Barclays and Siri together
Banks – like big retailers – are beginning to realise that offering consumer choice is a key differentiator.
Voice based personal assistants like Siri will be used by some consumers but rejected by others. It’s also not a binary choice either, as the time, place, and context of any transaction will also come into play, and acceptance will improve over time. Banks that offer more consumer choice early – assuming it is reliable and secure – will retain existing and win new customers.
The technology to enable voice based personal assistants has increased significantly over the last few years and is accelerating in its performance, particularly as ever expanding data sources feed continuously improving machine learning algorithms. We can expect Siri, Cortana, Google and Alexa to become a standard mainstream mechanism of communicating with our digital world in the near future.