YES Bank to Deploy Speech-based Phone Banking

by Tabrez Khan    Aug 21, 2008

YES Bank is deploying a voice-based phone banking solution in its new contact centre. The technology developed by Cisco is an interactive contact center solution, which will enable users to, among other things, give voice commands in stead of punching in numbers for their phone banking needs.

Using this service, customers can perform routine enquiries or transactions just by speaking out predefined aided keywords. The service will also provide integrated access through email, web-chat, IVR, and voice to customers.

Currently, the customer will have a customer ID and PIN to access his/her account, but the bank intends to have biometric, speech-recognition for identity also, so that the need for PIN is done away with entirely, said Ravi Shankar of YES Bank.

Significantly, the company also plans to launch video interactive services in the near future.

“Although there are thousands of branches across the country, it is still underserved so far as banking is concerned. Customers expect consistent service and this contact center solution is a customer-enhancing experience,” said Anil Bhasin, vice president of Cisco.

Umesh Jain, CIO of YES Bank, said, “The YES Touch Phone Banking services enabled by Cisco technologies is the first-of-a-kind integration across all channels (voice, IVR, email, chat), voice based, speech-enabled contact center implementation in the Indian financial services sector. YES Bank customers will now be able to access their accounts 24 x 7 via YES Touch Phone Banking services that will support all business related queries and transactions.”

Cisco provided network lifecycle services that included design, installation, integration, and operation. The applications that comprised this solution included Cisco IPCC (IP Contact Center) Suite, Scansoft Speech Engine, and Real Speak TTS (Text-to-Speech), Knoahsoft Logger, Survey Application and System Integration & application development on IVR (Integrated Voice Response). .

The IP-based contact center solution is based on Nuance Speech Recognition Platform and has been executed by Servion, a Cisco technology partner.

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