| |
 |
Banking Services - Multiplying transactions |
|
| |
This decade has seen two major changes in
the Banking industry. |
| |
|
 |
Advent of the ATM/Internet has reduced the
competitive advantage of bigger Banks in terms
of higher physical presence. |
| |
|
|
The distinction between the Banks and Financial
service organization has vanished as Banks have
matured into a complete personal finance
institutions providing bouquet of financial services
under one umbrella. |
| |
|
|
These shifts in the Banking industry have
two major implications on the operational
model of the Banks: |
| |
|
|
Banks need to look for multiple and alternate
channels to engage the customer by providing
him/her with value added services. |
| |
|
|
Banks need to look for innovative means of
reducing the transaction costs the per- customer
transactions have increased, as Banks are
providing multiple services under one roof. |
| |
|
|
| |
|
Why Mobile Messaging becomes crucial in Banking Services? |
|
| |
|
|
Cost Effective: Mobile messaging helps Banks
provide value added services at a marginal cost |
| |
|
|
Targeted: Specific message are conveyed based
on the customer profile |
| |
|
|
Anywhere/Anytime: Mobile is almost always with
the customer. |
| |
|
|
Personal: Highly effective as communication to
an individual |
| |
|
|
Automated: Automatic relay of critical information |
|
|
|
|
Bouquet of mobile messaging Services |
|
| |
| Information Broadcast |
| |
|
|
Changes in policy affecting the consumer, e.g.
Interest rate.
Communication about major event, e.g. Branch
opening. |
| |
|
|
| |
Scheduled Narrowcast |
| |
|
|
Daily/Weekly reminders of account balances.
Monthly status of reward points.
Reminder of EMI payments, Bill payments.
Send monthly applicable Bank charges. |
| |
|
|
| |
Event Triggers |
| |
|
|
Balance below a specified limit.
Salary credit/ Cheque deposit in the bank.
Credit limit exceeded.
Cheque bounce/honour alert.
|
| |
|
|
| |
Register Enquiry |
| |
|
|
Enquire account balance.
Report lost/stolen card.
Issue stop payment notice.
Enquire loan/credit status.
Enquire exchange rates.
Order cheque book.
|
| |
|
|
Mobile messaging provides a cost effective
means to engage a customer and build a
long-term relationship. |
|
|
