by Nathan Gabriel
Published Mon, Oct 10th 2016, 22:24 | Finance
Text messaging is now the preferred channel of many businesses in communicating with their customers. It has a wide reach, runs in almost all mobile devices, easily integrates with other marketing platforms, and has high open rate. For the banking and financial industry, text messaging symbolizes a way to get in touch with customers in numerous ways.
These days, consumers are more mobile. Communication has extended to tablets and mobile devices. Consequently, SMS communication is vital for banks aiming to attain high level of customer service. For instance, customers can regularly check their account balances, avoid getting overdrawn charges, and check the status of their loan applications.
Customers can easily reach customer support by sending a text inquiry to a specific number. Automated responses can be set up so that, within seconds, customers will get an acknowledgment about their inquiry. With text messaging, customers do not need to call customer service only to be placed on hold.
The immediacy of text messaging is useful in time-critical messages, such as fraud alerts. Financial institutions can quickly uncover and tackle potential danger. SMS can be sent instantaneously to inform customers of any dubious activities on their accounts. The earlier a customer is made aware of suspicious activities, the faster it can be taken care of.
Clearly, SMS messaging will remain a valuable tool in banking procedures due to its capability to deliver swift and reliable communication. Customers find it more convenient to access their bank statements, bills, and account information through mobile channels. It’s safe to say that this trend will continue as customers keep on looking for easier ways to process banking transactions.
Although, there are multiple communication channels available, text messaging is the widely used channel of your customers mainly because of their familiarity with the tool and its immediacy.