Interactive Voice Response (IV) is an automated phone system technology that allows incoming
callers to access information via responding through dialing keypad numbers.
The IVR system is widely used in the banking sector to provide a self service, IVR Banking
system. Banks can automate repetitive tasks such as Balance inquiry, Top Up and more with IVR
WIth Ringaze, banks can set a Missed call solution for IVR Banking, where customers can give
missed calls to your phone number, and receive a call back saving customers’ money.
How it works?
For instance, banks can set up 3 phone numbers for 3 tasks. When the customer wants to know
about their current balance, they call a specific phone number, the call gets cut, and the
customer receives a call back with their current balance.
This feature hangs up an inbound call that lands in Blazon and sends the call details to any
linked external system.
- It can be a very important service for the banks. Because it lowers sales costs,
eliminates unneeded staff, and shortens the time it takes to respond to inquiries.
- It also cuts down on consumer calls that aren’t necessary.
- Customers’ smaller enquiries are handled by the IVR system, freeing up live agents to
answer the bigger queries.
- The IVR system also helps and saves the time of customers with automated processes. As a
result, clients will not need to visit the branch as frequently to get answers to their
- It is a totally automated, user-friendly, and nearly cost-free service for customers.
- The IVR system is available 24 hours a day, seven days a week. As a result, consumers can
contact their bank even after business hours.
- The IVR system can be used in a variety of languages