09/01/2012

By Scott Thompson

The majority of Brits will use voice commands to check their bank balance and perform other basic banking tasks on their mobile phone by 2014. That’s according to research carried out by digital banking provider, Intelligent Environments.

The next two years will see an explosion of voice recognition apps and rapid uptake of voice command services for everyday tasks such as banking. 42.8 per cent of all mobile phone sales in October 2011 were the new iPhone 4S, taking voice intelligence mainstream through the launch of Siri. 2011 saw increased adoption of mobile banking services with UK usage rising from 9.7 per cent in 2010 to 20.4 per cent last year. By the end of the year, 29 per cent of smartphone users will use their mobile phones for banking. At this rate of growth, penetration in the UK has now reached two in five Brits and 70 per cent of all phones sold in the UK over the past three months were smartphones – it is predicted that more than 80 per cent of Brits will be using mobile banking by the start of 2014.

“Siri has prompted a step change in the way people interact with their phones, allowing users to check their calendar appointments, send text messages and get information about the weather through voice activation. As uptake of voice synthesis smartphones increases and consumers’ lives converge onto this device, it is inevitable that everyday banking services will become voice activated,” says James Richards, director of mobile at Intelligent Environments. “Synchronising voice control services such as Siri to mobile banking apps will take time-saving and simplicity to another level. Performing straight-forward banking tasks such as balance checking or asking when your most recent deposits will clear using technology like Siri will be commonplace by 2014.”