisation as well as the academic community
A quick guide on installing Redis on Oracle Linux. This guide provides an insight on how to setup Redis to enable developers to quickly get started with the Open Source Redis solution on Oracle Linux based system
This document provides a quick installation guide for FN Project on Oracle Linux:
- It assumes Oracle Linux 7 is installed and the correct yum repositories are enabled.
- Docker is installed using the command "yum -y install docker-engine" and started.
- FN Project is installed by downloading and executing an install script from GitHub.
- FN Project is started using the "fn start" command.
Coding example on how to merge two Pandas DataFrames into a single dataframe. Pandas is used often to prepare a dataset of machine learning and AI solutions
Enterprise wide publish subscribe with Apache KafkaJohan Louwers
The document discusses enterprise wide publish/subscribe models using Apache Kafka. It describes moving from monolithic architectures to microservice architectures and how Kafka can be used to distribute transactions between microservices. It provides examples of publishing and subscribing using Kafka clients and discusses considerations for deploying Kafka in a highly available manner across multiple data centers.
An insight into Industry 4.0 and how to handle the massive amount of data coming from your sensors with Artificial Intelligence AI. Oracle Cloud and Oracle on-premise solutions can play a role in your industry 4.0 enterprise architecture
Docker and microservices - moving from a monolith to microservicesJohan Louwers
The document discusses moving from a monolithic application architecture to microservices. It begins by stating some ground rules for the presentation. It then discusses how microservices are defined as independently deployable services that communicate via APIs. Docker containers are presented as a way to package and deploy microservices for benefits like automated deployment and scaling. Key differences between containers and virtual machines are highlighted. An example deployment architecture with containers is shown. The document acknowledges that transitioning to microservices and containers will be a long process but will enable benefits like agility, performance and higher release frequency.
The document discusses how banks are increasingly adopting cloud-native approaches to application development and deployment to improve business agility, customer experiences, and operational efficiency. It outlines three common uses cases driving cloud-native adoption: 1) transforming the business for greater agility and flexibility, 2) optimizing operational efficiency using public cloud infrastructure, and 3) adopting an API ecosystem. While cloud-native approaches provide benefits, banks face challenges integrating legacy infrastructure and cultural changes. The document recommends banks assess their application portfolio to determine what can be lifted to the cloud, rewritten for cloud, or retired.
How voice is revolutionizing retail and customer interaction. A guide for companies on how to work on a strategie that will enable them to interact with customers in new ways and improve customer satisfaction.
Capgemini presentation on the Oracle Cloud Day on the future of retail on the Oracle Cloud. Showcasing how robotization, same day delivery, Augmented reality and other technology has a place in the future of retail and how the Oracle Cloud supports retailers in achieving their ambition.
Capgemini introduction to the Oracle Cloud Access Security Broker service. Improving your enterprise security in the cloud era by using the right tools to control who has access to what.
The document discusses microservices and using the Oracle Container Cloud Service. It introduces Johan Louwers and his background. It then discusses the evolution from monolithic applications to microservices-based applications. It provides an example architecture of using microservices with the Oracle Container Cloud Service, with each microservice running in a Docker container. It describes how the Oracle Integration Cloud Service can provide integration between microservices and other Oracle Cloud services.
The document discusses options for running RethinkDB on Oracle Linux. There are three main options: 1) on bare metal servers, 2) within Oracle VM virtual machines, or 3) using Oracle Cloud. A fourth option discussed is using Docker containers with RethinkDB. The document provides guidance on installing RethinkDB, including needing to compile Google Protocol Buffers and using a RethinkDB YUM repository. It also reviews checking the RethinkDB installation and provides contact information.
Skybuffer SAM4U tool for SAP license adoptionTatiana Kojar
Manage and optimize your license adoption and consumption with SAM4U, an SAP free customer software asset management tool.
SAM4U, an SAP complimentary software asset management tool for customers, delivers a detailed and well-structured overview of license inventory and usage with a user-friendly interface. We offer a hosted, cost-effective, and performance-optimized SAM4U setup in the Skybuffer Cloud environment. You retain ownership of the system and data, while we manage the ABAP 7.58 infrastructure, ensuring fixed Total Cost of Ownership (TCO) and exceptional services through the SAP Fiori interface.
Programming Foundation Models with DSPy - Meetup SlidesZilliz
Prompting language models is hard, while programming language models is easy. In this talk, I will discuss the state-of-the-art framework DSPy for programming foundation models with its powerful optimizers and runtime constraint system.
Conversational agents, or chatbots, are increasingly used to access all sorts of services using natural language. While open-domain chatbots - like ChatGPT - can converse on any topic, task-oriented chatbots - the focus of this paper - are designed for specific tasks, like booking a flight, obtaining customer support, or setting an appointment. Like any other software, task-oriented chatbots need to be properly tested, usually by defining and executing test scenarios (i.e., sequences of user-chatbot interactions). However, there is currently a lack of methods to quantify the completeness and strength of such test scenarios, which can lead to low-quality tests, and hence to buggy chatbots.
To fill this gap, we propose adapting mutation testing (MuT) for task-oriented chatbots. To this end, we introduce a set of mutation operators that emulate faults in chatbot designs, an architecture that enables MuT on chatbots built using heterogeneous technologies, and a practical realisation as an Eclipse plugin. Moreover, we evaluate the applicability, effectiveness and efficiency of our approach on open-source chatbots, with promising results.
Monitoring and Managing Anomaly Detection on OpenShift.pdfTosin Akinosho
Monitoring and Managing Anomaly Detection on OpenShift
Overview
Dive into the world of anomaly detection on edge devices with our comprehensive hands-on tutorial. This SlideShare presentation will guide you through the entire process, from data collection and model training to edge deployment and real-time monitoring. Perfect for those looking to implement robust anomaly detection systems on resource-constrained IoT/edge devices.
Key Topics Covered
1. Introduction to Anomaly Detection
- Understand the fundamentals of anomaly detection and its importance in identifying unusual behavior or failures in systems.
2. Understanding Edge (IoT)
- Learn about edge computing and IoT, and how they enable real-time data processing and decision-making at the source.
3. What is ArgoCD?
- Discover ArgoCD, a declarative, GitOps continuous delivery tool for Kubernetes, and its role in deploying applications on edge devices.
4. Deployment Using ArgoCD for Edge Devices
- Step-by-step guide on deploying anomaly detection models on edge devices using ArgoCD.
5. Introduction to Apache Kafka and S3
- Explore Apache Kafka for real-time data streaming and Amazon S3 for scalable storage solutions.
6. Viewing Kafka Messages in the Data Lake
- Learn how to view and analyze Kafka messages stored in a data lake for better insights.
7. What is Prometheus?
- Get to know Prometheus, an open-source monitoring and alerting toolkit, and its application in monitoring edge devices.
8. Monitoring Application Metrics with Prometheus
- Detailed instructions on setting up Prometheus to monitor the performance and health of your anomaly detection system.
9. What is Camel K?
- Introduction to Camel K, a lightweight integration framework built on Apache Camel, designed for Kubernetes.
10. Configuring Camel K Integrations for Data Pipelines
- Learn how to configure Camel K for seamless data pipeline integrations in your anomaly detection workflow.
11. What is a Jupyter Notebook?
- Overview of Jupyter Notebooks, an open-source web application for creating and sharing documents with live code, equations, visualizations, and narrative text.
12. Jupyter Notebooks with Code Examples
- Hands-on examples and code snippets in Jupyter Notebooks to help you implement and test anomaly detection models.
Discover top-tier mobile app development services, offering innovative solutions for iOS and Android. Enhance your business with custom, user-friendly mobile applications.
5th LF Energy Power Grid Model Meet-up SlidesDanBrown980551
5th Power Grid Model Meet-up
It is with great pleasure that we extend to you an invitation to the 5th Power Grid Model Meet-up, scheduled for 6th June 2024. This event will adopt a hybrid format, allowing participants to join us either through an online Mircosoft Teams session or in person at TU/e located at Den Dolech 2, Eindhoven, Netherlands. The meet-up will be hosted by Eindhoven University of Technology (TU/e), a research university specializing in engineering science & technology.
Power Grid Model
The global energy transition is placing new and unprecedented demands on Distribution System Operators (DSOs). Alongside upgrades to grid capacity, processes such as digitization, capacity optimization, and congestion management are becoming vital for delivering reliable services.
Power Grid Model is an open source project from Linux Foundation Energy and provides a calculation engine that is increasingly essential for DSOs. It offers a standards-based foundation enabling real-time power systems analysis, simulations of electrical power grids, and sophisticated what-if analysis. In addition, it enables in-depth studies and analysis of the electrical power grid’s behavior and performance. This comprehensive model incorporates essential factors such as power generation capacity, electrical losses, voltage levels, power flows, and system stability.
Power Grid Model is currently being applied in a wide variety of use cases, including grid planning, expansion, reliability, and congestion studies. It can also help in analyzing the impact of renewable energy integration, assessing the effects of disturbances or faults, and developing strategies for grid control and optimization.
What to expect
For the upcoming meetup we are organizing, we have an exciting lineup of activities planned:
-Insightful presentations covering two practical applications of the Power Grid Model.
-An update on the latest advancements in Power Grid -Model technology during the first and second quarters of 2024.
-An interactive brainstorming session to discuss and propose new feature requests.
-An opportunity to connect with fellow Power Grid Model enthusiasts and users.
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdfChart Kalyan
A Mix Chart displays historical data of numbers in a graphical or tabular form. The Kalyan Rajdhani Mix Chart specifically shows the results of a sequence of numbers over different periods.
Dandelion Hashtable: beyond billion requests per second on a commodity serverAntonios Katsarakis
This slide deck presents DLHT, a concurrent in-memory hashtable. Despite efforts to optimize hashtables, that go as far as sacrificing core functionality, state-of-the-art designs still incur multiple memory accesses per request and block request processing in three cases. First, most hashtables block while waiting for data to be retrieved from memory. Second, open-addressing designs, which represent the current state-of-the-art, either cannot free index slots on deletes or must block all requests to do so. Third, index resizes block every request until all objects are copied to the new index. Defying folklore wisdom, DLHT forgoes open-addressing and adopts a fully-featured and memory-aware closed-addressing design based on bounded cache-line-chaining. This design offers lock-free index operations and deletes that free slots instantly, (2) completes most requests with a single memory access, (3) utilizes software prefetching to hide memory latencies, and (4) employs a novel non-blocking and parallel resizing. In a commodity server and a memory-resident workload, DLHT surpasses 1.6B requests per second and provides 3.5x (12x) the throughput of the state-of-the-art closed-addressing (open-addressing) resizable hashtable on Gets (Deletes).
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor IvaniukFwdays
At this talk we will discuss DDoS protection tools and best practices, discuss network architectures and what AWS has to offer. Also, we will look into one of the largest DDoS attacks on Ukrainian infrastructure that happened in February 2022. We'll see, what techniques helped to keep the web resources available for Ukrainians and how AWS improved DDoS protection for all customers based on Ukraine experience
Main news related to the CCS TSI 2023 (2023/1695)Jakub Marek
An English 🇬🇧 translation of a presentation to the speech I gave about the main changes brought by CCS TSI 2023 at the biggest Czech conference on Communications and signalling systems on Railways, which was held in Clarion Hotel Olomouc from 7th to 9th November 2023 (konferenceszt.cz). Attended by around 500 participants and 200 on-line followers.
The original Czech 🇨🇿 version of the presentation can be found here: https://www.slideshare.net/slideshow/hlavni-novinky-souvisejici-s-ccs-tsi-2023-2023-1695/269688092 .
The videorecording (in Czech) from the presentation is available here: https://youtu.be/WzjJWm4IyPk?si=SImb06tuXGb30BEH .
Fueling AI with Great Data with Airbyte WebinarZilliz
This talk will focus on how to collect data from a variety of sources, leveraging this data for RAG and other GenAI use cases, and finally charting your course to productionalization.
"Choosing proper type of scaling", Olena SyrotaFwdays
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
2. Contents
1. Introduction 3
2. As voice assistants witness uptake, FS firms must adopt too 4
2.1. Voice assistant adoption picks up pace 4
2.2. Increased uptake in retail and e-commerce 5
2.3. The shift in customer behavior 6
2.4. Now is the time for FS firms to chart their voice strategy and journey 7
3. Although voice assistant adoption is slow in FS, some firms identify quick wins 9
3.1. Financial services’ innovation challenge 9
3.2. How to identify voice assistant use cases 9
3.3. Potential opportunities 12
4. Devise a strategy for voice-based customer service 13
4.1. The right voice strategy 13
4.2. Understanding the barriers and propelling consumer adoption 14
5. Conclusion 16
References 17
About the Authors 18
2
Voice Assistants – The New Glass!
3. 1. Introduction
The fast-paced adoption of new technologies, smartphones,
and social media is carving out a new digital future. With
consumer preferences shifting to a digital paradigm, brands
are exploring new ways to digitally drive brand affiliation.
Voice as an interaction channel has become a reality.
The release of affordable, voice-enabled devices by tech
giants such as Google and Amazon - along with consumer
propensity in shopping, payments, etc. - has increased the
adoption of voice assistants significantly. Customer adoption
of voice assistants globally is expected to reach 1.83 billion
by 2021, growing at a rate of 29.4% CAGR.1
This rapid rise
presents a new opportunity for brands to speak with their
customer in a completely different way.
Conversations are an essential part of our daily lives.
Dialogues help us build interpersonal connections, socialize,
and bridge gaps with strangers. The conversational power of
voice assistants is a new-found intimacy that offers innovative
brands a new channel through which to converse with and
listen to their digital customers.
How is the rapid adoption of conversational channels
transforming digital commerce? And, what opportunities exist
for financial service institutions that embrace this new voice
channel?
Read on…
Amazon Alexa, Google Home, Siri, etc. are the foundation
of a commerce-bolstering voice ecosystem. Consumers are
plugging themselves into the new ecosystem, and brands
have an opportunity to get closer to them. As a result,
retail players, automobile giants and other major brands
are scouting for voice-as-a-channel use cases. Thus, the
ecosystem is growing in three ways: voice assistant providers
are increasing the skill set of voice-activated devices, industry
players are utilizing these skill sets to create services,
and consumers are buying voice assistants and plugging
themselves into the ecosystem.
Financial services firms can leverage voice assistants as a
single pane of glass to both generate new revenue streams and
improve customer experience. How? Firms can integrate data
and information from various sources, create personalized
products and services, and showcase it for customers,
via a single tool. Voice assistants allow financial brands
to interact with customers using personalized, human-
sounding machine-based conversations. It is no wonder a
majority of large financial firms have embarked on the voice
assistant journey.
Voice as a channel is expanding as the public spends more and
more time with personal voice assistants. In the ecosystem of
smart devices, financial brands must talk and listen to a new
generation of consumers.
Now more than ever, a comprehensive strategy that outlines
how to help customers use their preferred channel (voice) to
consume financial services is critical to firm success.
1 Medici, “The Rise of the Voice Payments Ecosystem,” Diwakar Mandal, April 16, 2018,
https://gomedici.com/rise-of-voice-payments-ecosystem/
3
4. The United States is a world leader in smart speaker adoption,
with the UK following closely. In the Asia Pacific region,
adoption is nascent, but Chinese players such as Alibaba and
Xiaomi ― realizing the enormous growth potential ― have
been heavily investing in smart speaker technology.3
Combined with smart speakers and smartphones, voice
controls are also expanding across other platforms, including
PCs, tablets, connected TVs, cars, and wearables.
This clearly points to digital consumers’ natural propensity to
interact and do business via voice-activated devices.
Figure 1: Smart speakers installed base: Top five countries (%), 2017E-2018F
Source: Capgemini Financial Services Analysis, 2018; Canalys Estimates and Forecasts, Smart Speaker Analysis, June 2018.
USA
73%
UK
10%
Germany
8%
China
3%
Canada
2%
Others
4%
USA
63%
China
10%
UK
8%
Germany
6%
South Korea
3%
Others
10%
+145%
Growth
Increased adoption of voice-based
assistants is expected to give rise
to an entirely new channel of
customer service and engagement
2. As voice assistants witness uptake, FS firms
must adopt too
2.1. Voice assistant
adoption picks up pace
The proliferation of technologies such as artificial intelligence
(AI) and an increase in usage of smartphones by customers for
voice searches has given rise to AI-based personal assistants.
Apple’s Siri, Microsoft’s Cortana, and Samsung’s Bixby have all
been competing for the share of voice, and with the release
of devices such as Alexa by Amazon and Google Assistant by
Google, the competition has further intensified.
Voice capability adoption
grows across geographies
There has been an increase in voice-powered smart speaker
adoption across geographies, and the installed base is
forecasted to grow by 145% from 40.8 million in 2017 to 100
million in 20182
(Figure 1).
2 Voicebot.ai, “China to Overtake UK and Germany in Smart Speaker
Installed Base in 2018,” Bret Kinsella, July 10, 2018,
https://voicebot.ai/2018/07/10/china-to-overtake-uk-and-
germany-in-smart-speaker-installed-base-in-2018/
3 Ibid
4
Voice Assistants – The New Glass!
5. Customer segments actively
using voice assistants
According to the Conversational Commerce Survey conducted
by Capgemini in the US, UK, France, and Germany, 50.7% of
respondents said they use voice assistants.
The survey data indicates that Gen Y (Millennials)4
are heavy
users of voice technology (Figure 2). Approximately 74% of
Gen Y uses it as a new means of commerce for functions such
as seeking information and making purchases. Moreover, with
Gen Y customers enthusiastically adopting more and more
resources, and expected to be one of the most profitable
segments soon, voice assistants may be a useful tool to target
this segment.
4 Gen Y (Millennial) customers are categorized as individuals aged 18 to 31, Gen X represents customers aged 32 to 59, while Baby Boomers
represent customers that are aged 60 and older. These groups are mutually exclusive and collectively exhaustive (MECE).
5 Techcrunch, “Voice shopping estimated to hit $40+ billion across U.S. and U.K. by 2022,” Sarah Perez, March 2, 2018,
https://techcrunch.com/2018/03/02/voice-shopping-estimated-to-hit-40-billion-across-u-s-and-u-k-by-2022/
6 Wirecutter, “What Is Alexa? What Is the Amazon Echo, and Should You Get One?” Grant Clauser, July 11, 2018,
https://thewirecutter.com/reviews/what-is-alexa-what-is-the-amazon-echo-and-should-you-get-one/
7 BBC, “Walmart and Google to offer voice-enabled shopping,” August 23, 2017, https://www.bbc.com/news/business-41021783
8 ZDNet, “Target partners with Google for voice shopping through Google Express,” Natalie Gagliordi, Oct 12, 2017,
https://www.zdnet.com/article/target-partners-with-google-for-voice-shopping-through-google-express/
Figure 2: Adoption of voice assistants – global vs. the US, demographic analysis (%), 2017
Source: Capgemini Financial Services Analysis, 2018; Capgemini Research Institute, Conversational Commerce Survey, October–November
2017, N=5,041 consumers in the US, UK, France, and Germany.
30.9%
51.0%
73.9%
49.3%
68.4%
89.1%
Baby boomers GenX GenY
Voice Assistant Users (in all countries) Voice Assistant Users (US)
In the United States, along with Gen Y (89.1%), Gen X (68.4%)
and Baby Boomers (49.3%) have been the most profitable
segments, propelling the mass adoption of voice assistants.
Affluent customers showed a higher adoption of 67.6%,
although, with an increase in lower-cost options for these
smart speakers, non-affluent customers (45.9%) are gaining
ground, as well.
Clearly, digital consumers from all walks of life have a large
appetite for voice-activated devices. The ease, intimacy, and
affordability of voice assistants are making way into every
household. People are ready to embrace voice technology in
multiple segments of their day-to-day life.
2.2. Increased uptake in
retail and e-commerce
The adoption of voice assistants across geographic regions
and demographic segments has started to influence the way
customers shop and pay, providing retailers and e-commerce
giants with unprecedented opportunities. Around 35%
of voice assistant users say they have bought groceries,
homecare, and clothes via voice assistants.
Voice shopping sales in the US and the UK are expected to
surge from a forecasted US$2 billion in 2018 to an estimated
US$40 billion-plus in 2022.5
This massive 1,900% growth will
likely be driven by the increased use of smart speakers at
home, such as Amazon’s Echo and Google Home.
Amazon’s Alexa offers consumers shopping at
Amazon.com, exclusive voice deals, also provides them with
choice, flexibility, and ease when it comes to purchasing
items.6
The device offers improved conversational facility,
better memory, advanced voice recognition, and an
experience that is more akin to natural human interactions.
Google has partnered with Walmart, to offer voice shopping
to customers, and this partnership also highlights that the
voice assistants provide significant opportunities for retailers
to integrate data they receive from voice assistants into their
omnichannel offerings.7
Along with Walmart, more than 40
large retailers, including Target, Costco, Walgreens, and Home
Depot, have partnered with Google to introduce voice-based
shopping to consumers.8
Not only in retail, but we are also witnessing an impact on
other industries too, as we see 34% users have ordered their
meal and around 28% have booked an Uber or a taxi service
via voice assistants.
5
6. BMW and Ford are integrating Alexa into their cars to
let drivers interact with the vehicle regarding the driving
environment and to enable on the go access to information.9
It is evident that voice assistants are a key player
in the growing digital ecosystem. They offer an
unparalleled opportunity to build brand intimacy. Brands
are strengthening the current digital ecosystem by
exploring ways to include voice controls. The digital
world is now looking forward to voice-driven commerce
in every space.
2.3. The shift in
customer behavior
As voice-enabled devices become increasingly popular across
industries, so too are customers becoming accustomed
to voice-enabled services. Brands are coming closer to
customers by nurturing a personal relationship. We are
witnessing a shift in consumer sentiments as they place
more value on the personal relationships offered via
voice assistants. This new-found intimacy is driving brand
preference and affiliation.
Voice assistants are becoming a
part of customers’ daily lives
In a survey conducted by IFTTT, 60% of users said that they
use their assistants more than four times a day, and around
29% users use it more than seven times a day.10
As shown in Figure 3, customer use of voice assistants is
increasing; around 19.4% of users say they will use voice
assistants instead of a mobile app or website, and this use will
grow to 30.9% in the next three years.
Thanks to the convenience and ease of use offered by voice
assistants, users are slowly switching from other devices to
voice assistants for their daily tasks, and the average time
spent on voice assistants is rising drastically.
Change in customer spending habits
With the use of voice assistants, there is a clear shift in
customer spending patterns. Users of voice assistants spend
around 3% of their consumer expenditure through voice
assistants, but this outlay is expected to rise to 18% over
the next three years, which may reduce the share of physical
stores (45%) and websites (37%).
Around 28.4% of voice assistant users have made a payment
or sent money through voice assistants. A substantial 86.9%
of them say they are satisfied with the transaction (Figure 4).
Brands may generate more business and potentially
significant financial gain, as consumers are willing to spend
5% more with a brand following a good experience with a
voice assistant.
Figure 3: Customer use of voice assistants: today vs. three years from now (%), 2018
Source: Capgemini Financial Services Analysis, 2018; Capgemini Research Institute, Conversational Commerce Survey, October–November
2017, N=5,041 consumers in the US, UK, France, and Germany.
24.4%
40.2%
19.4%
30.9%
Preference Today Preference Three Years From Now
Customer will use a Voice Assistant instead of visiting a shop or
a bank branch
Customer will use a Voice Assistant instead of using a mobile
app or a website
Legend
9 The Verge, “BMW is integrating Alexa into its cars in 2018,” Casey Newton, September 27, 2017,
https://www.theverge.com/2017/9/27/16372566/bmw-alexa-integration-2018
10 IFTTT, “2017 Voice assistant trends,” July 12, 2017, https://ifttt.com/blog/2017/07/voice-assistant-trends-infographic
6
Voice Assistants – The New Glass!
7. 2.4. Now is the time for FS
firms to chart their voice
strategy and journey
Firms such as Alphabet, Netflix, and Amazon have been using
emerging technologies to target today’s newer-generation
customers. They have changed the way customers shop,
relax, and socialize. Digital customers now expect FS firms
to provide the same kind of personalization and experience
offered by these new-age online platforms and e-commerce
platforms.
Around 44% of voice assistant users say they are interested
in using voice assistants for banking services (sending money
to people, paying credit card bills). Customers expect voice
assistants to resolve their queries and issues as a relationship
manager might (Figure 5).
With high customer demand for voice-based interactions in
FS and a growing voice assistant ecosystem across industries,
it makes strategic sense for the financial services industry to
leverage this opportunity.
Automobiles now feature voice-assisted technology. Because
it is available on customer mobile devices and is used for
ordering meals and booking cabs, more customer time is
spent on it. FS firms need to be present wherever customers
spend time, and as retailers and automobile manufacturers
integrate voice assistants and the ecosystem grows, FS firms
should make sure they are a part of the ecosystem.
FS firms should be cognizant of changing customer
preferences and quickly address these new requirements.
Now is the time for financial services firms to chart a
comprehensive voice strategy and to decide how to use voice
assistants as an engagement channel, how to enable payment
and transactions, and how to provide customer support and
advisory-related services to customers via voice.
Figure 4: Customers satisfied with transaction done via voice assistant (%), 2018
Source: Capgemini Financial Services Analysis, 2018; Capgemini Research Institute, Conversational Commerce Survey, October–November
2017, N=5,041 consumers in the US, UK, France, and Germany.
28.4%
71.6%
86.9%
9.2%
3.9%
Customers Satisfied
with Transaction Done
Customers Dissatisfied
with Transaction Done
Neutral
Made a Payment/ Sent
Money via Voice
Assistants
Financial
Transaction not
Done via Voice
Assistants
Voice Assistant Users (100%)
Consumers are willing to spend 5%
more with a brand following a good
experience with a voice assistant.
7
8. Figure 5: Areas in which customers would prefer that voice assistants replace humans - today vs. three years
from now (%), 2018
Source: Capgemini Financial Services Analysis, 2018; Capgemini Research Institute, Conversational Commerce Survey, October–November
2017, N=5,041 consumers in the US, UK, France, and Germany.
38.7%
40.5%
40.6%
48.2%
50.8%
28.9%
29.2%
31.5%
35.8%
37.9%
Tele-bankers/ Tele-callers
Check-out counter
Relationship managers
(banking)
Asking questions
to salespeople
Customer support/
call centers
Preference Today Preference 3 years from now
Successful integration in other
industries – coupled with increasing
consumer appetite for voice-enabled
applications and devices – points to a
clear opportunity for FS firms.
Voice Assistants – The New Glass!
8
9. 3. Although voice assistant adoption is slow in
FS, some firms identify quick wins
Compared with other industries, financial services has been
slow to adopt voice assistant technology. Except for a few
large organizations, most firms have yet to embark on the
journey.
3.1. Financial services’
innovation challenge
Across the financial services industry, firms face challenges
such as regulations, cybersecurity, and stakeholder buy-in for
significant investments, which hamper innovation and impact
time-to-market for products and services.
Regulatory compliance is a primary focus for financial
institutions because adherence is not an option. Firms are
investing vast amounts of money and resources to remain
compliant with a growing array of regulations.
FS firms handle customers’ highly-confidential financial and
personal data which keeps susceptibility to breaches and
cyber attacks top of mind. They must plug all vulnerable entry
points to ensure maximum security.
To venture into technologies such as artificial intelligence
(AI), advanced data analytics, and real-time data processing,
FS executives are challenged to quantify specific benefits,
establish return on investment (ROI), and evaluate potential
risks. A sound business case must convince stakeholders that
a significant investment is worth making and risks are worth
taking. Moreover, finding this right talent to deploy these new
technologies may be challenging, as skilled resources are not
widely available within the industry.
Although financial services firms face challenges, they
need to innovate and experiment with new technologies to
create a sustainable business that meets the demands of a
competitive future.
FS firms may have had a slow start in adopting voice
assistants, but they will need to identify opportunity areas
and build a sound, comprehensive strategy to realize voice-as-
a-channel goals.
3.2. How to identify voice
assistant use cases
Customers are making voice-based assistants an integral
part of their daily lives, and with more industries adopting
voice assistants, FS firms will need to start integrating these
voice-based technologies into their customer acquisition
and retention strategies, marketing, sales, and customer
experience strategies.
Leveraging voice assistants
for internal operations
FS firms can leverage voice assistants for their internal
operations to increase the productivity and efficiency of their
employees and sales executives.
Intranet-based voice assistants can act as a self-service portal
that enables banks/insurance internal employees to raise
issues, tickets, and consult for decisions and process support.
Voice assistants can support internal communication by
gathering employee insights from different branches and
upon analyzing the data collected it can enable the managers/
stakeholders to take more informed and innovative steps.
Additionally, voice assistants can provide banks/insurance
sales personnel with detailed product information and clients’
360-degree profile, allowing the right products to be pitched
in a personalized way. Voice assistants can support sales
executives in setting meetings and schedules, and in tasks
such as filling out forms and information validation.
Insurer New York Life is rolling out Alexa features to its
12,000 agents, enabling them to get quick details on policies
and prepare for meetings. Agents can rely on Alexa to figure
out details such as the number of policies and policy value
held by a customer or to update them on the latest products
and services the insurance firm is offering.11
UBS is piloting intelligent virtual assistant Amelia on its
back-office employees. Amelia is working with client sales
assistants responsible for moving funds from deceased
account holders to beneficiaries and is helping staff confirm
information and fill out forms. UBS began an initial U.S.
pilot with a dozen client sales assistants and planned to get
the application up and running for its client sales assistants
around the world this year. UBS is also running another
Amelia pilot with the bank’s internal tech desk in the U.K.12
Voice assistants for banking firms
While voice assistants can help to organize and manage
customers’ daily-life routines, they can act as a channel and
offer voice-based services that extend beyond personalized
assistance to provide banking services, too.
Customers have been using financial apps for personal
banking for a long time as it allows them to perform banking
tasks on mobile devices without personal interactions. Voice-
enabled digital banking goes a step further, by providing the
convenience and luxury to the customers, enabling them to
make banking operations using only voice.
11 Bloomberg, “JPMorgan Brings Amazon’s Alexa to Wall Street Trading Floors,” Hugh Son and Katherine Chiglinsky, March 26, 2018,
https://www.bloomberg.com/news/articles/2018-03-26/jpmorgan-brings-amazon-s-alexa-to-wall-street-trading-floors
12 Tearsheet, “UBS is testing a cognitive agent on its back-office employees,” Suman Bhattacharyya, September 5, 2017,
https://www.tearsheet.co/artificial-intelligence/ubs-is-testing-a-cognitive-agent-on-its-back-office-employees
9
10. A few banks have started supporting fundamental voice
interactions, such as checking account balances, transferring
money, and making payments. Voice assistants enable
better segmenting, targeting of customers, and delivering
personalized offers based on customers profile data or life
events. Targeting the right customers based on their profile
data, and catering to them with the right products and
services at the right time and right place, can significantly
increase the conversion rate. Voice assistants can also enable
basic customer query and issue resolutions.
Some banks provide customers voice-assisted services today.
Capital One13
was among the first to enable customers to
access their accounts via the Amazon Alexa device. Realizing
that conversational interfaces are the future of technology
engagement, Capital One provides a differentiated customer
experience, that makes it easy to manage money ―whenever
and wherever. Capital One Skill enables real-time access to
everything from bank accounts to credit cards and loans.
Customers can control their money hands-free and intuitively.
BBVA’s artificial intelligence voice assistant MIA was launched
within Turkish bank Garanti to enable users of the mobile
app to make transactions by voice. A customer can access
the latest account activity, perform transfers, and learn the
exchange rate, via voice. Around, 1.3 million customers have
had more than 12 million interactions with MIA.14
Customers
also can receive regular updates on existing mortgage rates,
interest rates, stock and portfolio updates, etc.
Barclays15
has enabled mobile payment for its customers
via Apple’s virtual voice assistant Siri. Customers have an
option to pay existing payees or mobile contacts without
having to open the banking app or put in any passwords.
Using their voice, Barclays customers can ask Siri to make
their payment and authenticate it using Apple’s Touch ID
fingerprint recognition. Voice assistants can enable banks
to provide customers, information about transactions
and spending’s, giving customers a consolidated view on
loans and mortgages, track their dues on credit cards, and
bill payments.
Bank of America’s16
early vision of voice-assisted service
led to investment in Erica, which was designed to help
customers manage their financial lives using predictive
analytics and cognitive messaging. Modeled on a personal
banker, Erica took customer relationships to the next level
of personalization. Erica has all the customer’s data, along
with thousands of machine learning inputs that provide even
more information about the customer. Customers use Erica
to search for past transactions across all accounts, navigate
the mobile app to view bills and schedule payments, and
transfer money between accounts. As Erica learns from
these transactions, she can offer customers insights and
advice and, from there, proactively advise rather than recite
stored information.
13 Alexa Blogs, “The Story of the Capital One Alexa Skill,” Zoey Collier, December 16, 2016, https://developer.amazon.com/blogs/alexa/post/
c70e3a9b-405c-4fe1-bc20-bc0519d48c97/the-story-of-the-capital-one-alexa-skill
14 BBVA website, “Efma recognizes Garanti Bank’s mobile voice assistant,” Luz Fernández Espinosa, February 17, 2017,
https://www.bbva.com/en/efma-recognizes-garanti-banks-mobile-voice-assistant/
15 CNBC, “People in the UK are now able to make payments by asking Apple’s voice assistant Siri,” Ryan Browne, August 23, 2017,
https://www.cnbc.com/2017/08/23/barclays-customers-can-now-use-apple-virtual-assistant-siri-to-bank.html
16 Tearsheet, “Inside the development of Erica, Bank of America’s AI-powered bot,” Tanaya Macheel, July 28, 2017,
https://www.tearsheet.co/artificial-intelligence/inside-the-development-of-erica-bank-of-americas-ai-powered-bot
Figure 6: Voice assistant use cases for banking
Basic checks on account balances, and due dates of credit cards
Consolidated view of dues and payments
Updates on interest rates, offers, stock quotes, products
and services
Make payments, transfer/send money to different accounts
Enable customers to pay rents, bills, loans, and mortgages
Scheduling payments
Handling customer queries
Solving customer issues and concerns
Account/
Product/Market
Information
Transactions
Customer
Support
10
Voice Assistants – The New Glass!
11. Voice assistants for insurance firms
The insurance industry can benefit from voice assistants to
improve different aspects of their business across the value
chain.
Today’s customer wants to purchase a product or service
that is personalized without going through the complicated
process of paperwork or interacting with a customer
representative. Based on a customer’s intrinsic needs,
insurance firms can enable voice assistants to select the right
product for them.
Voice assistants can detail out different policies, providing
comparisons between different policies so that customer
can choose the best policy. Voice assistants can collect
specific information from customers and generate an
insurance quote.
Insurer Liberty Mutual offers an Alexa skill to help navigate
the insurance-quoting process. Customers can obtain an
auto insurance estimate through voice interaction with their
Guestimator tool.17
Insurance companies can use assistants to imitate sales
representatives for conversion of leads and to upsell or cross-
sell their products and services.
Voice assistants can substantially reduce the claims
management process, by providing the data for FNOL (first
notice of loss) and FROI (first report of injury) in a structured
and efficient manner. Claim adjusters will have structured
information available and will be able to focus on the client.
With the level of complexity involved in insurance policies
and processes, voice assistants can act as a perfect customer
representative and resolve customer issues.
The customer can have immediate answers to day-to-day
questions without calling the insurance company, thereby
reducing calls to customer representatives. This will free up
customer representatives, time for entertaining more critical
issues or queries.
Multinational insurer Aviva was the first UK insurer to launch
an Alexa Skill on Amazon’s Echo voice-activated device. Aviva
is experimenting with an insurance jargon-buster skill on
Alexa, which will allow its users to get instant voice-controlled
access to a glossary of over 300 insurance terms and their
meanings.18
The customer can regularly check account details such as
claim eligibility, policy expiration, etc. – all the related policy
details 24/7.
Allstate Insurance is releasing a new account-specific skill for
Alexa to help customers resolve questions regarding the due
date or minimum amount of their next invoice.19
Figure 7: Voice assistant use cases for insurance
Source: Capgemini Financial Services Analysis, 2018
Assisting Customers in Product Selection
Policy Comparisons and Quote Generation
Up Selling or Cross Selling of Products
Acting as a Sales Representative
Policy Servicing
Customer Onboarding and KYC
Renewing Insurance Policies
Claims Servicing
Customer Servicing
Value-Added Services
Product
Design
Front
Office Underwriting
Policy
Administration
Claims
Management
17 Liberty Mutual Insurance website, “Amazon Alexa Skill for Liberty Mutual,”
https://www.libertymutual.com/liberty-mutual-mobile/amazon-alexa, Accessed August 2018
18 Actuarial Post, “Aviva launch Alexa Skill on Amazon’s Echo,” January 4, 2017,
http://www.actuarialpost.co.uk/article/aviva-launch-alexa-skill-on-amazon%E2%80%99s-echo-10528.htm
19 Allstate Insurance website, “Allstate Insurance Skill for Alexa,” https://www.allstate.com/alexa-skills.aspx, accessed August 2018
11
12. Voice assistants can support smooth customer onboarding
and know-your-customer (KYC) processes. During policy
renewal, voice assistants can provide an update on the policy,
or if there is any need to change for a better policy. Similarly,
they can handle requests for vehicle assistance, advise a
customer while buying a home or a car, and provide feedback
on a customer’s driving.
3.3. Potential opportunities
FS firms that have embarked on this journey have yet to
realize the full potential of the voice-assistant channel. Firms
are providing basic interactions, and consumers are left to
hop between channels to finish their activities.
There is a need for financial service firms to shift to more
complex interactions in which voice assistants answer open-
ended questions, provide consultative and advisory services,
and customers experience a conversation rather than a rules-
based interaction (Figure 8).
FS firms can use a voice assistant as a personal financial
manager to provide financial advice to the customer, such as
determining:
• Whether customers’ retirement savings will be sufficient
• The amount of upfront investment necessary to purchase
a home
• Whether a long trip is financially feasible.
Financial services firms still have a long way to go. With
maturing conversational ability of voice assistants, firms will
be able to perform more complex tasks and provide more
personalized and contextual advice to customers. For this
shift, financial services firms need to invest their time, talent,
technology, tools, and platforms.
Figure 8: Level of conversational maturity ― FS voice assistants
Source: Capgemini Financial Services Analysis, 2018
Product/ Market Informvation Account Information Transaction Financial Advice
BasicRulesBased
Interactions
ComplexAI-Based
Interactions
FS Industry is Here Today
FS Industry Needs to be Here
Given the high expectations of
customers and relatively mundane
experience offered by today’s voice
assistants, banks are left with the
rather steep task of upskilling to
meet user demand.
Voice Assistants – The New Glass!
12
13. 4. Devise a strategy for voice-based customer
service
The opportunity is clear. To embrace Conversational
Commerce channels, scope lies in the following areas:
1. Ease circulation of basic information, such as transactional
information and market information
2. Expedite account activities such as transfers, profile
updates, etc.
3. Provide quick and intelligent input to the users regarding
product recommendations and PFM (personal finance
management) recommendations
4. Integrate firms’ content to aid users in different phases of
their buying journey.
As voice has emerged as a new channel and can no longer
be ignored, strategy is critical as firms determine the best
approach for voice implementation.
4.1. The right voice strategy
What is the right voice for a firm?
Humans by nature crave intimacy, and they are much more
likely to get emotionally attached to their assistants and forge
a personal connection through voice. A resounding 72% of
users in Singapore wanted their brands to have unique voices
and personalities for their apps.20
FS firms that build their own voice assistants can find their
voice and develop a closer relationship by earning customers’
emotional affinity. Firms can offer customers a natural voice
experience while communicating with business systems and
making transactions. Defining the right voice is crucial as it
must fit the brand and articulate attributes that build brand
identity. To make their brand recognizable, firms need a voice
character based on their persona that sounds functional, or
playful, or efficient dependent on the brand while keeping
interactions consistent over time.
Should firms start thinking from
an omnichannel perspective?
Voice assistants may soon become a mainstream channel
as more than two-thirds of customers find voice more
convenient than mobile or any other channel (Figure 9).
The most notable benefit for the customer is the convenience
part, as for some scenarios voice is just a better interface,
more comfortable than navigating an application on a device,
that may or may not be close by.
It allows the customer to perform hands-free operations,
without the need to touch the screen or type anything, which
saves time and allows the customers to multi-task.
Figure 9: Reasons for customers preferring voice assistants over mobile apps/websites
Source: Capgemini Financial Services Analysis, 2018; Capgemini Research Institute, Conversational Commerce Survey, October–November
2017, N=5,041 consumers in the US, UK, France, and Germany.
51.6%
56.4%
56.5%
65.8%
68.9%
40% 50% 60% 70% 80%
It provides better deals/offers
They help me automate my routine
shopping tasks (e.g.: ordering from my
monthly grocery list)
It feels more personalized to my needs
It allows me to multi-task and do things
hands-free (e.g.: order food while driving)
It is more convenient
20 Forbes, “Voice Assistants: This Is What The Future Of Technology Looks Like,” Herbert Sim, November 1, 2017,
https://www.forbes.com/sites/herbertrsim/2017/11/01/voice-assistants-this-is-what-the-future-of-technology-looks-like/#60781f4c523a
13
14. With more customers preferring voice assistants over mobile
and websites, FS firms should prepare strategies that consider
mobile and website as well as voice.
Should firms take a
device-agnostic approach?
While building a voice-assistant app or device, firms must
remain future-focused and create their platform not on
today’s technology, but with a vision that can scale. Firms
will need to have the technology, infrastructure and a team
of agile developers to realize this vision. If the firm doesn’t
possess these capabilities, then the best bet is to find a
flexible solution to run on third-party devices currently used
by customers.
To set the voice assistant stage, firms will need to look deeper
to understand the technology and how well the potential
platform can adapt for the future, or risk continually chasing
the next big thing which may harm customer experience.
4.2. Understanding the barriers
and propelling consumer adoption
As voice assistant technology matures, there are risks and
limitations posed by present-day voice assistants. FS firms
will need to plan strategies to overcome them or minimize
their impact.
Privacy
Voice assistant devices are always in the listening mode,
as they are waiting for the activation phrases, and once it
is awake, it records what is said and sends that recording
(over an encrypted connection) to the backend servers. The
potential danger from “always listening” is that, there is
always a possibility of someone hacking into these devices
remotely and using it as a listening device.
Security
Security remains a significant hindrance as users/non-users
do not trust voice assistants to make decisions on their behalf
(Figure 10).
Many voice assistant users are open to experimentation
and are ready to automate some routine transactions. For
non-users, one of the biggest deterrents is the possibility
of impersonation; someone else might transact without
their knowledge.
Firms are working toward a solution, maybe a two-factor
authentication where more than one authentication method
is used such as a fingerprint or retina scan. Currently, voice
assistants can only recognize speech (anyone’s voice). They
do not identify one specific voice for biometric purposes.
However, voice recognition technology is improving, and the
end goal may be to verify a voice signature.
Figure 10: Top concerns for users and non-users hindering making a purchase via a voice assistant
Source: Capgemini Financial Services Analysis, 2018; Capgemini Research Institute, Conversational Commerce Survey, October–November
2017, N=5,041 consumers in the US, UK, France, and Germany.
27.6%
20.3%
31.7%
12.3%
36.6%
16.0%
17.4%
19.2%
23.2%
37.0%
0% 20% 40% 60%
I would like to try it a few times before I can
start trusting my voice assistant enough to
order on its own.
I would like to know what criteria the voice assistant
is basing this decision on
I would rather set-up my preferred order
on my first transaction and have my
Voice Assistant use it for future orders.
I fear that someone might impersonate me and
order without my knowledge
I do not trust Google/Siri/Amazon to make a
decision with my interest in mind
Non-User User
14
Voice Assistants – The New Glass!
15. 21 Techleer, “Google gives just 4.9% word error rate in Speech Recognition,” Sidhant Kandpal, May 22, 2017,
https://www.techleer.com/articles/30-google-gives-just-49-word-error-rate-in-speech-recognition/
Understanding diction and accent
A total of 80.5% of respondents in our survey said they
would feel compelled to use voice assistants if they could
understand the respondents’ diction and accent.
Humans speak in many different languages, slang, and
dialects, and due to a lack of punctuation, voice assistants
may find accents challenging to grasp. Voice recognition
accuracy has been steadily improving, and Google reported
a word error rate decrease from 8.5% in July 2016 to 4.9% in
May 2017.21
Voice recognition aims to understand these nuances, but it is
still not perfect. Technology firms continue to pursue efforts
to expand and perfect these capabilities.
Conversational maturity
Voice assistants are not intelligent yet. Conversational
interface technology must leapfrog before it can be called
intelligent. Firms can add more context, such as location,
calendar information, past behavior, and sensor data from
the phone, which could narrow this down, and enable a better
and quicker response from the voice assistant.
Thus, there will be scenarios in which voice assistants will
need to be supported by manual interventions. Whenever the
intelligence of voice assistant is limited, there will be a need
for support by actual CSRs (customer service representatives).
15
16. 5. Conclusion
In recent years, we have witnessed the rapid adoption of
voice assistants across geographies. More industries are
now integrating voice assistants. Consequently, interactions
between users and voice assistants are growing.
Financial services firms need to understand that voice
as a channel is real. Customers are using voice assistants
extensively in their daily lives, and with increased time and
money spent on voice assistants, opportunities for financial
services firms are enormous. Financial services firms need to
be a part of this growing ecosystem, be in front of customers
who are using this channel extensively. It is vital for firms
to consider a full-blown strategy, wherein they identify
impactful use-cases using voice as a channel and start
plugging their offers.
Voice strategy should be a part of firms’ overall digital
strategy, rather than a single standalone strategy. Voice
assistant experience needs to be integrated into the overall
customer journey as the customer is shifting through
different channels based on their preference. Financial
institutions should ensure they include this voice channel into
their overall omnichannel strategy and drive personalized
conversations. This requires financial institutions to develop
capabilities to bring a unified customer experience strategy
across the digital channels with voice channels woven into the
overall channel mix.
16
Voice Assistants – The New Glass!
17. References
1. Capgemini Research Institute, Conversational Commerce Survey, October–November 2017, N = 5,041 consumers in the US,
UK, France, and Germany, accessed at
https://www.capgemini.com/resources/conversational-commerce-dti-report/
2. Gartner, Inc.: “Market Insight: How to Exploit Conversational Artificial Intelligence to Drive Digital Commerce,” Adrian Lee,
Deacon D.K Wan, August 9, 2017.
3. “AI Will Revolutionize Digital Experiences,” Forrester Research Inc., September 11, 2017.
4. “Begin Designing Your Conversational Banking Strategy Now,” Forrester Research Inc., March 8, 2017.
5. Voicebot.ai, “China to Overtake UK and Germany in Smart Speaker Installed Base in 2018,” Bret Kinsella, July 10, 2018,
https://voicebot.ai/2018/07/10/china-to-overtake-uk-and-germany-in-smart-speaker-installed-base-in-2018/
6. Alexa Blogs, “The Story of the Capital One Alexa Skill,” Zoey Collier, December 16, 2016, https://developer.amazon.com/
blogs/alexa/post/c70e3a9b-405c-4fe1-bc20-bc0519d48c97/the-story-of-the-capital-one-alexa-skill
7. Tearsheet, “Inside the development of Erica, Bank of America’s AI-powered bot,” Tanaya Macheel, July 28, 2017,
https://www.tearsheet.co/artificial-intelligence/inside-the-development-of-erica-bank-of-americas-ai-powered-bot
8. Techcrunch, “Voice shopping estimated to hit $40+ billion across U.S. and U.K. by 2022,” Sarah Perez, March 2, 2018,
https://techcrunch.com/2018/03/02/voice-shopping-estimated-to-hit-40-billion-across-u-s-and-u-k-by-2022/
9. Wirecutter, “What Is Alexa? What Is the Amazon Echo, and Should You Get One?” Grant Clauser, July 11, 2018,
https://thewirecutter.com/reviews/what-is-alexa-what-is-the-amazon-echo-and-should-you-get-one/
10. BBC, “Walmart and Google to offer voice-enabled shopping,” August 23, 2017,
https://www.bbc.com/news/business-41021783
11. ZDNet, “Target partners with Google for voice shopping through Google Express,” Natalie Gagliordi, Oct 12, 2017,
https://www.zdnet.com/article/target-partners-with-google-for-voice-shopping-through-google-express/Ibid
12. The Verge, “BMW is integrating Alexa into its cars in 2018,” Casey Newton, September 27, 2017,
https://www.theverge.com/2017/9/27/16372566/bmw-alexa-integration-2018
13. Bloomberg, “JPMorgan Brings Amazon’s Alexa to Wall Street Trading Floors,” Hugh Son and Katherine Chiglinsky, March 26,
2018, https://www.bloomberg.com/news/articles/2018-03-26/jpmorgan-brings-amazon-s-alexa-to-wall-street-trading-floors
14. Tearsheet, “UBS is testing a cognitive agent on its back-office employees,” Suman Bhattacharyya, September 5, 2017,
https://www.tearsheet.co/artificial-intelligence/ubs-is-testing-a-cognitive-agent-on-its-back-office-employees
15. CNBC, “People in the UK are now able to make payments by asking Apple’s voice assistant Siri,” Ryan Browne, August 23,
2017, https://www.cnbc.com/2017/08/23/barclays-customers-can-now-use-apple-virtual-assistant-siri-to-bank.html
16. BBVA website, “Efma recognizes Garanti Bank’s mobile voice assistant,” Luz Fernández Espinosa, February 17, 2017,
https://www.bbva.com/en/efma-recognizes-garanti-banks-mobile-voice-assistant/
17. Liberty Mutual Insurance website, “Amazon Alexa Skill for Liberty Mutual,”
https://www.libertymutual.com/liberty-mutual-mobile/amazon-alexa, accessed August 2018
18. Actuarial Post, “Aviva launch Alexa Skill on Amazon’s Echo,” January 4, 2017,
http://www.actuarialpost.co.uk/article/aviva-launch-alexa-skill-on-amazon%E2%80%99s-echo-10528.htm
19. Allstate Insurance website, “Allstate Insurance Skill for Alexa,”
https://www.allstate.com/alexa-skills.aspx, accessed August 2018
20. Forbes, “Voice Assistants: This Is What The Future Of Technology Looks Like,” Herbert Sim, November 1, 2017, https://www.
forbes.com/sites/herbertrsim/2017/11/01/voice-assistants-this-is-what-the-future-of-technology-looks-like/#60781f4c523a
17
18. About the Authors
Babu Mauze
Executive Vice President, Banking and Capital
Markets Global Business Unit
Babu is Executive Vice President with Banking and Capital
Markets Global Business Unit with more than twenty years
of experience in strategic alliances, market development,
and solutions
Amith Chandrashekar
Senior Consultant, Market Intelligence Team
Amith is a Senior Consultant with the Market Intelligence
Team in Capgemini Financial Services with more than six
years of IT consulting and strategic analysis experience in
the banking industry.
The authors would like to thank William Sullivan, Chirag Thakral, and Tamara Berry for their contributions to
this publication.
For further information, please contact Chandramouli.a.venkatesan@capgemini.com or
Chayanika.agarwal@capgemini.com
Chandramouli Venkatesan
Senior Director, Digital Go-to-Market Lead for
APAC, Capgemini Financial Services
Chandramouli is a Senior Director and Digital go-to-market
Lead for APAC in Cagemini Financial Services with more
than seventeen years of experience in technology products,
services, and business.
Chayanika Agarwal
Senior Consultant, Digital Experience Team
Chayanika is a Senior Consultant with Digital Experience
Team in Capgemini Financial Services with more than five
years of experience in business consulting and designing
digital solutions.
18
Voice Assistants – The New Glass!
19. Disclaimer
The information contained herein is general in nature and is not intended, and should not be construed, as professional advice or opinion
provided to the user. Furthermore, the information contained herein is not legal advice; Capgemini is not a law firm, and we recommend that
users seeking legal advice consult with a lawyer. This document does not purport to be a complete statement of the approaches or steps, which
may vary accordingly to individual factors and circumstances, necessary for a business to accomplish any particular business, legal, or regulatory
goal. This document is provided for informational purposes only; it is meant solely to provide helpful information to the user. This document
is not a recommendation of any particular approach and should not be relied upon to address or solve any particular matter. The text of this
document was originally written in English. Translation to languages other than English is provided as a convenience to our users. Capgemini
disclaim any responsibility for translation inaccuracies. The information provided herein is on an ‘as-is’ basis. Capgemini disclaim any and all
representations and warranties of any kind concerning any information provided in this report and will not be liable for any direct, indirect,
special, incidental, consequential loss or loss of profits arising in any way from the information contained herein.
19