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IVR Service Provider Introduces IVR Software on E*TRADE Mobile for iPhone

By Rajani Baburajan, TMCnet Contributor

Voice recognition software was restricted to certain industry segments like healthcare and legal services until recently. Thanks to the proliferation of smartphones, IVR services are now being integrated to mobile apps to deliver enhanced services to customers. IVR service providers are set to rake in from this growing opportunity.

In a significant development in this regard, recently E*TRADE Financial Corporation unveiled a new voice recognition software on E*TRADE Mobile for iPhone. The software is now available through Apple App Store.

The IVR feature is powered by Nuance (News - Alert) Communications’ Dragon voice recognition technology. E*TRADE plans to roll out the same capability on Android smartphones later this year.

The new solution enables users to access stock quotes, news and options chains. They can also navigate to their portfolios and launch stock order ticket using voice, instead of typing in everything into the system.

With the new IVR supported E*TRADE Mobile for iPhone (News - Alert), users need to simply tap the microphone icon at the top right corner of any screen and say a command. For example, they can find stocks by speaking out a stock name or symbol or pull up a stock order by asking to buy or sell a stock name or symbol.

"Investors are becoming more accustomed to interacting with voice-enabled technology, and we're proud to be one of the first to offer this innovative feature to our mobile users," said Michael Curcio, president, E*TRADE Securities, in a statement. "By integrating voice technology, E*TRADE provides a mobile experience unlike any other -- creating a state-of-the-art and convenient approach to navigation."

E*TRADE has also introduced a number of new capabilities on iPhone and Android (News - Alert).

E*TRADE Mobile for iPhone includes analyst reports, which gives access to stock specific analyst reports from some of the most widely trusted research providers, and CNBC video which allows users to filter video reports based on preferences and interests through CNBC Video on Demand.

 The company has also introduced a number of new capabilities on both iPhone and Android. They include barcode scanning, chart comparison enhancements and mutual fund trading.

Further, the mobile check deposit feature, which was launched earlier this year on iPhone, is now available for Android users. The service enables them to deposit checks directly with their smartphone camera. Additionally the company has introduced E*TRADE education videos for Android.

A recent TMCnet piece argues IVR industry's most innovative weapon is the natural language speech recognition technology. The problem that IVR users have experienced is that if they have an accent, the IVR will not pick up on what they're saying. As the world becomes more globalized, this will continue to be an issue, unless speech recognition technology continues to improve.

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