Introduces new compliance, interactive voice response (IVR) and big data analytics technology to deliver tangible business value; Extends operations into LATAM market
Fonetic launched its Linguistics Voice Platform to integrate unstructured voice data into business processes for actionable knowledge. Bringing together speech analytics, sentiment analysis and unstructured data, the Fonetic Linguistics Voice Platform transforms customer interactions into tangible business value for any organization. From trading floors to contact centres, the Fonetic platform captures, indexes, analyses and extracts relevant data from all voice, email and chat interactions to detect opportunities for business improvement.
The new Fonetic Linguistics Voice Platform powers a multi-channel, multi-language solution that decodes caller behavior and makes recommendations on how to act, transforming voice interactions into meaningful, quantifiable and actionable knowledge about a brand, product or service. As part of the platform launch, Fonetic today also announced three new solutions for compliance, interactive voice response (IVR) and big data analytics.
Also announced today is the expansion of Fonetic into the Latin American market, with the appointment of Mónica Rodríguez as Global Business and Marketing Director for the LATAM region. Focusing initially on Colombia, Chile, Perú and Mexico, the entry into these markets builds on over five years of leadership in the Spanish-speaking market where Fonetic successfully works with leading brands such as Banco Bilbao Vizcaya Argentaria (BBVA), Santander Group, Vodafone, among others.
“The voice of the customer is the clearest indication a company can have into its customer experience or representation of the brand, but too often it goes unheard and not listened to,” said Juan Manuel Soto, CEO, Fonetic. “However, really listen and you can start to identify actionable insights that can help to start manage risk before it impacts your business. Building on over five years of experience working with some of the world’s biggest banks, telcos and insurance companies, Fonetic is leading the way in using Voice Management technology to decode customer behavior and develop business solutions based on optimizing customer interactions.”
Fonetic’s linguistic-based approach brings outstanding capabilities to voice management. Combining the highest level of speech recognition with natural language disambiguation across up to 79 languages and dialects, Fonetic brings a new level of understanding to voice management systems, structuring information obtained so it is immediately organized and available down to a level of granularity that is specific to the individual conversation or transaction.
The new solutions powered by the Fonetic Linguistics Voice Platform include:
- SPi Compliance
Financial institutions and their trading floors are heavily regulated environments where new compliance frameworks such as Dodd-Frank Act and MiFID II are being imposed to increase transparency in financial transactions. Fonetic SPi Compliance looks directly into the trading floor audio patterns, detecting languages, pronunciations and accents, to actually understand calls from the trading floor and detect potential compliance risks before they occur.
- Human IVR
The cost savings in serving large volumes of calls has too often been at odds with the desire to deliver a positive customer experience. Fonetic Human IVR uses a humanized language system to enable customers to freely speak about their reason for their call and avoid forced categorization through pre-programed automated options, significantly improving the accuracy in routing the call, increasing customer satisfaction while saving costs.
- BIZ Analytics
While millions of customer calls are made and recorded “for training purposes”, in reality the business intelligence in these customer interactions is rarely captured, listened to or understood. Fonetic BIZ Analytics can customize any speech analytics tool, quantify and structure what is an otherwise unmanageable amount of information contained in a customer’s voice and converts it into actionable information for business decisions. BIZ Analytics develops assets, sectorial grammars and artificial neural networks to learn and self-teach understanding of not just what is said, but what is actually meant by the customer.
Fonetic is a recognized leader in Voice Management solutions. Its award-winning Trading Record Keeping Compliance Solution was developed four years ago for Banco Bilbao Vizcaya Argentaria (BBVA) to proactively prevent market abuse and adhere to stringent legislation. This solution, also implemented globally in Santander, captures, indexes, analyses and extracts relevant unstructured data from all voice, email and chat interactions, enabling compliance officers to find specific, relevant communications about any given trade. By monitoring up to 79 different languages and dialects, Fonetic can reconstruct all interactions associated with a trade in moments.