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Use cases and SMS applications for Financial and Fintech

The use of SMS in public administration allows direct, unmediated and effective communication with citizens. Since practically all citizens have access to a cell phone, SMS becomes a universal and accessible channel for transmitting important information.

This sector includes banks, fintechs, insurers, payment gateways, investment funds, credit unions, neobanks, lending platforms, wealth management and digital payment services,...

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The SMS channel for the industry Financial and Fintech

The most relevant concept for this sector today is security, as due to multiple cyber-attacks and online scams, data has to be protected.

The fact that SMS is consolidating as a complementary tool in the management of this type of vulnerable data, allows your customers to have immediacy, security, accessibility and efficiency in communication.

These benefits make SMS a valuable tool for banks and financial institutions, improving both security and customer satisfaction.

Banks can send automatic notifications about account movements, incoming payments and other transactions, keeping customers informed without the need for manual intervention.

Main sector uses Financial and Fintech

  • Two-factor authentication (2FA) with OTP codes
  • Sending security codes for signatures
  • Security alerts
  • Support case or ticket management
  • Confirmation of transactions
  • Payment or subscription reminders
  • New developments in the service or entity
  • Administrative reminders
  • Customer service rating
  • Incidents or service interruptions

Examples of SMS messages for the industry Financial and Fintech

BankYou: Your verification code is 123456. Finish the operation within 10 minutes.
Description: Message with information about the verification code and session status information.
BankNear: You have received a 20,00€ bizum from A.B.G for Friday Dinner
Description: Message with the summary of an economic transaction, sender's data and amount.
BalanceMore: We inform you that your next installment of 250 ¤ will be discounted on 1/02/2025.
Description: Message with information about an upcoming payment with information about the amount and due date of the debt.
BalanceMore: Hi Eduardo, we have a new loan offer suitable for your needs, if you want to know more, click here: www.labsmo.bi/Msg1988
Description: Commercial message about loan opportunity, link is provided to access more information.
More examples

Success story

Automating SMS collection messages with Paymefy

Paymefy automates the management of collections and non-payments through digital notifications and artificial intelligence algorithms. It uses SMS as an effective channel to remind pending payments, achieving high conversion rates and improving communication with users.

Read success story

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