Central 1 launches Canada’s first voice banking service

Central 1 has launched Canada’s first authenticated voice banking service through the use of Amazon Alexa.

The credit union’s clients, Innovation Credit Union and Conexus Credit Union, will pilot the technology which will empower customers to command their bank account through voice alone. This service will be an added benefit to those visually impaired, or those unable to leave their homes or use computers.

Through the voice solution, customers will be able to complete payments, send money to vendors, transfer money between accounts, and get insights on their financial health.

Central 1’s platform uses human-like dialogue interactions, and utilises machine learning and AI technology to improve its accuracy.

The development of the software was completed in conjunction with design agency Point One Digital, which helped create the conversational user interface.

The solution was built through Amazon Alexa due to its high level of security and flexibility. The software has built-in authentication and security measures and uses OAuth and voice biometrics for security.

Central 1 president & CEO Mark Blucher said, “We’re committed to providing our clients with top of the line, cutting edge technology and services. As an organization at the forefront of fintech innovation in Canada we’re thrilled to showcase our authenticated voice banking solution that, as we continue provide the technology to more clients, will add ease and accessibility to the banking experience.”

Both institutions will launch the voice banking services to a pre-chosen testing audience, and will plan to launch the service to all members in Autumn.

Earlier in the week, Canadian online lending platform Progressa raised $84m in an equity and loan funding round.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.