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Well Fargo testing voice recognition technology

American bank Wells Fargo has started testing voice recognition technology that would revolutionize the way customers interact with their smartphones. There are other financial services organizations in the US that are experimenting with voice command in their mobile apps. U.S. Bank said it was testing the technology among its employees. Insurers Geico and USAA have also incorporated voice recognition in their applications. Wells Fargo has not fixed a time frame for launching its version. Bank of America is spending $3 billion a year on technology, including mobile banking. Executives there say voice recognition is under consideration. Voice recognition has become a hot topic in the tech world, especially after Apple introduced Siri, the voice-command feature that answers back. For banks, the investment in voice technology underscores the growing importance of mobile to their business. Customers conduct more and more transactions on smartphones, and banks are interested in expanding what can be done with their apps. Brian Pearce, Wells Fargo’s head of mobile technology, said he was not initially convinced that voice technology would be a big deal in banking. But once Wells Fargo was able to bring the voice commands beyond simply moving through the app and into more complicated tasks, he said he was sold.

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