Merrill Adds Speech-recognition to 401k

December 4, 2000 ( - Merrill Lynch has added Speech-recognition to its 401(k) Interactive Voice Response (IVR) system, allowing participants to access information and initiate transactions by speaking their requests.

Through spoken commands, participants can now:

  • access account balances
  • access real-time quotes
  • change their rate of deferral
  • change their future investment direction
  • reallocate their current portfolio allocation
  • model account-value growth
  • check fund performance.

Merrill Lynch Benefits and Investment Solutions Group serves 2.4 million employees participating in large and middle-market company employee benefit plans.

– Nevin Adams