An Introduction to Voice-First Investing: Key Steps to Harnessing its Potential

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18 October 2019


Smart speakers such as Google Home and Amazon Alexa have penetrated a significant portion of US households, presenting advisors with a unique opportunity to begin migrating services over to a platform that is not only highly accessible, but also enables a very natural method of client interaction. This report looks at the applications of voice on smart speaker devices as it applies to the Wealth Management space, the broader financial services industry, and the considerations involved with deployment.

Financial institutions recognize the opportunity in leveraging voice-enabled services to not only reduce friction in the client experience but also to realize cost rationalization opportunities. Given the technology is still in its primal stages, it is best being used to scale the automation of simple/manual processes. Common reasons for deployment include freeing up front line staff, deflecting call volume from the contact center, and minimizing back office data entry.

Complexity of WM Use Cases on Google Home & Amazon Alexa