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News detail:
2019
24
April

Spitch presented in the annual study of the IFZ FinTech Study 2019

24 April 2019

Spitch presented in the annual study of the IFZ FinTech Study 2019

smm_default___.jpgIFZ FinTech Study 2019 analyses both global FinTech companies and the Swiss FinTech sector. The fourth edition of the IFZ-FinTech study aims to show the developments in the FinTech in 2018 and to re-evaluate the trends observed in previous studies.

FinTech companies are increasingly becoming an integral part of the financial services industry. By the end of 2018, there were 356 Swiss FinTech companies, representing an increase of 62% from 220 companies one year earlier. The study shows that 122 companies are active in the field of Distributed Ledger Technology, 66 – in Investment Management, 56 – in Banking Infrastructure, 42 – in Deposit & Lending, 36 – in Payment, and 34 – in Analytics.

Spitch is presented in the Analytics category. The study notes: “Spitch uses AI-powered Natural Language Processing (NLP) and Natural Language Understanding (NLU) to provide Automatic Speech Recognition (ASR) and speech analytics as well as voice biometrics solutions in the enterprise segment. Spitch is the first company to produce an accurate speech-to-text engine for Swiss German dialects and a number of pioneering solutions to help improve customer experience and save costs”.

Alexey Popov, CEO and founder of Spitch commented on the report: “The IFZ FinTech Study 2019 revealed a significant increase in the number of Swiss-based Fintech companies last year. We are proud that Spitch has made a significant contribution. We have unique solutions for Swiss companies. No one can work better than we can with Swiss dialects in the field of speech analytics and artificial intelligence. Our successful implementations case studies in a number of leading Swiss companies are vivid evidence of this. We also aim to replicate this remarkable success in the markets of Germany, Great Britain, Italy and other countries of the European Union.”

Indeed, Spitch webinar polls show that there is a high demand for voice technologies:

  • 73% of the attendees would select an automated voice-response system instead of waiting for response from an agent, even if there is only a very short waiting time;
  • 76% – are evaluating or planning to offer a voice service soon;
  • 57% – see a very high potential “in voice biometry”.

The study authors emphasize: “The increasing maturity of FinTech companies in combination with their promising internationally oriented business models could make FinTech solutions the key for the Swiss financial industry to survive the digital evolution.”

The study includes more than 180 pages of useful analytical information about global and Swiss FINTECH sectors. If you are interested in obtaining more detailed information, please follow the link to read this Overview or download it in PDF.

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