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US Bank eyes growth with multilingual AI offerings

FinovateFall 2022

Henrik NilssonbyHenrik Nilsson
September 16, 2022
in Payments
Reading Time: 2 mins read
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NEW YORK CITY — U.S. Bank is exploring additional language options for its voice-enabled Smart Assistant over the next three to five years.

“Something we’re just getting into is multilingual,” Sierra Fontana, user experience designer of the Smart Assistant at U.S. Bank, said during the panel discussion “AI in Action: How Smart Players are Harnessing Data Analytics & AI to Solve Real Pain Points for Their Customers” this week at FinovateFall 2022 in New York City.

The Minneapolis-based bank’s Smart Assistant, which added a Spanish-language version in April, leverages AI and language processing technology to allow clients to search for checking and routing numbers, check balances and transactions history, transfer money, make payments and check their credit score by speaking to it, according to U.S. Bank’s website.

There is an opportunity to improve how the AI-based technology understands different languages, Fontana said. For example, the bank has collected data from the voice assistant and learned that “Spanish users are interacting very differently than our English-speaking users,” she said, noting that it can leverage that data in order to better understand and respond to users.

Looking ahead, the bank will work on improving its Spanish-language offerings while continuing its journey with AI-based technology. “There’s a lot of opportunity to keep going on that path,” Fontana said.

Bank Automation Summit Fall 2022, taking place Sept. 19-20 in Seattle, is a crucial event on automation and automation technology in banking. Learn more and register for Bank Automation Summit Fall 2022.

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