Open banking is facilitating innovation across the banking sector and ING has plans to use it for voice automated artificial intelligence services; the bank's vision includes voice automated banking services through devices such as Amazon Alexa and Google Home, where digital assistants can pay bills and provide personalized advice through voice prompts; the bank is seeking to utilize new concepts being developed in Europe and has invested EUR800 million ($945 million) in a digital transformation. Source
Chase will soon allow credit card customers to use voice authentication when dialing the call center, which will help to cut down on additional security questions; Chase will join TD, HSBC, Barclays and ANZ Banking Group in using voice authentication; the voiceprint is securely stored as a mathematical equation, and only works for verification with the bank’s system according to reporting by TearSheet; representatives can ask further authentication questions if needed, almost 30 percent of calls are requests for account access and improving efficiency will cut down on costs as well as time. Source.