Clinc Teams With Visa To Bring Digital Banking Tech To FIs

digital banking

To provide its digital banking experience to more financial institutions, Clinc is teaming with Visa in a partnership that brings artificial intelligence (AI) technology to payments and banking customers. The voice capabilities of Clinc encompass bill payments, rewards, fund transfers, card activation and more, according to an announcement.

“Our goal has always remained the same — to create technology that makes people’s lives easier,” Clinc Co-Founder and Interim Co-CEO Lingjia Tang said in the announcement. “Partnering with a leader like Visa is a milestone for Clinc, and this API integration is going to offer small and mid-size banks a similar experience that some of the largest banks in the world are using. This kind of capability and cutting-edge AI wouldn’t otherwise be accessible without Visa.”

Banks, financial institutions and credit units harnessing Visa application programming interfaces (APIs) can turn on the voice-first digital banking technology of Clinc for their credit card customers starting today. The company reportedly provides a complete conversational AI solution with a 90 percent containment rate. According to the announcement, “The multi-language solution enables end users to converse with their bank account in a natural and conversational way with no special keywords, phrases to memorize or templated questions to learn.”

Digital banking users will be able to use voice with a bank’s mobile app to check balances, transactions and spending history; pay bills; and increase their credit limits or open a new credit card, among other functions. Clinc, for its part, is a provider of conversational artificial intelligence technologies for companies such as İşbank, OCBC Bank and others.

Beyond the financial sector, Clinc has brought its AI platform to automakers, healthcare companies and quick-service restaurants. Clinc’s AI is said to be accessible to more than 35 million users as of now. The company was started in 2015 by University of Michigan AI and systems research professors. Its AI “emulates human intelligence and is able to understand unstructured, unconstrained speech, and can interpret not only semantics and intent, but the underlying meaning of user queries” per the announcement.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.