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SMS solutions for finance that build trust and engagement
Customers want credible and transparent communication with their financial service providers. With a targeted, secure SMS solution from Infobip, you can reach, engage, and retain more clients.
Main communication challenges in the finance industry
Customers aren’t reading your messages
Digitalization has affected many industries and finance is one of them. Encourage customers to read and engage with your messages on a channel they use regularly, pre-integrated onto their phones. Use personalized, targeted SMS messages with offers that encourage future purchases.
Ineffective communication costs a lot
Mail, phone calls, and emails can lead to high costs if not used effectively, leading you to send multiple notices to grab customers’ attention and encourage action. Use SMS to deliver critical information quickly on a channel with high engagement rates, helping you cut down on quantity and money spent.
Long wait times are frustrating
Customers want fast, easy solutions to their problems. And waiting in long queues at your branch or on the phone can lead to frustration and potential brand abandonment. Minimize bank switching by providing a quick and simple way for customers to resolve issues or get answers via SMS.
The benefits of using SMS in finance
Banking doesn’t have to be frustrating. Give customers a simple yet effective way to complete transactions, receive new offers, and resolve issues with an SMS solution built for the finance industry.
SECURITY
Enhance account security and reduce fraud
Use SMS authentication for new user registrations, password resets, transaction confirmations, and re-authentication after long periods of inactivity. This ensures users get verified easily, streamlines operational processes, and improves overall security.
PROMOTIONS
Increase customer engagement and sales
Set up targeted SMS marketing campaigns to inform customers of new mortgage rates, credit card offers, and personalized deals tailored to the services they already use.
Encourage them to take advantage of your offers by including links in your promotional messages leading them to your website.
INFORMATION
Keep customers informed with critical updates
Broadcast regulatory updates and policy changes directly to your customers’ mobile devices, simplifying compliance notification processes. With SMS, you can ensure swift and secure communication of critical information.
SUPPORT
Reduce customer wait times and improve the banking experience
Enable customers to text you instead of waiting on hold or in line at your branch. Set up automated SMS messaging to answer customers’ common queries, saving your call center agents and branch representatives time to focus on more demanding tasks.
Pay-as-you-go
Top up your account as you need with a flexible, pay-as-you-go model.
Volume-based discounts
Want to send large amounts of SMS? Get a special offer for high volumes.
Main SMS features for banks and financial services
Our SMS platform is a cloud messaging solution that integrates with any existing tech stack, providing high-volume messaging capabilities.
Personalization
Personalize your messages using attributes from People, our customer data platform, or connect your own data source.
Helping you ensure SMS compliance
Understanding and complying with data protection regulations like GDPR and TCPA is essential for sending SMS as a business. Our platform makes this easier with features such as consent management, secure data handling, and detailed auditing, ensuring you meet both regional and international legal requirements.
SMS message templates for financial services
Here are some templates you can use for your SMS messages.
Account balance alert template
Your account balance as of [Date] is [Amount]. Stay on top of your finances with our mobile app. Download now: [link].
Loan offer template
Need extra funds? Get a personal loan with low interest rates. Apply now and get approved in minutes. Visit [link] or your nearest branch.”
Fraud alert template
Suspicious activity detected on your account. Please verify this transaction: [Transaction Details]. If this wasn’t you, contact us immediately at [Phone Number].”
Investment offer template
Grow your wealth with our new investment plans! Learn more about our high-yield options and start investing today. Visit [link] or call [Phone Number].
Credit card payment reminder template
Reminder: Your credit card payment of [Amount] is due on [Date]. Avoid late fees by paying on time. Pay now via our app: [link].
Quickly connect to our flexible SMS API
Start sending programmable SMS messages with our comprehensive API and build the experiences your customers are looking for with:
- a basic or fully featured API
- advanced functionalities
- clear API documentation
- support from dev
Easily integrate SMS to your existing tech stack
We want to keep your operations running smoothly. That’s why our platform is easy to work with.
Choose from a wide range of integrations to build and add on top of our SMS API, and easily configure them with your existing systems.
Discover how our finance customers use SMS
Read our customer stories to learn how finance customers reach their business goals using SMS and other channels.
Branch: Using SMS to achieve the highest possible delivery rates for business-critical messages
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89.2%
Delivery rate for SMS authentication messages.
Management Financial Group: Increasing response and open rates for a multi-brand portfolio over a single communications platform
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20%
higher open rates -
15%
increase in response rates -
30%
more customer communications
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zingala: Hyper-personalizing the customer journey with data-driven CX
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53%
SMS click-through rate
Asia Insurance 1950: 9x faster policy renewal process with automated messaging
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9x
faster policy renewal -
83%
reduction in cost -
60%
reduction in workload
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Frequently asked questions about finance SMS
A2P SMS messaging, or Application-to-Person SMS, refers to automated text messages sent from applications or systems directly to individuals. In the context of financial services, A2P SMS is widely used for delivering time-sensitive information and enhancing client communication. These messages are usually sent through an SMS API integrated with the financial institution’s systems, enabling streamlined, reliable, and scalable communication. Common use cases include sending transaction alerts, one-time passwords (OTPs) for secure access, payment reminders, and promotional offers.
SMS messaging can enhance customer engagement by allowing financial institutions to reach, engage, and retain more clients with targeted text messages. For example, by segmenting customers and sending tailored messages based on customer behavior and preferences, banks can offer more relevant products and services. This makes customers more likely to respond and engage with the bank.
Example: A bank notices that a segment of its customers frequently travels internationally, making ATM withdrawals in another country. The bank can use A2P SMS to send targeted alerts promoting its favorable foreign exchange rates or travel insurance services. Additionally, the bank can offer personalized travel tips or discounts on international purchases through partner retailers. These relevant, timely SMS messages increase the likelihood of customer engagement and foster strong brand loyalty by demonstrating understanding and proactive service.
Financial services can use SMS to send a variety of messages, including:
- SMS alerts for credit card transactions.
- SMS confirmation of bank transactions.
- Appointment confirmation alerts.
- Notifications for direct deposit activity.
- Payment confirmations.
- SMS 2FA (two-factor authentication) or SMS OTP (one-time password) to protect customer accounts.
- Account activity alerts.
Yes, SMS messaging can be integrated with existing banking systems. At Infobip, we provide a flexible SMS API that can be used to add SMS messaging capabilities to any banking system. We also have an exchange containing ready-made SMS integrations with the most popular platforms.
An SMS service provider recognized for its excellence
The industry experts have spoken.
Our SMS service is recognized worldwide for driving impeccable results for customers.
Infobip named as established leader second year in a row
Juniper Research Top CPaaS Vendor
Infobip named a leader
2024 Gartner® Magic Quadrant™ for CPaaS
Infobip takes top spot
Metrigy CPaaS MetriRank report
Industry CPaaS leader
Leader for CpaaS 2023
In our partnership with Infobip, in addition to reliable and cost-effective SMS solutions, what we value the most is the level at which Infobip is capable to follow not only our current needs, but also introduce new services and features that meet our new needs as our business continuously grows. With top-notch technical and customer care support, Infobip continues to prove itself as a high-tech firm that follows the trends and technologies and successfully upgrades its services.
Darijo Nujic
Head of Department of Direct Banking Support, Croatian Postal Bank
Redesign your banking experience with SMS for financial services
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