AI-Powered Voice Automation for Banking & Financial Services

Deploy intelligent voice assistants tailored to banking operations live in 4 weeks with real-time insights, unlimited scale, and enterprise compliance.

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30% ↓

Cost per engagement

60% ↓

Response time

↑ 40%

CSAT

↑ 25%

Customer satisfaction

Industry Challenge for Banking and Financial Services

Banking and financial services struggle with increasing fraud risks, evolving regulations, digital disruption, and the demand for secure, real-time customer experiences.

High support volumes & costs

Banks handle millions of routine queries such as balance inquiries and password resets, which significantly drive up support costs. AI virtual agents offer a solution global banks are projected to save $7.3 billion by 2023 using chatbots and eliminate 826 million hours of manual work annually. Despite this, many institutions still rely on costly call centers for handling these repetitive tasks.

Lengthy KYC and onboarding

Verifying identities and processing loan applications often remain slow and manual. Although approximately 28% of KYC/AML processes now use AI, most compliance checks are still labor-intensive, causing delays and customer drop-off during onboarding.

Limited 24/7 service for critical need

Customers expect immediate, round-the-clock help for issues like fraud alerts, card freezes, or loan status updates. Traditional phone support and branch hours leave gaps, frustrating customers who demand instant resolutions in emergencies.

Strict compliance requirements

Financial institutions must meet PCI-DSS, GDPR, and other regulations. Every customer interaction needs accurate logging and data security. This adds complexity and rigidity to support processes – agents have to follow precise scripts and authentication steps, which can slow service if not automated.

Accelerate Operations, Boost Customer Satisfaction, and Scale Securely with Converscient.ai

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Voice-Powered KYC & Onboarding Automation

Automates identity verification and document submission via secure voice interactions, reducing onboarding time by up to 50%, minimizing dropout rates, and ensuring stringent compliance with PCI-DSS and GDPR regulations.

24/7 Self-Service Banking

Empowers customers to perform routine transactions like balance inquiries, fund transfers, payment of loans, and credit card activation anytime enhancing user convenience and reducing call center workload during peak hours.

Real-Time Fraud Detection & Alerts

Integrates intelligent voice screening for suspicious activities, enabling immediate fraud alerts and rapid response, which lowers potential financial losses and strengthens regulatory compliance efforts.

Seamless Integration with Core BFSI Systems

Connects effortlessly with leading banking software platforms (e.g., Fiserv, Temenos), core banking, loan origination, payment processing, and CRM systems ensuring consistent, accurate data flow and smooth customer experiences without costly legacy system disruptions.

Scalable Call Surge Handling During Peak Periods

Instantly scales voice AI capacity during high-demand events such as tax season, loan cycles, or market volatility, maintaining 99.9% uptime and service quality without additional human resources driving cost efficiency and improved customer satisfaction.

Key Use Cases in Banking and Financial Services

Voice AI enhances banking by enabling secure account access, automating customer support, assisting with transactions, and simplifying financial product inquiries.

Intelligent customer support

Handle common queries like account balance, recent transactions, branch hours, or card activation through a friendly voice assistant, reducing call wait times.

KYC & onboarding via voice

Guide customers through identity verification steps conversationally (capture OTPs, verify info), speeding up new account setup or loan applications with voice biometrics for security.

Loan status and information

Allow borrowers to call and ask “What’s the status of my loan application?” or get details on EMI due dates, payoff amounts, etc., without waiting for an agent.

Payment reminders & collections

Automated, polite voice calls remind customers of upcoming credit card bills or loan payments, and even enable making a payment or promise-to-pay within the call.

Fraud alerts and card control

Instantly notify customers of suspicious transactions with an automated call or SMS, then let them confirm via voice (e.g. “Press 1 if this transaction was yours”) or connect to an agent for immediate assistance.

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