Banking sector is one industry that has never lost its value and will never lose its value, which is the reason why it can be considered as an evergreen sector. Though there have been many changes done, when it comes to operating the banking sector, as a common example to cite is the inclusion of technologies, but still the core functioning such as sash withdrawals, cash deposits, cheque deposits, demand draft etc., will remain the same.
Mobile messaging has been highly successful when it comes to linking bank customers with their respective banks. Customers can get all the updated and relevant bank related information in the form of text messages. Banks worldwide have been and will be using the medium of mobile messaging to its full extent and thereby strengthen the relationship with their esteemed customers. To top upon that, according to a leading research firms, almost half of the millennials have shown keen interest in receiving SMS alerts from banks.
Why the inclusion of Mobile messaging in banks will always be of value?
1. Accessing your bank account information: At any point of time, if you want to know how much balance is there in your bank account, or say of you have deposited cash (or) cheque in your bank account and want to know whether it has been added to your bank account, you can easily check your account status with the help of mobile messaging. You have to just text the right short code and other relevant details, and within a short amount of time, you will receive all the bank details that you wanted in the form of a text message.
2. Bank Notifications: In certain scenarios, banks notify their customers on aspects such as additional documents required for updating and maintaining bank customer’s bank account, last date to inform the bank as to whether customer wants to roll out their fixed deposit for the next consecutive year etc. Banks might even notify about certain promotional service for which a customer has shown keen interest in.
3. Fraud Alerts: There might be an instance wherein fraudsters pose as your bank representatives, and so will try to extract sensitive information from you. In this situation, Banks as soon as they get the news about the ongoing fraud, will text alert all their customers about the ongoing fraud, and how they can be aware and stop themselves being caught in this web of deceit.
4. Bank updates: Certain banks might come up with a few new rules and regulations or there might be certain changes that have been made to different areas of banking. In such case, banks can take the initiative of sending text messages to all their customers updating them about the changes and how they can carry out further banking procedures.
5. Customer Service: As bank customers already provide their phone number when they open their account, hence to serve customers well, banks send SMS when a customer has any sort of query. For suppose, if the customer wants to know whether they have a branch at the place where they reside or they might want to know their bank balance etc.
To summarize, Mobile messaging can act as a communication as well as marketing tool for banks, thereby refining various functions of the banks.
