More than 100 million “financial” SMS per year

Through our platform products, our financial sector customers are already nearing the figure of 10 million SMSs per month. This is an undoubtedly major percentage of all SMS mobile banking communications made every month in Spain”, stated company sources. “Its constant and sustained growth over the past years, especially intense in these past few months, is the product, on the one hand, of greater demand, as it is a service that is completely assimilated by financial institution users and customers, and on the other hand, the product of the channel’s reliability and the robustness of our products”, the software manufacturer confirmed.

Although the greatest percentage continues to be one-way or push communications, basically transaction and card notifications, the services with a return from the customer are those that ultimately show the highest growth. Thus, institutions are capitalizing the medium’s two-way aspect and increasing the communication value as in many cases it already deals with genuine customer transactions with their institution, such as postponements or calls to action on the support of the first SMS notification. Another of the services with the highest progression are OTPs (one time passwords) via SMS to enable closing transactions, thus optimizing the process’s security.

“The value of a transaction goes beyond the SMS itself that the bank sends or receives. It includes a series of data and information that is prior and subsequent to sending the message that enormously enrich our customers’ knowledge of how and when their users receive the messages. We are dealing with mainly paid services. Therefore the level of demand and monitoring of communications, with the application of permanent business rules such as prioritization, expiration or deferred delivery are no longer appropriate, but rather indispensable in providing the service (from the bank to its customers)”, said Latinia to finish up.

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