BOSTON — The Fiserv Securities Group of Fiserv, Inc. and SpeechWorks International, Inc., a leading provider of conversational speech recognition technology and products for e-business solutions, announced that the companies have developed and deployed transactional self-service hotlines at leading brokerage companies. The speech-activated investment lines complement Internet trading by allowing customers to place trade orders and check stock quotes around the clock, simply by speaking over a phone. The companies said one national brokerage has a speech-activated hotline created and deployed by the Fiserv Securities Group using SpeechWorks’ tools and core technology. The service has already processed 1.2 million calls using speech recognition since it was launched in 1998. The Fiserv Securities Group and SpeechWorks are now deploying a similar trading service for another large, North-American brokerage.
A spokesman for the companies said SpeechWorks and the Fiserv Securities developed speech-activated services that let customers place orders, confirm trades and check stock quotes just as they do online, but from the convenience of any telephone. The automated lines are available to callers at all times, making it a highly cost-effective way to serve their needs.
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The advanced speech recognition hotlines take callers through a short conversation such as: “Please say the name of the stock you wish to trade.” A caller can respond with any stock or symbol. The service then asks the caller for a bid amount, confirms the request and processes the order. Account numbers and spoken passwords ensure caller security. Those familiar with the service can use special features to navigate the system and trade even faster.
