Google and Symphony Communication Services, a cloud-based messaging and collaboration platform for financial services, have launched a new voice analytics offering for banks and other financial institutions. The service, called Symphony Voice Analytics, leverages Google Cloud’s artificial intelligence and speech recognition capabilities to transcribe, analyze, and archive voice conversations on Symphony’s platform.
How Symphony Voice Analytics works
Symphony Voice Analytics is an add-on feature for Symphony’s existing voice service, which allows users to make and receive voice calls within the Symphony app. The voice analytics service can transcribe voice conversations in real time or after the call, and provide insights such as sentiment analysis, keyword extraction, topic identification, and compliance alerts. The service can also archive voice conversations and make them searchable and retrievable on Symphony’s platform.
The service is powered by Google Cloud’s Contact Center AI (CCAI) and Speech-to-Text technologies, which use deep learning and natural language processing to understand human speech and generate accurate and meaningful transcripts. Google Cloud also provides security and scalability for the service, ensuring that voice data is encrypted and stored in compliance with regulatory requirements.
Why voice analytics is important for banks
Voice analytics can provide several benefits for banks and other financial institutions, such as:
- Improving customer service and satisfaction by understanding customer needs, emotions, and feedback, and providing personalized and relevant responses.
- Enhancing employee productivity and collaboration by reducing manual tasks, enabling faster and easier access to voice data, and facilitating knowledge sharing and learning across teams and departments.
- Increasing compliance and risk management by detecting and preventing fraud, identifying and resolving disputes, and ensuring adherence to policies and regulations.
According to David Gurlé, founder and CEO of Symphony, voice analytics can help banks transform their voice communications into a strategic asset. “Voice is a critical channel for financial services, especially in a hybrid work environment where face-to-face interactions are limited. By partnering with Google Cloud, we are bringing the power of AI to voice, enabling our customers to unlock new insights, enhance their workflows, and improve their compliance posture,” he said in a press release.
How banks can access Symphony Voice Analytics
Symphony Voice Analytics is available as a subscription-based service for Symphony’s customers, who can choose from different plans and features depending on their needs and preferences. The service is currently available in English, with plans to support more languages in the future.
Symphony Voice Analytics is one of the latest innovations from Symphony, which has over 500,000 users across 60 countries and 500 financial institutions, including some of the world’s largest banks. Symphony aims to provide a secure and compliant platform for communication and collaboration in the financial services industry, and has recently expanded its offerings to include video conferencing, chatbots, and market data integration.
