Presented by Envestnet | Yodlee

Financial services companies are starting to invest in voice assistants, but how effective are these technologies really? Join this discussion to learn how digital assistants can drive engagement, more meaningful customer experience, build revenue, and more.

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Customers are embracing the conversational technologies that financial services industries are investing in. Above all, what these assistants are offering to consumers  is convenience – a simpler, more natural way of managing their finances, asking questions, and getting to the information they need.

This is big news for financial institutions and services companies, which for years have been trying to find a way to get their consumers to be more engaged and loyal, and since the 2008 disaster, have been trying to regain customer trust. Conversational technology looks like it’s one of the keys to offering the type of experiences that could make consumers start to believe that their financial services companies are taking care of them, and might even be a partner in their financial health.

“I don’t think anybody has quite figured it out yet,” says Katy Gibson, VP application products at Envestnet | Yodlee. “But it’s going to be an iterative work in progress to be a financial partner to the consumer.”

Digital assistants have been making inroads on some of the biggest consumer pain points – losing track of their financial transactions, looking for insight into their financial health, trying to manage their anxiety about their wealth and their ability to manage their finances. Consumers can already go to their bank’s web page and sort their transactions – what they’re interested in is insight; a voice interface in which questions can be naturally phrased offers an easy way in. From there, a consumer’s questions can be turned into a dialogue.

“What people really want to do is to create their own insights,” Gibson says. “Give them an interface that allows them to track the things that they want to track, and you’re removing the points of friction around creating these insights.”

We’re in the middle of a dynamic turning point in the economy, she points out, as the ways technology impacts the economy are ramping up. But the market isn’t just evolving at light speed – it has already changed irrevocably.

“I don’t know that the traditional financial management tools have necessarily kept up,” she says. “So we’re looking at first, how do we enable new channels like voice, but also, what else do you have to do to allow developers and institutions to build products that help people adapt to the changes in the market?”

Keeping up with technology like one-click shopping and streaming services 

Consumers are driving the major trends, consolidation and fragmentation, but they’re also struggling to keep up. Consolidation is buying everything from one place because it’s incredibly convenient – for instance, one-click shopping on Amazon that makes it easy to lose track of how much you’re spending and what you’re buying. And since it’s so frictionless, shoppers are struggling to find a way to set budget limits, and want to be notified of how their purchases are impacting their budgets – something that traditional budget tools don’t offer.

A good example of fragmentation is the proliferation of streaming services, which are easy to sign up for and sometimes become redundant. If you’re paying for an Apple subscription, why would you pay for a digital subscription to Conde Nast? What kinds of content are you duplicating, how many services do you have, how many do you need, and how much are you spending, on both the subscriptions you’ve signed up for and the in-app content you’re buying with a click.

And if frictionless experiences are the way businesses pull in new customers in and keep them, then frictionless experiences should be a way in for financial services institutions to protect their own users’ money. In a conversational interface, not only can a customer ask “How much am I paying for Hulu?”, they can be given that specific amount quickly but also be asked, “Would you like to know which other streaming services you are paying for and how much those are?”

The conversations your customers have with you help you tailor their experiences, understand their goals and look for ways to partner with them, Gibson says.

“And then from there, I [the financial institution] can find out more about you as you’ve invested more in the experience, and as your finances get more complex, become the place for you to come to,” she explains. “I answer your questions, and offer you the right products. That’s really the holy grail. It sounds sort of obvious, but it’s a really hard thing to do.”

Banks have started working their way out of silos to create a more holistic customer unit and experience, and do conversation right keeps them moving in that direction.

To learn more about how big banks are transforming their customer experiences and gaining market share, what customers look for in a digital assistant and what that means for your own investments, and how to start capitalizing on the increasingly sophisticated digital assistant solutions on the market, don’t miss this VB Live event.

Don’t miss out!

Register here for free.

Join our webinar to learn:

  • How conversational technologies are changing the financial services landscape
  • What to look for in a voice-enabled solution
  • Why context is key for the future of voice-enabled digital assistants
  • Ways voice and chat can power financial wellness
  • Tips for capitalizing on conversational interfaces and improve customer loyalty
  • How Envestnet | Yodlee data accuracy helps power AI-enabled voice and chat solutions


  • Juan Romera, Head of Business Development, Abe.AI
  • John Kelly, Client Partner, Financial Services, LivePerson
  • Geoff Hauge, Partner, Edgile
  • Evan Schuman, Moderator