Xtend IVR

Updated Currency Rates and Conversion

It is not that easy to get the latest international currency rates or the local currency value equivalent to a particular international currency. Any person who is going to deal - buy or sell - internationally will first refer to the latest currency rates. Only one who knows the rates can convert the international currency value to the local value or vice-versa.

So, in this application scenario, there are two related functions that provide very useful information to the public. One is to provide the latest international currency rates. And, the second is to provide the converted value information from international currency to the local currency or vice versa.

Presently, the public fully depends on reputed and well-established financial institutions like banks, foreign exchanges etc. to get the latest and accurate information. These institutions should have sufficient staff to handle such customers. It is not feasible to have staff only for managing the information centre. So the institutions will have to give this job additionally to the highly skilled people.

IVR system developed by Xtend Technologies Pvt. Ltd. can easily handle these operations which will help the financial institutions streamline their staffs to more manual-intensive jobs.

Role of an IVR System

Deployment of an interactive voice response (IVR) system to automate the provision of the information on currency rates and conversion can easily replace the labour-intensive manual activities of the financial institutions. The new system can streamline and standardise the process at a substantial cost savings. This like a normal telephone enquiry system facilitates enquiries relating to the latest accurate international currency rates and conversion values from one currency to the other.

IVR based automated information systems using ordinary phones are becoming very popular and affordable these days. Instead of relying on word of mouth that is quickly out of date and expensive, automatic phone messaging lets you contact the right point and get the most accurate, reliable and latest information instantly from your seat!

Let us assume that a financial institution is automating the currency rate information system in their area. An IVR system can be used here very effectively and efficiently.

A person can easily retrieve the latest information on the international currency rates and conversion values using an IVR system. When a person dials the number from an ordinary telephone, he is automatically taken into the IVR system because the telephone line is connected directly to it. After the welcome message, the system will first ask the caller to 'press 1' if he/she wants to know the latest currency rates or 'press 2' to go to the currency conversion module.

If the caller presses 1 on his phone keypad after the welcome message, he will be directed to the currency rates module. The caller will then get a voice message to press 1 for US dollars, 2 for Euro, 3 for Dirhams, 4 for Yen and so on. When the caller presses the desired key, he will get the respective value in the local currency.

If the caller presses 2 on his phone keypad after the welcome message, he will be directed to the currency conversion module. Here, the caller will first get a message to select the 'source' currency (the currency which the caller wants to convert) by pressing the respective numbers on the keypad as directed by the voice message. Then, the caller will be prompted to select the 'destination' currency (the currency to which the caller wants to convert) by pressing the phone keys as done in the previous step. Now, the caller will be asked to enter the value of the source currency. Once he/she enters the value using the numeric keys on the phone, he will get the converted value as voice message reply.

When the caller exits from the system, he/she will be greeted with a 'thank you' message.

The caller can anytime get the latest updated information on the international currency rates and currency values by just keying in the respective numbers on an ordinary telephone. Customising the IVR system can also incorporate provision for many other features like switching from currency rate module to conversion module. Adding the multi-lingual features can solve linguistic problems.

Currency Rates Information and Conversion System can now be accomplished quickly, efficiently and cost effectively using the latest and most modern IVR technology from Xtend Technologies.

Advantages of an IVR System
  • Automatically handles every call from customers.
  • Answer calls on the first ring, 7 days a week, 24 hours a day.
  • Speak to callers in human tone of voice.
  • Optional multi-lingual prompts.
  • Provide accurate and reliable information, up to date.
  • Resources your present personnel for more productive work.
  • Smoothens the information process.
The Bottom Line
  • Expanded Customer Service Hours
  • Standardised Operational Procedures
  • Improved Customer Service
  • Enhanced Productivity
  • Streamlined Staffing
  • Lower Cost
  • Efficient Information Flow
  • Reduced Staffing Requirements
  • Reduced Paper Environment
  • Improved Customer Satisfaction