Chatbots and messenger providers using artificial intelligence are all the rage nowadays. With the new BOT technology, CORONIC offers true online banking via voice recognition – whether it is for Amazon Alexa, the banking client or the banking app. The data centre is connected to the FinTS or the bank backend. Soon, Access to Account (XS2A) services will also be provided. All servers processing client or bank account data are located in Germany, or, upon request, at the bank’s data centre.
PPI AG from Hamburg and CORONIC GmbH from Kiel have joined hands for the implementation of voice-recognition-based banking systems. The aim is not to enable modern voice assistants such as Alexa or Google to do home banking; instead, the objective is to provide a general frontend for all banking systems. It will be possible to transfer money on voice command thanks to a mobile banking app, the banking client’s PC or online banking browser. The bank already has its new voice interface in the backend too: FinTSn has already been integrated, XS2A and Instant Payment will be available shortly.
“CORONIC has been our technological partner for internet security since 2004. Their professional products and creative solutions are by far the favourite and most widely-used tools in the Deutsche Volksbanken and Raiffeisenbanken.”
Marketing Manager, VR-NetWorld GmbH, Bonn
Due to its highly innovative nature, the PROTECT security technology been granted the support of the WTSH (Body for Economic Development and Technology Transfer) by means of funds from the federal state of Schleswig-Holstein.
With the BOT technology, it will not only be possible to bank with Alexa, but also with any device that has a microphone and that can hear a voice command. A talking online banking browser, banking software on the PC or mobile app – technologically, this is not a problem. For instance, a transfer template could be completed in the banking client by using voice commands, or the user could simply ask the mobile app what the current bank balance is. Using voice commands, many online and mobile banking processes can be made much easier and quicker. Voice commands are processed via the CORONIC VoiceLIB (PC / mobile app) or the manufacturer’s voice interface (Alexa / Google Home) and transmitted to the BOT server. This is a form of Machine Learning (ML), Natural Language Understanding (NLU) or, to put it simply, Artificial Intelligence (AI). Once the system has understood what the client wants, the voice commands are processed in the syntax of the banking system. FinTS or traditional bank interfaces can be used, and shortly, Access to Account (XS2A) or Instant Payment too. The full AI, voice analysis and transmission of banking transactions takes place in the BOT server, i.e. within the bank’s data centre.