June 28, 2012 -
Nuance Communications, known for its voice and language solutions, has forged a partnership with Uniphore Software Systems, a fast growing software company specializing on delivering speech-based mobility solutions to businesses, to cater the growing financial market in India.
Uniphore will develop a mobile voice banking application that identifies customers with voice biometrics and processes entire transactions through the use of speech-based navigation. Users will be able to use their mobile phones, including low-cost feature phones, in making bank and commercial transactions. All transactions occur in real-time. It allows the user to choose what local language to use, and it provides customers with services such as account updates using Nuance’s text-to-speech and outbound text message technologies.
Nuance Voice Biometrics will use the customer’s voice as password. It will cater to the needs of clients living in rural areas of India where literacy levels are low and where access to personal computers and internet banking is limited.
Sunny Rao of Nuance Communications believes that “the use of voice biometrics in financial service applications provides the most scalable, secure and cost effective means of protecting and serving the interests of rural consumers in India.”
With Uniphore, they will be able to develop safe and convenient banking applications for this specific market.
Seeing through expansion later, Uniphore will ensure that bank regulations across the country are complied with, so it can offer its services to diverse segments of the population.
Umesh Sachdev of Uniphore Software Solutions is excited by the possibilities of utilizing Nuance’s solutions, especially in delivering secure, convenient banking applications to the rural market.
“Uniphore exists to deliver voice-based applications that promote business outreach across all social, economic and geographic markets by leveraging the ubiquity of mobile phones in India,” said Sachdev. “Nuance’s Speech Recognition and Voice Biometric Solutions are the best in the industry and with local support resources Nuance is the perfect partner.”