How SMS and multi–channel messaging can help BFSI institutions enhance customer engagement

Admin . 2nd November, 2021 . 2 Min Read

Gone are the days when customers had to wait and stand in long lines to have their issues resolved. SMS and multi-channel messaging for financial services is the quickest, dependable, and most attention-getting form of communication currently available, which is just what companies in the ever-dynamic BFSI industry needs.

Bulk-SMS and multi-channel messaging is a tool for banking and financial institutions to reach out to their customers regardless of where they live.

Ways financial institutes and banks can use SMS and multi–channel messaging:

  • Instantly notify customers about account transactions

  • Send real-time alerts and notifications

  • Card activation - Using SMS for activation of new credit or debit cards ensures fast activation. 2-way SMS messaging for first-time use activation can enable approved consumers to validate their cards instantly.

  • New product and service launches

How would SMS and multi–channel messaging benefit banks and financial institutions?

  1. Sending text alerts – financial institutions may use texts to send notifications about your account balance, withdrawals, and deposits, among other things. Customers will also benefit because it saves them from an on-site visit

  2. Saves time - the information is sent directly to the phone, and instantaneously

  3. Increases consumer response rates - Text messages receive 45 percent of responses, whilst emails receive only 8%

  4. Keeps clients updated – keeping clients up-to-date on new pertinent programs that they may be interested in.

  5. Cost-Effective- SMS and multi-channel messaging is both economical and easily accessible in this day and age that does not require spending a lot of marketing spend

  6. Eliminate mistakes - Calling clients for every minor detail is unnecessary because the majority of concerns can be resolved via text. It also aids in the reduction of errors.

  7. Improved customer engagement – this is the main issue banks and financial institutes are trying to resolve in terms of the engagement and response times to messaging and replying

Talito is a cost-effective and user-friendly platform ideal for financial firms and banks of all sizes and industries. Want to find out more about how Talito could be the best SMS and multi-channel messaging solution for your business? Click here to find out more.