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Garanti Bank - Mia

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Company: Garanti Bank, Istanbul. Turkey
Company Description: Established in 1946, Garanti Bank is Turkey’s second largest private bank with consolidated assets exceeding US$ 106 billion as of September 30, 2013.
Nomination Category: Products & Product Management Categories
Nomination Sub Category: Best New Product or Service of the Year - Financial Services

Nomination Title: Mia

Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date.

Mobile Interactive Assistant (MIA) is a virtual voice assistant that provides performing banking transactions by voice. MIA is developed on Garanti Bank’s mobile platform, “Garanti Cep”. In Garanti Cep, users can reach MIA by swiping the screen down from any screen of the application. A parallel overview screen will appear to help users to say their transaction and get answers instantly. To use MIA, all you have to do is to swipe down the screen on the main page or any sub-page after logging in to Mobile Banking platform, Garanti Cep. MIA which will open on the overview screen in a parallel way will great you by saying “Hello, how can I help you?”. With the different modes of the microphone avatar on the screen, you can follow what the application expects from you. While in talking mode, the mouth will be moving, and while in listening mode it will be blinking, and so on.

Mobile Interactive Assistant project is a one of a kind application in terms of financial institutions in the world. Through the application which was developed with an extensive grammar and comprehension capacity, all banking transactions can be performed by voice, through 155 different intents and 65 different concepts. This application, for which “iOS Siri” would be the closest example we give, is anticipated to be used as a benchmark across the world. With this approach, a completely new perspective has been brought in to Mobile Banking application.

Garanti Bank is one of the pioneering banks in Turkey that continuously follows digital world trends and new technologies, offering continuously updated and improved digital platforms with 4.2 million digital customers.

Voice technologies are increasingly gaining importance across the world, and becoming an indispensable part of digital technologies. Additionally, hands-free usage is also one of the trends that is becoming widespread in especially mobile applications.

Garanti Bank has been using voice technologies for a long time. In this context, the primary area of implementation Garanti Bank call center, Alo Garanti Call Steering project developed for Alo Garanti, and Alo Garanti self-service steps (ASR) are the pioneering projects in voice technologies. In addition to these projects, the success of the use of voice activated transactions and interaction with voice technologies among users on Alo Garanti have lead us to utilize voice technologies in other channels as well.

MIA is the first application that is compatible with Turkish language structure and through which banking transactions can be performed by natural speech. In this context, it has become an application developed in the same direction with the technology and trends. Garanti Bank has been investing in digital for 19 years and is the leader in digital banking. In this regard, MIA is a successful project in terms of customer satisfaction and contribution to digitalization.

With the experience Garanti Bank acquired in the area of voice technologies, Call Steering and Alo Garanti Self-Service Transactions have become a quick and easy transaction method for the users as well, and was established as a system. This success has also the triggered the initiation of MIA.

Furthermore, MIA can be considered as one of the first steps taken in the popularization of the use of voice technologies. Among our goals are developments such as extending voice activated transactions to all digital channels, and enabling transactions that normally involve several steps to be performed in a single step and by voice.

Monthly, 150k customers are making 500k interactions. Usage frequency data on a customer basis also has good level. Additionally, we are observing in the regularly generated reports tha the customers are performing their transactions successfully. Positive comments on Apple Store,

Google Play and social media also show that customer satisfaction is achieved and expectations are met. Customers are indicating that they find MIA to be more successful by comparing it to Siri.

In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service.

1. This application was developed on “Natural Language Understanding” infrastructure to understand users in their own language and sentences.
2. MIA can find the relevant transaction, and directly answer the user's question, or if it is not the kind of information it can provide, it directs the user to the relevant page on Mobile Banking.
3. As we have stated in the previous section, MIA is the first Turkish language banking voice activated transaction assistant.
4. Users can realize that MIA is learning their needs in very short periods. This feature, increase customer experience regularly
5. MIA provides users the opportunity to perform transactions on Mobile Banking in a much faster and easier way.
6. Within the scope of “Handicapped Friendly Banking” mentality, improving the experience of our visually impaired users on digital channels is one of our biggest objectives.