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Finance

Presentation Nuance for the Finance Sector
by

Jan van den Brink

on 26 April 2010

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Transcript of Finance

Nuance Everywhere Founded in 1992 and publicly traded on NASDAQ (NUAN)
Four Business Units:
Enterprise Solutions
Mobile Solutions
Healthcare Solutions
Productivity Solutions
Boston, Massachusetts, U.S.
Worldwide 6000 employees in 35 global offices
More than 800 employees in Europe, large offices in Austria, Belgium, Germany, Hungary and UK
More than 50% employees in EMEA are R&D, FY 2009 revenue: non-GAAP revenue just over 1 billion > 2000 filed and pending patents
Unmatched language reach in all domains employees in EMEA are R&D, FY 2009 revenue: non-GAAP revenue just over 1 billion > 2000 filed and pending patents
Unmatched language reach in all domains Company Background Revenue Highlights (Non-GAAP) Aquisition Milestones L&H
Dictation, TTS Embedded ASR and Audiomining
SpeechWorks
Network and embedded speech
Philips Speech Assets
DA, ASR, embedded
LocusDialog
Auto attendant
Lobby7
Wireless multimodal applications
2002-2003 Rhetorical
TTS tools and European customers
Telelogue
DA application and ASP platform
B&G
Assistive technologies for embedded

2004 Nuance
Network speech channels and core technologies
Phonetic
DA and enterprise solutions
MedRemote
Transcription workflow
ART
Speech for mobile devices

2005 2006 Dictaphone
Healthcare solutions
Mobile VoiceControl
Voice search and messaging

BeVocal
On-demand self-service
Tegic
Predictive text
VoiceSignal
Mobile device control &voice search
Focus
Medical transcription
Commissure
Radiology solutions
2007 Viecore
Professional Services
Vocada
Radiology solutions
eScription
Hosted dictation solutions
SnapIn
Selfservice Application
Philips Speech Recognition
Medical speech recognition solutions
2008 IBM
Technology Licenses for Mobile and Enterprise
Jott
Voice Mail Services
Harmann Becker
Speech recognition for Automotive
XSolutions
Document Imaging Solutions
eCopy
Document Imaging Solutions
SpinVox
Voice to Text Solutions

2009 MacSpeech
Speech Recognition for the Mac
L&C
Medical Solutions
2010 what Nuance can offer Enterprise Services Nuance
High level of expertise in IVR, speech, CTI and desktop development
Responsible for many of the biggest self-service installations worldwide
Customer oriented, personal approach; local employees, trusted advisor for more than 500 customers
Proven track record in speech related projects
All the resources within one organization
Consultants, System integrators, User Interface designers, Speech Scientists, Solution architects, application developers, graphical user interface designers
Local companies
Continuity risk, resources limited
Not capable in long-term support and maintenance
Speech not core-business
Big companies
Not actively involved, less attention
Much overhead, cost-inefficient
Speech not core-business, little specializations
Global Presence Local Understanding Nuance Professional Services Offices
650+ employees in 15 offices worldwide Partnership 550 partnerships with major IVR providers, ASPs and SIs, Global deployments with multiple partners
brings the world of information to places it’s never been before. Mobile solutions in over 4 billion phones, cars and navigation systems 3000 healthcare institutions and 300 000 doctors Over 21 million registered desktop application users and 100.000 MFP solutions More than 9 billion
customer care interactions Unlocking the potential of systems, services and devices
Car, Phone, Book Reader, Navi Implements Solutions - Four Key Markets > 2/3rds F500
>9 billion calls/year
>3000 customer care installations
>4 billion mobile devices
8 largest handset and top 10 largest auto makers
>21 million registered users of Nuance productivity applications
>3000 hospitals and 300 000 physicians use Nuance dictation solutions Everywhere >1000 speech scientists and engineers, a team larger than any other vendor; more than 330 based in EMEA
Nuance professional services organization counts >1200
IP portfolio
World’s largest speech data library
50 languages and dialects in speech, 25 dedicated for healthcare
90 languages and dialects in predictive text
>130 languages and dialects in Nuance Imaging
Market expert Fiscal 2010 revenue estimate: $1,2 billion
Fiscal 2009 revenues $1,01 billion
40% compound annual revenue growth since 2001
Strong cash flows and balance sheet with $525 million in cash and securities (1)
Meet/exceed earnings projections
Foundation > 650 employees in EMEA; number nearly doubled since last year
> 15 Offices in EMEA, the biggest are in Austria, Belgium, Germany, Hungary and United Kingdom
Leading market share in for all major product lines in EMEA:
Dragon NaturallySpeaking in Top 5 Software sales in UK, France and Germany
Nuance Speech Recognition leading in EMEA Healthcare
Nuance Imaging installed on more 100 000 MFPs worldwide
Nuance speech recognition and TTS high market share in EMEA
Nearly all EMEA car manufacturers and GPS use Nuance
Major EMEA wins across all BU’s in FY 09, such as: Deutsche Bahn, Air France, Vodafone, NHS, …
Major growth drivers for EMEA:
ERP adoption
Voice to Text market
Self Service
Nuance in EMEA AAPT Telecommunications
Adeptra
ADP
Aepona
AIG
Air IQ
Alcatel eBusiness
Alex Bank
Alitia
American Digital Systems
Ananova
Apple Computer
ASB Bank
Ascriptus
AT&T
AUS Tax office (TTS)
AutoScribe
AXA
Banco Bolivariano
Banco Pichincha Bank of America
Bayer Animal Health
BCBS NC
BCBS TN
BeCogent
Belgacom
Bell South
Bill Matrix
BLI
BMW Group
BundesWehr
BuyOwner
CA Electricdad
Cables Edge Software
CallGenie
CallSource
Cardinal Health
CareTouch
CartaSI
Cerylion Chicago Mercantile
Citigroup
City of Barrie
Clarke American
CO Dept Labor & Employment
Coast Mountain Bus Company
CompTel
Convergent Voice
CPP Group
Dairy Farmers of Ontario
Data Connection
Data Mountain Solutions
Denver Water
DeTeImmobilien
Dexia
DHL
Dimension Data
Eastman Chemical
EchoPass
Efunds
Eircom
Enel Gas
Ericpol Telecom
Estel Telecom India
First Cube
First Data Voice Services
France Telecom
Fraunhofer Gesellschaft
Front Logic
Gentiva Health Services
Getmedia
Glaxo Smith Kline
Global Speech Networks
Goldline
Groupe Caisse d’Epargne
Hartford Insurance
Hawaiian Telecom
HCSG
Health Care Partners
HealthNow
Hershey
HFN Medien
Highmark
HMCO
Huntington Bank
ICR
IfByPhone
IKEA - QWCC
Incursion
Inflection
Inland Department of Rev.
Inphonic
Insurance Co. of BC
Integ
JB Hunt
JP Financial
Kaiser - QWCC
Kaiser Permanente
Liberty Medical
Louisiana Public Health
Lucent
Lufthansa
Luxottica
McMillan
Medco
Mediant
MediaSet
Message Technologies
Milwaukee Journal
Ministry of Social Dev.
Mobilkom
MoneyGram
Montgomery County
Montefiore Medical Center
Mutual of Omaha
Neoris
Network Omni
New Brunswick News
New Roads
Nextira
Nike
Oklahoma Gas and Electric
Orange
Orange Dominico
Oration
Outcome Sciences
Oxmoor House
Peoples Energy (TTS)
Pepsico/Frito Lay
Pershing
Porsche
Power Company of NM
RightNow Technologies
RiteAid
Roadway Freight
Rogers
Sabretek
Sasktel
SBC
Scana
Schlumberger Sema
ScotiaBank
Seewind
Simplex Grinnell [Tyco]
SITA
State CA Franchise Tax Board
State of MI
State of NC
Statsfone
Stream Energy
Streamdoor
Suncoast
Tampa Electric Co.
TartusInfo
TeleCheck (FDVS)
Telecom New Zealand
Telekomunikacja Polska
Teleperformance Interactive
Telerx
Telstra Clear Terra Telecom
Ticketmaster
T-Mobile - Czech Republic
Town of Gilbert
Toyota Australia
Toyota Financial US
Travelers Life
T-Systems
Tuition Management Sys
Union Pacific
United Airlines
University of California
UnoBanco
US Unwired
UsXpress
Vanguard
Venable
Verizon
Vesta
Viavis
Virgin Mobile Telecom
Vitens
Voice & Data Systems
VoiceConX
Voicelog
Voodovox
VW Bank
Westchester County
Western Union (FDVS)
Wirenix
Wyeth-Ayerst
XM Radio – QWCC
Yahoo
Zomax
Zurich Insurance
Genesys - Nuance joint customers Companies that focus on the customer experience successful profitable are amongst the most and organizations in the world. Focus on Improving the Customer Experience
First call resolution
Allow easy access to commonly requested data
NLU Call Router Becoming More Pervasive
Flattens menus
Directs calls quickly and efficiently
Improves the caller experience
Authentication and Identification is Critical
The basics – allows callers to self-serve
Sets the callers’ expectations
Increases security and discourages fraud
Allows for ‘personalization’ and segmentation
Agent Productivity
Intuitive desktop solutions that reduce training time
Access to caller-relevant data to improve efficiency and customer satisfaction
Industry Trends Speech far outranked touchtone across all categories Consumers Find Speech Clear, Easy and Fast “We’ve seen a huge increase in the number of people self-serving in the new system... the call routing solution puts customers in control of their interaction and simplifies their transaction...our improved containment rate is proof of it’s success!” Vice President
Call Center Technologies Finance Roadmap Nuance’s Average Customer Satisfaction Survey Scores
Financial Services: 96.2% Customer Frontdoor using Mobile Care with Call Intercept Mobile Banking Caller Identification and Verification Voice Biometrics Nuance Notification Hub Retail Banking - Movie Outbound Notifications Multi Channel Natural Language Chat Banking - Demo IVR Self-Service Applications Check Account Balance
Apply for Loan
Transfer Funds
Authentication/Verification
Change PIN
Change of Address
ATM or Branch Locator
Rate Information
Bill Pay
Activate Account
Report Lost or Stolen Card
Request Limit Increase Voice Authentication: A biometric that authenticates a person’s identity using characteristics of the human voice One Time Enrollment: User provides speech samples over the phone to create a voiceprint
Voiceprint models features of the speaker’s voice.
Not a recording. Ongoing Verification: Caller speaks information such as name or ID number
Verifier compares live speech sample to the stored voiceprint
Voice Biometrics: Nuance Verifier 1. Increase Convenience: 
Simplify Account access on the phone channel-Eliminate use of PINs or other hard to remember information
2.   Reduce Agent Handle Time:  
Reduce Agent-based Authentication, lessening exposure to social engineering and human error
3.  Increase Security: 
Use Voice recognition and biometrics to enhance security profile of customer accounts
4. Opportunity for additional automation: 
Automate tasks that an agent had to do before because Business Rules required authentication and agent based authentication was previously the only option
Speech Synthesis: Nuance Vocalizer Short term:
Deployment of the TTS engine offline to ensure continuity of the voice.
No major change, familiar environment
Custom voice
Mid long term:
Use the telephony channel for rapid and dynamic campaigns
Use dynamic TTS for information services (SEPA)
easy pronunciation of international bank account numbers (IBAN) and Bank Identification code (BIC)
A bank needs to provide detailed information to their customers about payment dates for receival, acceptance, execution and rejections.
Support disabled people, the ageing population, cognitively impaired (dyslexia) and physically impaired with spoken audio.
Make mobile applications more accessible through speech
using Natural language
call routing technology solution Accurate, natural, and cost effective routing
from a single point of access More efficient interaction
20-40% reductions in misroutes
Average successful routing rate of 85%
Nuance Recognizer 9.0 support for enhanced natural language understanding

More pleasing interaction
Consistent brand across multiple service destinations
First touch to set the tone of the call
Natural language avoids long menus and DTMF More efficient deployment and maintenance
Specifications and code are automatically generated
Develop in: English, Spanish, German, Swedish, French, Dutch, Portuguese, Italian, Afrikaans, and Indonesian
Best practices, logging & tools compatibility
Enhanced caller experience
Improved automation rates
Better presentation of brand
Lower cost
Quicker deployment
Easier maintenance Accurate, natural, and cost effective routing
from a single point of access Environment:
Authentication handled by agents
High Value Callers had to re-authenticate when transferring
High call duration and dissatisfaction
Solution
Voiceprint Authentication Technology
2-step speaker verification
Language identification – French or Flemish

Results:
More secure network; less cross-channel fraud
Only deployed as a new service for their VIP customers
Increase in authentication rates
Decreased average handle time Environment:
600 banking offices
Disparate IVR systems through mergers
IVRs approaching end-of-life
Low containment rates
Low first-call resolution
Solution:
Open standards VXML solution
1,060 ports of GVP
Re-wrote applications and created new ones with touchtone functionality including lending, collections, mortgage, check reorder, check image statement
Results:
More secure network; less cross-channel fraud
Containment rate increased over 3%
Increase in authentication rates
Decreased average handle time by 2 seconds
Environment:
Multiple product centric IVRs (with regional variation within most product categories due to acquisitions)
Average daily call volume of one million calls per day
Products and services include checking, cards, loans, lines of credit, mortgage
Solution:
15,000 ports Nortel platform
Genesys CTI and sophisticated routing
Consolidated toll free numbers and IVR applications into a single 800 number for all lines of business
Speech and touchtone
Continuous Improvement Services
Results:
Currently takes 2.5 million calls a day
Initial deployment resulted in 3.5% fewer agent calls, reducing year-over-year at an average of 2% per year
Tuning increased effectiveness to 78.5% from 64.7%
Saving over $15 million annually
Environment:
30 million calls / year
6 million calls are handled by agents
High customer satisfaction, except for the IVR menus Environment:
20,000 calls / day
Long IVR menus,frustrated customers
Many hang-ups, and misrouted calls
Solution:
Open Question (“how may I help you”) call routing application based on statistical models
Intelligent call routing to approximately 40 destinations
Results:
At least 15 seconds decrease in call duration
Enhanced customer experience, no need for long touch-tone menus
Quick response increased speed of answer

Results:
Dialogue Success Rate more than 90%
Automation of over 80%
Reduction in transferred calls
Decrease in executive IVR complaints
Quick response increased speed of answer
Solution:
Open Question (“how may I help you”) call routing application based on statistical models
Callers rapidly obtain the required information and are not bound to a menu, which gives them freedom to express their problem in their own words
Enterprise Solutions
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