Banking and financial services
Automatic high-accuracy subtitles for your accessibility needs, comply with the WCAG standards.
Combine artificial and human intelligence to bring you accurate and fast transcripts, captions and subtitles with ease.
Make your content accessible and reach new audiences with subtitles in +50 languages.
On-prem installation for sensitive information.
Improve searchability – each word is timestamp and searchable.
Powered by txtplay speech to text ASR engine that ensure highest accuracy and fast turn around time.
ASR engine with implemented financial language pack tailored for the finance industry.
Automatic speech recognition for your contact centers.
Integrated workflow with video platforms such as IBM Watson Video, Kaltura, Brightcove, 23V and Youtube.
EU directive & WCAG
Ensuring WCAG 2.1 compliance not only guarantees the most inclusive online banking experience for your customers but also mitigates the risk of legal action against your company. In recent years, there has been a surge in lawsuits targeting financial service institutions, ranging from smaller credit unions to well-established entities like TD Ameritrade. The reason behind this surge is simple: financial institutions are a vital part of everyday life for most people, and everyone deserves unhindered access to their services.
Achieving compliance goes beyond merely displaying a certificate or badge on your wall; it involves making a dedicated commitment to ensure the accessibility of your website to all users. Embracing this standard not only demonstrates sound business judgment but also provides the most reliable safeguard against potential litigation.
Speech-to-text is more than subtitles...
As per a survey conducted by PwC, a staggering 32% of customers are willing to abandon a brand they adore after encountering just one negative experience. The significance of excellent customer service cannot be overstated, as it plays a crucial role in retaining existing customers and attracting new ones.
Link to: PwC Survey
Banks frequently grapple with customer service challenges, where customers often find themselves bounced between employees and managers, having to repeat the same details. This is where speech-to-text software emerges as a solution. As we progress further into the 2020s, banks are adapting their services to leverage available technology.
Many prominent banks have embraced speech-to-text technology. For instance, the Royal Bank of Canada enables customers to pay bills using voice commands. The USAA offers members access to account balances, transactions, and spending patterns through Amazon's Alexa. Banks like U.S. Bank Smart Assistant provide valuable tips and insights to assist customers with their financial matters. Such implementations aim to reduce reliance on human employees whenever feasible.
Link to: The USAA
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Improve your CX & compliance
Financial language pack
Introducing the Financial Language Pack for speech-to-text transcription. Trained on 200,000 hours of earnings calls, it reduces errors by 40%.
Designed for finance, it covers compliance, fraud detection, analytics, financial news, and earnings calls. It accurately identifies finance language, avoiding confusion with abbreviations and acronyms like FX, SEC, GAAP. The Custom Dictionary feature enhances precise terminology identification.
RegTech and compliance
In the world of finance, constant vigilance is required for effective monitoring, supervision, fraud detection, and compliance with regulations like UDAP. Recently, Goldman Sachs faced a $1m fine from the CFTC for their failure to retain recordings of specific phone lines on their sales and trading desk.
Link to: Goldman Sachs Fine
Compliance remains a critical concern for banks of all sizes. Accurate and efficient speech recognition technology plays a pivotal role in enabling scalable monitoring, safeguarding businesses and institutions from reputational harm and regulatory penalties.
Improve customer experience
Enhance your entire offering with advanced speech-to-text intelligence. Our unified speech-to-text API empowers Contact Centers (CCaaS) with the ability to transcribe, comprehend, and create value for their customers.
By proactively understanding every customer call, your users can identify trends, discover pain points, and enhance processes ahead of any complaints.
Customer insight and analytics
Discover the untapped wealth of customer data hidden within voice interactions.
Through accurate transcription, conversations are transformed into searchable and analyzable text, unveiling invaluable insights into customer preferences, pain points, and emerging trends.
Schedule a demo
Thank you for your interest in our automatic speech-to-text service txtplay. Just fill out the fields to the right and we will get right back to you.
Please also mention in the message that this is for a bank or financial service purpose.
What can I expect?
Automatic transcription & integration with your preferred platform
High speech to text accuracy, up to 98%
Improve your searchability and accessibility of every conversation in your organization – every word is time-stamped and searchable.
Improve your customer satisfaction and CX
Schedule a demo
Thank you for your interest in our automatic speech to text service txtplay. We are happy that we can meet the needs of both professionals and amateurs alike with this amazing, new technology! Just fill out these fields below and we will get right back to you. No technical knowledge is required at all!
What can I expect?
Automatic transcription & Automatic subtitles
High speech to text accuracy, up to 94%
99% customer satisfaction