University Credit Union Enhances Its IVA, Royce, To Introduce Industry-First Voice-Based Financial Transactions Through Progressive Web App

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University Credit Union (UCU), based in Los Angeles and serving over 41,000 members of the university community, had embarked on a mission to enable the most seamless banking experience for its members through its Intelligent Virtual Assistant(IVA) - Royce, powered by interface.ai.

Since its launch in August 2020, Royce has answered questions from more than 12k members with over 94% accuracy - saving more than 190 hours of wait times for members in the process. Royce has also enabled over $130k savings for UCU by enhancing the efficiency of support operations.

As a next step in enhancing member experiences, Royce will help members perform financial transactions. Members can complete end-to-end financial transactions like checking their account balance, transferring money, checking transaction history, among others, just by interacting with Royce. This has been made possible through successful integrations with UCU’s core banking provider.

Also, members can now speak with Royce to get their questions answered & perform financial transactions, making interactions with Royce more seamless & aid UCU to enhance member experiences from digital to AI-first.

For the first time in the industry,  UCU’s Royce is now available as a progressive web app that members can set up through one-click. Once set up, Royce will be available as an app on desktop and mobile, ensuring easy availability for members while providing UCU with an easy platform to keep their members engaged.

Key Updates To Royce

Progressive Web App

UCU has made it easy for members to install the Royce progressive web app, with an educative onboarding process. Members can read about the new capabilities of Royce and follow on-screen instructions to install the app.

Authentication

Transactions on Royce are powered by two-factor authentication to keep member data safe. It follows the two critical questions for authentication:

  • What you know
  • What you have

A One-Time password is sent to members during the authentication process to ensure an extra layer of security is added.

Transactions

Royce now offers the most used transactional experiences to members. Royce now supports experiences such as check balance, money transfer, view historical transactions, and account statements. Along with transactions, Royce now makes it easy for members to dispute transactions like check frauds.

Voice-enabled

With a voice-enabled Royce app, members can interact with voice input, and Royce speaks back to members leveraging industry-first neural voice technology.

On the enhancements to Royce, the CEO of interface.ai, Srinivas Njay said, ”Royce is industry-first in its ability to perform voice-based financial transactions on a progressive web app. This is the first step in the transition from digital to intelligent banking. We are excited to take UCU in this journey, enabling them to scale efficiently and enabling their members to achieve financial wellness.”

About University Credit Union:
University Credit Union, headquartered in Los Angeles, California, is a purpose-driven financial cooperative dedicated to giving the University Community a financial edge. UCU has over 41,000 members and assets over $800M.

About interface.ai:
interface.ai is an award-winning out-of-the-box Intelligent Virtual Assistant(IVA) that acts as a “personal banking teller” to help customers 24x7 through every step of the journey from being a prospect to achieving financial wellness.

Media Contact:

Laura Bryant (laura@interface.ai)

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