Speechmatics Launches Financial Services Language Pack

Speechmatics, a speech recognition technology provider, has launched an English language pack specific to the finance industry for use-cases including compliance, fraud identification, analytics, financial news, and earnings calls.

With this addition, Speechmatics' speech-to-text engine can now identify finance terminology in conversation, including abbreviations, acronyms, and finance-specific terms.

"Our aim is to understand every voice regardless of race, gender or accent and I'm proud that Speechmatics has overcome significant challenges that traditional speech-to-text engines have struggled with. However, we wanted to go even further and dive into the complexities that specific industries present," said Katy Wigdahl, CEO of Speechmatics, in a statement. "Some sectors are known for complex terms and jargon that, if added to our global models, risk making the technology less effective for other users. This led to our approach for domain-specific packs that can directly address the needs of individual sectors. Financial services was an obvious place to start, but we hope our language pack will set a blueprint for every high-stakes industry where the financial, reputational, and social cost of misunderstanding is high."

Customers are already using the finance language pack to transcribe financial news and earnings calls and to aid call center analysts and traders. The pack is the first industry-specific pack and paves the way for other in industries like medicine and law.