How Fintech Companies improve Customer Engagement with Text messaging

With the Covid-19 pandemic bringing dynamic changes to the mode of operation for business, forcing most to rely on high-tech communications technique in providing customer service and keep the business afloat, a majority of financial technology institutions are beginning to see text messaging as a gateway to provide customers with a better digital experience. In today’s new-normal, text message for fintech companies is critical to efficiently service customers.

In fact, text message marketing has gone from an alcove-type into the most recognized for effective engagement. More of these financial institutions are now identifying and leveraging the benefits of Text messaging.

Asides the usual text-notifications such as account balance checks, transferring funds, reviewing a recent transaction and other “online” financial options, these institutions are using text messaging to improve in their communications in these areas -

Improving Customer Service:

Many customer support transactions are now being handled automatically through text messaging. For mobile money business apps, moving customer care services to SMS is a plus for them and their customers. This is a sure way to improve efficiency and provide customers with a quick and easy way to get answers to basic questions and eliminate the stress of having to travel speak to a live agent.

Seamless Digital Banking:

The immediacy of text messaging makes it easy for fintech companies to increase the flexibility and efficiency of their customer service in their mobile applications through text-notifications to verify customers and transactions.

Advanced Security Features:

Undoubtedly, data protection is a major priority in these times. Termii’s messaging technology has simplified this process — with a single API, fintech companies can verify customer transactions, generate and manage OTPs (one-time-passwords).

In summary, more financial institutions are identifying the benefits of text messaging, for both business and customers. It's simple, easy to use and instant nature improves a customer relationship which in turn translates to their loyalty. The integration of automated text messaging also ensures real-time communication with your customers.

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Termii is a web-based messaging platform that helps businesses in emerging markets use messaging channels to verify and communicate seamlessly with their customers. We have simplified these processes into simple, easy-to-use, and affordable tools that have proven to take business communications to the next level. Find out how we can leverage our platform for your business-customer communications by signing up at www.termii.com or send us a mail to sales@termii.com

Cecilia Abegunde, Growth Lead Termii