| Nowadays, mobile messaging is being used in financial | | | | account |
| industries like banking and insurance. High convenience | | | | - Request to suspend existing ATM card or credit |
| and right reach out of SMS gained the love and | | | | card |
| preference of financial industry. Other than to inform | | | | - To deactivate debit or credit card when it is lost or |
| customer on latest arrivals and offers, SMS is also | | | | the PIN has become known to another person |
| used to alert people on several other matters in | | | | - Enquire foreign currency exchange rates |
| financial sector. Though majority of people have | | | | - Enquire fixed deposit interest rates |
| access to internet and emails, demand of mobile | | | | SMS gateway providers offer a good quality of |
| phones doesn't go down. It is because of its | | | | services for banks and other financial institutions. SMS |
| matchless convenience and as such people will keep | | | | banking software solutions render a robust control |
| phone with them throughout the day. | | | | ambiance and scalable and flexible working |
| How banks get benefited from bulk SMS services? | | | | environment. With unmatched comfort and unique |
| SMS banking, a new and more improved technology | | | | convenience, SMS banking has become the most |
| used by banks to inform customers about new plans | | | | preferred technology by both customers and bankers |
| and policies. This service allows banks to operate | | | | for providing and enjoying services. It added plus to |
| certain banking services over the mobile phones via | | | | the relationship of customer and the banker. SMS |
| SMS messaging. Mostly SMS messaging is used for | | | | banking let banking people to directly influence the |
| two types of messages; push messages and pull | | | | decisions and help customers in financial matters. |
| messages. | | | | Arrival of SMS banking reduced the volume of visit |
| Push messages: These are the messages send out | | | | by customers to bank. You won't need to bear the |
| by the bank to customers' mobile phones without | | | | rush and hectic atmosphere of banks to carry out |
| any request from customer end. Generally these | | | | financial matters. While sitting in a convenient place |
| messages involve contents alerting customers an | | | | you can mange your bank account transactions. |
| event which occur in customer's bank account. | | | | How insurance companies take advantage of mobile |
| Typical push message by banks includes: | | | | messaging? |
| - Report of account balance | | | | It is the time of booming of insurance companies |
| - Credit details to the account | | | | around the world. Thousands of insurance companies |
| - Execution of a standing order | | | | targeting the same population round the globe. It |
| - Payment of cheque issued on the bank account | | | | became vital for an insurance company to stay |
| - Bulk amount of withdrawals on the account | | | | unique and exclusive in offerings and policies and |
| - Large withdrawals via ATM or EFTPOS using debit | | | | provide hassle free services. In such a competitive |
| card | | | | stage and higher pressure, it is essential for an |
| - Large volume of money spent via credit card | | | | insurance company to adopt newer and more |
| - Purchasing or payment to another country using | | | | improved technologies to make each operation |
| credit card | | | | effective and cost efficient. Here comes the |
| - One-time pass word and certification | | | | importance of SMS messaging in insurance filed! SMS |
| Pull messages: These are the messages made by the | | | | messaging facilitates insurance companies to develop |
| banks upon the request of customers. Customers | | | | higher leads using short code services and endows |
| make such request to gain some information or to | | | | the sales people with 2-way communication ability. |
| perform a transaction in the account. Typical pull | | | | SMS messaging helps insurance agents to send |
| message service includes: | | | | reminders regarding premium payments and policy |
| - Enquiry for account balance | | | | renewals and enjoy returns in terms of elevated |
| - Request for mini statement | | | | commissions. TPAs are enjoying great benefits from |
| - Electronic bill payment | | | | mobile messaging. It allows them to optimize the |
| - Transferring money between customers' own | | | | utilization of resources via facilitating quicker claims |
| accounts, for example from saving account to | | | | and minimizing cost of operations. How mobile |
| current account | | | | messaging helps insurance sector to stay in touch |
| - Stop the payment on a cheque issued by the | | | | with customers? |