Voice Bots in Banking and Insurance: Secure Automation

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We explain how to implement a voice bot while maintaining control over information and ensuring data security—especially critical in the financial and insurance sectors.

Financial companies process hundreds of inquiries daily: personal data, accounts, contracts, payments, policies.

However, one unverified third-party service—and client trust and reputation are at risk.

Data security is a critical priority for financial and insurance institutions. Not all technological solutions suit them due to specific requirements.

What are these requirements, and what should you consider when choosing a voice bot? Let’s explore together in this article.

Regulatory Requirements for Banks and Insurance Companies

In the financial and insurance sectors, data security is a legal obligation, clearly defined in the regulations of the National Bank of Ukraine (NBU). Let’s review them in order.

Banks

The basics: any tool with access to client data (such as a voice bot) must be part of the bank’s information systems and comply with Information Security Management System (ISMS) requirements. [1]

The bank is obligated to:

Control who has access to information systems
Use multi-factor authentication mechanisms when granting access
Maintain a log of all actions regarding granting, revoking, or changing access to information systems [1]

From this, we can conclude: any solution—from CRM to voice assistant—must fit within the bank’s ISMS and not transfer data beyond the controlled infrastructure.

Important: The NBU directly provides for sanctions for violating information security requirements. In case of a threat to client data security, the bank may receive a fine of 0.01% of statutory capital. [2]

That is, for a bank with capital of UAH 1 billion—that’s up to UAH 100,000 in fines for just one incident, not counting reputational consequences.

Insurance Companies

For insurers, information security is directly tied to operational risk management. The regulator requires that:

Clear rules for managing access to systems and information are in place: who has access to what and under what conditions, how this access is granted and revoked
The insurer ensures the integrity and availability of information—through backup, protection against distortion, loss, or destruction of data
Insurers maintain records of contracts, payments, reserves, and all this data is in protected information systems [3]

In other words, the insurer is obligated to guarantee the confidentiality, integrity, and preservation of client data at all stages—from collection to archiving.

What’s Better: Cloud Solutions or On-Premise?

An on-premise solution is installed and operates on the company’s own servers, not in an external provider’s cloud. You fully control data, access, and security. Below is a comparison of the two approaches by key criteria.

Cloud Services	Criterion	On-Premise Solutions
Data is processed and stored with a third-party provider	Data control	Data remains entirely within the company’s infrastructure
Servers may be located in other countries	Server location	Installed on your own servers
Additional checks needed, as data may be stored outside Ukraine’s jurisdiction	Compliance with law	Full compliance with NBU standards, GDPR, and Ukrainian legislation
Present—the financial institution doesn’t control who has access to servers	Information leak risks	Minimal—all access is under your control
Present—any policy change, failure, or attack on an external provider automatically becomes the financial institution’s problem	Dependence on external providers	Absent—the solution operates in your system without using external clouds

The on-premise approach, unlike cloud solutions, operates within your infrastructure—by your rules and without transferring data to third-party services. Voice Bot Veridia operates on the same principles.

You get a voice assistant while maintaining 100% control over data. This is automation without compromise.

What Can Veridia Voice Bot Do?

In banks, the Veridia Voice Bot voice assistant can:

Report balance, credit status, transaction history
Advise about products, exchange rates, branches, ATMs
Accept applications: opening an account, credit, callback
Remind about payment arrears or changes in terms
Redirect complex questions to an operator with already collected information

In insurance, the bot can:

Advise on insurance products
Collect data for policy calculation, process applications
Enter inquiries into CRM and perform basic verification
Accept inquiries during peak periods without loading operators
Remind about policy expiration, check payment status

What Does Voice Bot Implementation Provide?

Accelerate request processing by 30–60%
Reduce contact center load
Decrease personnel costs
24/7 customer service
Minimize errors in responses and data collection
Increase client trust and satisfaction

On-Premise Automation for Data Security

Data security is not an option but a mandatory requirement for banks and insurance companies. Veridia Voice Bot’s on-premise solution allows you to meet this requirement while automating operations.

Automation without compromising security is possible.

Request a consultation and we’ll explain how a voice assistant can work in your business without risks to data security.

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