SBI Mutual Fund Deploys Nuance Powered Technology to Enhance Customer Experience

First of its kind speech-based IVR deployment in the Indian Mutual Fund industry

India, July 21, 2009 – Nuance Communications, Inc, (NASDAQ: NUAN) today announced that SBI Funds Management Pvt. Ltd. (a joint venture between State Bank of India and Société Générale Asset Management) has deployed a new IVR solution based on Nuance Recognizer to deliver speech-based self-service interactions for its customers. The IVR, deployed by SBI Funds Management, is a next generation system that will enable its customers to use their voice, instead of traditional touch-tone environment, for interactions with the IVR for self-service.

The IVR speech recognition solution will use Nuance Recognizer to provide information to customers on latest Net Asset Values (NAV) of SBI Mutual Fund Schemes, and at a later date, more features will be added to the IVR to enhance customer experience. In other words, the next generation IVR will be able to provide all the services that are currently being done by agents manually. The customers need not have to wait for the agents to be available and the process is now automated and is geared for quick responses using Nuance Speech Recognition technology.

Nuance Recognizer combines the natural conversational capabilities of OpenSpeech® Recognizer and SpeakFreely™ with the administrative resources of Nuance 8.5 to deliver a best-of-breed speech recognizer that drives business performance by dramatically enhancing the efficiency of speech-based self-service interactions. It will provide unprecedented accuracy, reliability, and ease of use for SBI Mutual Fund customers.

Sunny Rao, Managing Director, India and South East Aisa, Nuance Communications said, “The new IVR system will enable SBI Mutual Fund to achieve differentiation, enhance business efficiency and win customer loyalty by delivering an exceptional customer experience. Customers calling into the system will have more efficient self-service interactions due to higher accuracy and more natural conversations. The business performance of SBI Mutual Funds will improve due to increased automation rates and improved customer satisfaction.”

Source : Equity Bulls

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