Once, a bank meant queues, opening hours and paper forms. Today? An app on your phone, talking to a bot, logging in with a fingerprint. Digital banking has undergone a huge transformation, and interfaces play a key role in this change – the way a customer communicates with a bank.
In this article, we look at three of the fastest growing trends: voice banking, chatbots and biometrics. Find out why it’s worth investing in them and how they change customer experiences.
Voice banking – conversation instead of clicks
Voice banking is a technology that allows users to manage finances using voice commands. Some banks in Poland are already testing solutions based on integration with voice assistants (e.g. Google Assistant, Siri, Alexa), and voice banking is developing very dynamically around the world.
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Why is voice banking gaining popularity?
Voice banking allows users to perform simple operations, such as checking a balance, making a transfer or ordering a payment, without having to launch an application or log in to online banking. All you have to do is say a command to take care of a matter that until recently required a dozen or so clicks in a few seconds.
Voice banking is not only convenient, but also makes financial services more accessible to the elderly, visually impaired or those with limited mobility. Thanks to voice support, they can manage their finances without having to use small screens or complicated interfaces. For many users, voice banking becomes a real support in everyday functioning and eliminates the barrier of digital exclusion.
Modern voice banking systems are equipped with advanced voice recognition technology, which analyzes not only words, but also tone, intonation and pace of speech. This allows for precise confirmation of the user’s identity, which significantly increases the level of security. In many cases, this technology is even more difficult to “impersonate” than traditional passwords or PIN codes. What’s more, the development of voice biometrics means that every conversation with the system is encrypted and archived in accordance with the highest data protection standards.
Voice banking is not just the future – it is already a reality in some countries. In Poland, we can expect greater adoption in the next two years.
Banking chatbots – 24/7 service without queues
Chatbots in banking are now a standard. More and more financial institutions are implementing solutions that allow users to get help 24/7, without having to wait for a connection with a consultant.
Main advantages of banking chatbots:
- Quick answers to frequently asked questions
- Support for multiple users at the same time
- Possibility of integration with mobile apps and websites
Modern chatbots can not only answer questions, but also initiate transfers, remind about payments, and even… joke. Importantly, many of them learn on the fly, analyzing user behavior and adapting to their communication style.
Biometrics in Banking – Next Generation Security
Biometrics is a technology that has revolutionized the way we log in and authorize transactions in recent years. Fingerprints, facial recognition, and even iris scanning – all to make banking safer and more convenient.
Why is biometrics gaining customers’ trust?
- Difficult to counterfeit – more secure than passwords or PINs
- Fast and intuitive – just look into the camera or put your finger
- Biometrics, i.e. logging in with a fingerprint, face scan or iris, fits perfectly into the requirements of the so-called strong customer authentication (SCA), introduced by the EU PSD2 directive. According to the regulations, each online transaction must be confirmed by at least two of the three elements: something the user knows (e.g. a password), something they have (e.g. a phone) and something they are – and this is where biometrics comes in. Thanks to this, banks can simultaneously ensure a high level of security and simplify the processes of logging in or authorizing operations. Customers no longer have to remember complicated passwords or copy SMS codes – just put your finger or look into the camera. This solution is not only convenient, but above all compliant with applicable regulations, which increases user trust and makes it easier for banks to meet legal requirements.
In Poland, most large banks now offer biometric logins, and users are increasingly willing to use them. This is a sign that the technology has ceased to be a novelty and has become commonplace.
The Future of Banking Interfaces
Banks are increasingly resembling technology companies – they are competing for user attention not only with their product but also with their experience. The interface, or the way a customer contacts a bank, is becoming a key element of competitive advantage.
What can we expect in the coming years?
The world of digital banking is constantly evolving – and what we consider modern today may become the standard tomorrow. Here are three directions that will most likely dominate the future of banking interfaces.
- Contextual interfaces – adapting to the user’s situation
- Behavioral biometrics – analysis of the way we write or hold the phone
- Integration with devices that we wear – watches, glasses, rings
One thing is certain – banks that do not invest in modern interfaces will be left behind. Today, customers expect simplicity, accessibility and security – and voice banking, chatbots and biometrics are a great answer to these needs.
