As much as we love the aforementioned local teller, she can’t oversee deposit and withdrawal requests by the thousands every minute of every day.
Natural language processing (NLP) is a subset of technology that focuses on interpreting the nuances of how human beings communicate.
You don’t want your bank to accidentally process an account request due to a misunderstood verbal cue, so financial institutions have set up rigid guidelines to restrict access, even if it means ignoring technology.But new-age NLP is rewriting the proverbial program.By creating symbiotic technology to interact more intuitively with the human voice, AI can assist both consumers and banks with ease.NEW-AGE NLP STUDIES THE INFLECTION OF WORDS RATHER THAN JUST DICTATING THEM DIRECTLY TO TEXT.
But vocal recognition can distinguish your vocal pattern from everyone else’s as an added measure of security.Financial institutions are finally recognizing the need for voice-activated AI in banking.
Sounds like progress!Deep Data DiveBanking is all about numbers.
In order to be successful, you want more notches in the plus column than the minus column, yet the financial sector, as a whole, has been losing out on valuable data for years.Enter new-age NLP.Data generally falls into one of two categories: structured and unstructured.