Capital One and Amazon have launched a new voice activated banking application that can be used with Amazon’s Echo device and the Alexa personal assistant program. Now, Capital One customers can use their voice to get information and conduct transactions with their checking accounts, credit cards and other financial products. Capital One customers can try out the new application by downloading the Alexa app on their phone, enabling the program and signing in with their online banking credentials.
voice Activated Banking Features
There are a number of features built into the voice activated banking application that Capital One customers may be interested in. Using the program, customers can hear a list of the most recent transactions in their Capital One checking account, find the balance of their saving account, ask when their next credit card payment is due, and pay their credit card bill using a pre-linked payment method. More features are expected to be added in the future.
Amazon and Capital One said they have made the security of the application a very high priority. Access to the account is protected in several different ways. First of all, when you enable the Capital One program, Capital One asks you to sign into your Capital One accounts using their encrypted authentication process. The bank says it won’t share your banking login with Amazon.
You can also create a 4-digit “Personal key” that has to be verified out loud in order to hear transaction information or perform a transaction. Before you can access your account information, you’ll be prompted to recite your personal key by Alexa. Capital One will also perform local security checks to protect account access.
The Capital One voice activated banking application will work on the Amazon Echo, FireTV, or the new Amazon Tap and Echo Dot. The first orders for the portable, battery-powered Amazon Tap smart speaker are expected to ship out by the end of March. The same goes for the Amazon Echo Dot, a puck-like mini-Echo.
Capital One is the first company to provide banking information through Amazon Echo. This may lead to Capital One becoming a go-to payment method on Alexa-equipped devices. Becoming the “lead card” for Alexa-based transactions could be very lucrative to Capital One once the devices become a platform for buying a variety of goods and services.
Amazon’s Echo has emerged as a hot-selling hit gadget and is being called the standard-bearer for an entirely new computing paradigm. Amazon’s team worked on the project for years under the watchful eye of Amazon CEO Jeff Bezos, who held the team to extremely high standards. During the device’s development, the team did thousands of internal tests and weekly data analysis with speech scientists. The result was a device that is widely considered to be the next big technology platform.