Speech recognition breaks into financial services

An Australia-wide financial services group has joined Telstra and other large companies in revamping call centres by investing in voice recognition technology.

The $1 million deal with VeCommerce is by a diversified financial services organisation that wishes to remain anonymous to ease customer transition to the technology.

VeCommerce managing director, Paul Magee said the first stage of the technology was being deployed now and will be completed by the end of the year.

"The technology will service phone banking, insurance and normal enquiries. Once a person says what they want, they will be put through to either a live or automated service, depending on the request.

"The NLSR (natural language speech recognition) system will be used to direct the enquiry to the right area."

Following the completion of stage one, Magee said the system will be expanded to include more applications and to handle a larger capacity.

VeCommerce has installed its technology at the Australian Tax Office, TAB Queensland, TAB Limited, Pizza Hut, Caltex and Mobil Oil.

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More about Caltex AustraliaPizza HutTelstra CorporationVeCommerce

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