- In October 2024, Lunar, a Nordic challenger bank, introduced its next-generation AI Voice Assistant powered by the GPT-4o model, becoming the first European bank to implement GenAI Native Voice technology. This assistant provides instant, personalized, 24/7 support, catering to diverse demographics and handling both simple and complex banking queries without queue time
- In July 2023, Glia launched an AI-powered virtual assistant designed to revolutionize online and phone banking interactions, enabling customers to communicate banking inquiries in their own words seamlessly
- In April 2023, City Union Bank Limited added a voice biometric authentication feature to its mobile banking app, enhancing security and providing customers with multiple authentication options
- In March 2023, LinkLive, a CCaaS provider, partnered with Kasisto to integrate Kasisto’s KAI platform into LinkLive. This collaboration aims to deliver personalized experiences at financial institutions across the U.S., benefiting regional banks and credit unions
- In February 2023, Union Bank of India introduced its Voice Banking solution, “युवा” (UVA), during the Uttar Pradesh Global Investors Summit-2023. UVA, accessible via Alexa, allows customers to inquire about their balance and transaction history 24/7 using voice commands
Frequently Asked Questions
The market is segmented based on Segmentation, By Component (Solution and Services), Deployment (On-premise and Cloud), Technology (Artificial Intelligence, Machine Learning, Natural Language Processing(NLP), and Others), Applications (Banking, NBFCs, Credit Unions, Financial Institutions, and Others) – Industry Trends and Forecast to 2032
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The Global Voice Banking Market size was valued at USD 6.20 USD Billion in 2024.
The Global Voice Banking Market is projected to grow at a CAGR of 14.2% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of Sonouth America as part of South America.