Aaron Tech-Pro Private Limited

As can be seen from the previous table, although the current regulations permit information dissemination as well as significant transactions on automated phone banking, degree of automation varies. Survey indicates that customer acceptance of IVRs’ is dependant on the levels of comfort offered by the IVR as well as the prospect of completing a transaction without the wait for an operator. The number of questions a caller has to answer before the system recognizes his/her need and the system’ ability to understand speech determine the comfort level offered by the IVR.

Savings to the Bank by using Phone Banking IVR

Operational Research study conducted on the impact of banking functions on establishment expenditure concluded the following:

Unit cost of a typical non-cash transaction comes down by as much as 12.45% to 62% due to reduction in manpower costs. These savings are much higher for non-transactions such as serving requests for duplicate bank statements, faxing copies of transaction records.
Each (8 telephone-port) IVR system, configured for phone banking, can replace over 12 call center assistants.

TeleCanor an IVR with a Striking difference:-

As can be seen from the following table, callers’ experience higher convenience with TeleCanor, where most often they get what they want from just one question, insead from a maze of question/answer menus (unlike other IVRs). Moreover, TeleCanor offers a realistic choice to the caller to Complete his Transaction (with fax/email record). In addition, a caller can easily setup automatic alerts on his/her account just with a phone call and a few commands.

Other innovative technology makes TeleCanor more suitable to Indian environment such as:-

TeleCanor speech recognition engine recognizes up to 1,100 English and Indian first names while the speech synthesizer speaks out these names with the correct accent. This helps the system to speak out informal and personalized greetings/responses to make clients even more comfortable.
TeleCanor can understand commands spoken out in English sentences while understanding simple numeric choices in Indian languages.
TeleCanor comes with an intuitive ‘windows’ based customization wizard that makes it easy to setup a new choice to the caller with a just a few mouse clicks.
Unlike the rest of the IVRs, TeleCanor IVR has built-in support for other media, so that confirmations/reports of customer transactions go to the customer instantaneously through a media of his choice, such as fax or email.

TeleCanor can operate over the already existing Internet banking system of the bank eliminating the need to maintain a separate system as well as maintaining data integrity.

Contd..

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