Happy customers means a happy bank. Use SMS to deliver personalised, targeted messages to your customers, right when they need them. Plus, you can automate processes, add an extra layer of security, and reduce call centre load with text messaging too.
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Online banking has seen an incredible boom in the last decade, including the massive uptake of mobile banking. While mobile banking was originally performed through SMS then through mobile browsers, with mobile banking becoming far more commonplace in society, banking apps have become increasingly sophisticated and the security to protect customers has had to evolve accordingly. Financial institutions of all kinds, including banks, building societies, credit unions, credit card companies, remittance companies, brokerage firms, non-bank lenders and money transfer enterprises can benefit enormously from mobile banking, as can their clients.
While SMS is lesser used for performing banking transactions now, there are various SMS banking solutions that are specifically customized for use by the finance and banking industry. The advantages of using SMS for banking purposes include enhanced communication with regards to speed, cost effectiveness, reliability, and unobtrusive messaging. Open and response rates for text messaging are far superior to that for email, which in turn is preferred over traditional mail and voice-to-voice calling for ease of use.
Customers prefer reliable information regarding their financial transactions. Invest in a banking SMS gateway for your financial institution to amplify the satisfaction of your clients and hence to maximise your profitability.
SMS banking solutions can be used in the following ways:
• Notify consumers instantly of account transactions
• Send payment reminders
• Allow customers to monitor their account activity
• Increase customer satisfaction and retention
• Use one time passwords to reduce fraud and theft
• Effect debt collection
• Reduce operating costs
• Generate real-time fraud alerts
• Reduce defaulting on loan payments
Customers prefer reliable information regarding their financial transactions. Invest in a banking SMS gateway for your financial institution to amplify the satisfaction of your clients and hence to maximise your profitability.
Just some of the ways the finance industry is benefitting from SMS.
In this day and age people expect reliable information quickly, making text messaging the perfect medium for communication. Consumers who opt in for SMS messaging tend to be receptive to the medium; given they have indicated that it is their preferred method of communication with banking institutions, over time this will translate to greater use of the services provided. Empower your customers to self manage their mobile banking and be receptive through text messaging to ensure your customers remain satisfied and loyal to your brand.
There are many transactional messages you need to send your clients during your daily processes, for example when funds have been transferred, accounts have been finalised, rates have changed, loans have been approved or new funded loans.
With SMS banking solutions you can quickly and easily notify consumers of account transactions, send payment reminders (including reducing the late payments by sending reminders before payments fall due), send collections messages to recover funds owing and allow customers to monitor their account activity. By automating your messaging through our integrations you can shave hours off your communications processes, reducing your overall operating costs.
Banks have always been a big target for criminals - think bank robberies and elaborate heists - and just as banking has moved online so have the criminals.
As such, banks and financial institutions spend a lot of time and money on ensuring all systems are secure and making every effort to minimise fraud and theft. Most common ways to use SMS for security includes text messaging for two-factor authentication, through issue of one-time passwords. You can also use SMS to send real-time alerts of fraudulent account activity to the account owners. In doing this, you shave time off having to call customers and can shut down activity on the account much more quickly - preventing further fraudulent activity taking place and doing right by your customers. Which in turn then engenders greater brand loyalty.
An SMS gateway can be effectively utilised within the financial marketplace for the benefit of both consumers and service providers. This includes using SMS for cross-selling and for prevention of fraud.
Create greater connections with your customers in the moments that matter with messaging that actually gets read.
