IVR (Interactive Voice Response), one of the most effective technologies that can help a bank to automate its interactions with its existing or potential customers.

1. IVR Banking
Solution: How IVR is
Leveraging the
Banking Sector

2. What is IVR Solution
• IVR (Interactive Voice Response), one of the most effective
technologies that can help a bank to automate its interactions
with its existing or potential customers. Simple, yet a powerful
and efficient solution that can help banks to seamlessly
communicate and manage the high volume of calls everyday that
are for common sales enquiries, customer service, collections,
support etc to list a few. IVR can smartly & easily automate the
process, save time, reduce cost and save the customer agents
from high volumes of calls.

3. IVR Solution and Technology in Banking
• With the rapid development of technology and solutions
especially within the banking sector it is important to also
have the right security solutions, as data protection has become
the need of the hour. Banking has been the most crucial industry
that relies heavily on encryption and safeguarding information,
thus with the excellent advent of technology it has become
imperative for businesses to incorporate the best practices to
make the business successful.

4. IVR Banking Solution Use Cases
• Report lost/ stolen/ damaged/ reissue/ block card
• Send immediate fraud notifications
• Product information
• Loan application and loan status
• Easy login for service request
• Account related information & updates
• Activation/ Deactivation of cards
• Surveys

5. IVR in Rural Banking: Use Case
• One of the leading banks has launched IVR for agriculturists and
farmers with the aim to meet their financial needs right at their
doorsteps. The main motive of this launch is that farmers will be
able to reach the banks over the phone to enquire and avail of
their digital banking products. They just need to dial the
dedicated toll-free number and enter their unique PIN code
number. The smart IVR then automatically maps the nearest branch
to the farmer’s location to get the bank representative to reach
out to them to address their needs. Rural banking initiatives are
being taken by banks to ensure they can service them with
multilingual IVR solutions to speak with the customers in the
preferred language of their choice.