How an IVR Solution for Bank Can Save the Day in Banking


An IVR Solution helps to manage the smaller queries of customers and keeping the agents free to deal with complex inquiries.

Interactive Voice Response (IVR) is a cloud based technology that automates communications with telephone callers. An efficient Hosted IVR system minimize the cost of common sales, collections, services, inquiry and support calls to and from the organization. The whole banking sector sees it as a highly helpful service. As banks receives countless calls consistently in a day, answering all of them with the exact information is time consuming and highly exhaustible.

An IVR System, generally, utilizes pre-recorded voice prompts and menus to display information and choices to callers, and touch-tone phone keypad entry to collect responses. Present day IVR solutions enables input and responses to be gathered through spoken words with voice acknowledgment. Expanded competition from techno-smart private foreign banks has driven banks in India, South Africa and other developing nations to invest in cloud telephony to improve their delivery channels. Many have implemented IVRS technology in all areas like Small and medium banks, Cooperative banks, Financial Sector, Nationalized banks and so on.

Over 70% of the calls banks gets each month get fulfilled over IVR solution. While the complicated issues call to be diverted to operator, the simple issues can easily manage by utilizing IVR technology. The following can be accomplished through an IVR software solution:

  • For Account Information
  • Investment portfolio updates and status
  • Load status and application
  • Complains and emergency
  • Request and Customer care
  • Product information

Banks utilize the security measure of setting a telephone information number (T-PIN or TIN) to keep the privacy of customer and barring their information and details to be accessed by anyone. IVR consequently, turns into a state of the art system to offer customers a higher level of confidential banking by phone and enables them to carry bank transactions on their own.

Automated telephone banking system significantly saves customers time to a great extent. In addition to the benefits that client enjoy, a robust IVR solution also enables banks to save significantly as technology eliminates the use of expensive proprietary hardware, lowering the network infrastructure and hardware costs up to 70%. The best part of this enables agents to invest quality time on making effective business interactions and generate leads and clients for the bank.

So, is your bank using the latest and most reliable IVR software solution for customer care services. To know more about IVR solutions for Banks, Send an enquiry at or Call Us on +918595080808



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