Pasadena-Based Wescom Partners with Voice Banking Tech Leader

Published : Tuesday, February 12, 2019 | 5:49 AM

Pasadena-based Wescom Resources Group has forged a technology sharing partnership with ENACOMM.

In a statement, ENACOMM said the partnership should empower more credit unions to compete with the biggest banks on the consumer-facing technology front.

The partnership would ostensibly integrate ENACOMM’s voice banking technology with WestCom’s Symmetry eBanking solution.

Wescom Resources Group (WRG) is a wholly owned subsidiary of Wescom Credit Union that operates as a Credit Union Service Organization.

ENACOMM is a financial technology company that works with banks, credit unions and credit card companies to devise data-driven solutions for improving the customer experience, fighting financial fraud, and increasing operational efficiency.

The company has a virtual personal Assistant that is a conversational voice banking capability for financial institutions’ self-service users that utilizes artificial intelligence and works with popular digital voice assistants, such as Amazon Alexa and Google Home.

Using ENACOMM’s hosted systems, a properly authenticated user can confidently conduct secure banking transactions and gain virtually full access to their financial accounts with the sound of their voice.

Conversational banking significantly reduces operational expenditures by fusing banking intelligence and workflow automation.

“Today’s consumers are increasingly embracing modern technology and their expectations are evolving to include the convenience that comes with these advancements,” said Kevin Sarber, WRG President. “Integrating ENACOMM’s premier conversational voice banking technology with Symmetry eBanking will help our clients stay ahead of the curve and delight their members.”

Recent research by Adobe Analytics shows about 38 percent of consumers owned a smart speaker in August 2018, compared with 28 percent in January 2018, or a 14-percent increase in just a few months.

Voice assistant use is climbing 76 percent, smart speaker owners citing an increase in use over the past year. Seventy-one percent of consumers who own smart speakers reported using them at least daily.

“Conversational engagement is a trend that’s here to stay, and banking will soon play an even greater role, as consumers turn to their go-to devices to manage their finances and complete tasks that require their financial account information—from ordering to buying, paying, and reserving.” said ENACOMM chief executive officer, Michael Boukadakis.

To learn more about WRG and its digital banking and IT service solutions for credit unions, visit www.wescomresources.com.

 

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