Phone banking is a service provided by a financial institution, allowing its customers to perform transactions over the telephone using an interactive voice response (IVR) application. Most telephone banking systems use an automated phone answering system with phone keypad response or voice recognition capability. With the obvious exception of cash withdrawals and deposits, IVR solutions offer virtually all the features of an automated teller machine.

Typical Phone Banking Services

  • ‍Balance enquiry
  • Last transactions
  • Request for statements
  • Funds transfer
  • Bill payment
  • Interest rate quotes
  • Foreign exchange rate quotes
  • Branch location and opening hours
  • New product announcements and product information
  • Feedback and suggestions

Benefits of Implementing Phone Banking

  • ‍Provide 24/7 multilingual customer service
  • Reduce overhead costs with self-service facilities
  • Increase productivity and profitability
  • Promote customer growth and boost customer retention
  • Improve competitiveness

Pronexus VBVoice™ makes it easy to develop an effective phone banking system that integrates into your call flow. VBVoice is a simple and cost-effective way to provide your customers with 24/7 access to banking and account information, which can promote customer growth and significantly improve your competitiveness.