Intelligent Voice Bots for Digital Banking

Abstract

Current digital payment solutions are passwords or PIN-based and are complex and time-consuming process with 5+ steps including downloading an app, thereby impacting bandwidth and cost. Moreover, these are susceptible to phishing/vishing/theft/hacking. Also, visually impaired/specially abled are not able to access current payment processes. In this paper, “Voice Pay” solution has been developed which aims at making banking personal and possible for anyone using the most secured authentication which is “voice”. Without any additional app, it provides a solution that allows everyone (including visually impaired/specially abled) to perform banking operations with ease in the most secured way. It allows, from cumbersome 5+ step process, to an extremely cost-effective few seconds process making it simple, time-saving, and cost-effective process. It uses available ML and AI/NLP solutions of intelligent virtual assistants and is less vulnerable to breaches than any credential. Sample use case has been undertaken.