You’ll soon be able to trade stocks with your voice

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Traders could buy and sell stocks with a simple voice command in the near future, Sandler O’Neill analysts predicted.

It’s “not too far where ‘voice recognition’ technology is combined with ‘voice identification’ to produce the fully automated ‘voice commerce’ (without interaction with a customer service representative),” the analysts wrote. by Sandler O’Neill, Richard Repetto and Collin Cook in a note on Wednesday.

Speech recognition technology is widely adopted right now. Devices like the Amazon Echo speaker allow users to listen to music, preview today’s top news stories, and make purchases, for example, with a simple voice command.

Repetto and Cook said they believe taking a more automated approach to trading – one in which traders can execute trades with a simple voice command – “could become more popular”.

Currently, Fidelity and Charles Schwab are the only retail brokers that allow merchants to transact using their voice, but the process is not fully automated. Both companies use a so-called voiceprint to identify the person attempting to complete the transaction. Voiceprints work similarly to fingerprints or faceprints, two technologies currently used to unlock cell phones.

Here’s how it works: After registering their voiceprint, merchants must log in, enter their account number, and speak to a customer service representative. Once these steps are completed, merchants are allowed to transact or withdraw money from their accounts with voice commands.

A more automated approach, which avoids human interaction, could be implemented as voice recognition technology is adopted, Repetto and Cook said.

“We believe that fully automated voice recognition, identification and trading could open the door to further voice-enabled technological advances in banking and brokerage,” they said, adding that it could “increase transactions slightly, over time”.

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