SMS in Financial Services

Kaur Virunurm - 5 MIN READ - 10 Mar 2014

SMS messaging is a powerful mobile communication tool that allows financial service institutions to interact with their customers in a cost-effective, timely way.

Global messaging volumes in the financial service industry will continue to grow and its estimated that it will be more than 1.6 trillion in 2015.

The most popular ways how financial institutions use SMS messaging:

Alerts
Authentication
On-time passwords and PIN codes
Opt-in marketing and special promotions
Payment behavior improving reminders
High-value withdrawal and payment notifications

The SMS has the unique advantage of reach. The vast majority of handsets support SMS, whereas less than half support mobile Web and even fewer support mobile applications. This mix may change over time as advanced handsets become more widely available, but text messaging is and will continue to be the most used feature of a smartphone.

Keep texting!

Kaur Virunurm - Key account manager

Kaur deals with business and sales analysis at Messente. He likes to help key customers in optimizing messaging activies. He also is open minded entrepreneur who loves lean tech startups, fixie bikes, active sports and Jack Russel dogs.

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