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SoundHound AI's Amelia Wins XCelent Advanced Technology 2024 Award for Retail Banking Solutions

Business Wire 10-Oct-2024 9:04 AM

The recently acquired conversational AI platform also achieves "Luminary" status in Celent rankings

SoundHound AI, Inc. (NASDAQ:SOUN), a global leader in voice artificial intelligence, today announced that its Amelia conversational AI platform has received the XCelent Advanced Technology 2024 Award from research and advisory firm Celent.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241010806606/en/

SoundHound's Amelia conversational AI platform has received the XCelent Advanced Technology 2024 Award, and achieved "Luminary" status, from research and advisory firm Celent. (Graphic: Business Wire)

SoundHound's Amelia conversational AI platform has received the XCelent Advanced Technology 2024 Award, and achieved "Luminary" status, from research and advisory firm Celent. (Graphic: Business Wire)

The Celent report titled, "Retail Banking Intelligent Virtual Assistant Platforms," recognizes Amelia as one of the highest-rated solutions among 10 retail banking intelligent virtual assistant platforms in both the Advanced Technology category and the Breadth of Functionality category. Additionally, Amelia's high scores placed it in the "Luminary" category – Celent's top rank within its Technology Capabilities Matrix – based on the sophistication and breadth of the company's technology.

"Celent's evaluation includes an in-depth market analysis and close review of each platform's capabilities," said Robert Meara, Principal Analyst, Banking, of Celent. "Amelia stands out for its strong functionality and ongoing commitment to providing innovative solutions for the retail banking sector."

Amelia was highlighted for key strengths and differentiators, including:

  • Longevity in market and longevity with Generative AI
  • Extensive experience in conversational intelligent virtual assistant (voicebot) implementations
  • Well-honed use of Generative AI for model development (Amelia builds Amelia)

The report described Amelia as "an undeniably tenured and capable conversational AI (CAI) specialist with the largest client base among vendors profiled in this report, when considering both banks and nonbanks. Moreover, Amelia's longevity in so many tier 1 banks is testimony to its efficacy in an environment where switching vendors is commonplace."

Amelia is designed to support a wide range of retail banking needs – from local and community banks to regional institutions, credit unions, online banks, and enterprise-level organizations. The platform has a number of pre-built integrations for crucial banking applications, as well as pre-trained models tailored to consumer retail banking needs. Thanks to the agnostic flexibility of the Amelia platform, SoundHound can deploy conversational AI across various financial services sectors, including wealth management, insurance, and other specialty banks.

"This recognition from Celent is a testament to our innovation and proven expertise in intelligent virtual assistant solutions," said Michael Anderson, EVP, AI for Enterprise at SoundHound AI. "Amelia's long-standing leadership in conversational AI and generative AI has already made a transformative impact across the financial services industry. Now, as part of SoundHound, we're poised to further enhance these capabilities with superior Voice AI. We're proud to be acknowledged for our robust solutions and continued success in serving tier 1 banks and beyond."

Learn more and request a demo about SoundHound's Amelia AI agents for financial institutions here.

About SoundHound AI

SoundHound (NASDAQ:SOUN), a global leader in conversational intelligence, offers voice and conversational AI solutions that let businesses offer incredible experiences to their customers. Built on proprietary technology, SoundHound's voice AI delivers best-in-class speed and accuracy in numerous languages to product creators and service providers across retail, financial services, healthcare, automotive, smart devices, and restaurants via groundbreaking AI-driven products like Smart Answering, Smart Ordering, Dynamic Drive Thru, and Amelia AI Agents. Along with SoundHound Chat AI, a powerful voice assistant with integrated Generative AI, SoundHound powers millions of products and services, and processes billions of interactions each year for world class businesses.

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