Industry Verticals

SMS for Financial Sector

How the financial sector can use SMS to improve security and for customer banking needs
Industry Verticals
SMS for Financial Sector

Who loves this?

Banks, Business Analysts, Brokers, Financial Advisors, Traders, and Security Teams

Sample Industry Use

Focus: St.George Bank

Preferred Solutions: SMS Alerts and 2 Factor Authentication

St.George Bank is a division of the Westpac Banking Corporation. Westpac has over 13 million customers, which trust in the company’s ability to keep there information safe and secure. This is where SMS comes in with its two-factor authentication (2FA) protection and SMS safety alerts. It’s no consequence that most banks in this modern era have adopted 2FA into their verification processes.

Here’s an example of how St.George bank executes the usage of SMS within their business.

Alerts

  • Account activity alerts (withdrawals, deposits, and other transactions)
  • Interest rate changes
  • Low balance alerts
  • Fraudulent activity

SMS Marketing

  • Send special promotional offers to your database
  • Invite clients to special theme days or sponsored events

Reminders and Appointments

  • Send account renewals reminders to your clients
  • Set appointments for your financial advisors

Security and Identification

  • Two-factor authentication for digital transactions
  • Two-factor authentication for online banking accounts logins and activation

Try This

If you’re not already a Burst SMS customer, click here to sign up for a free trial. As for all our lovely clients, we hope you found a new solution to help market your business. If you have any questions in regards to setting any of these services up, please don’t hesitate to contact us.

Conversion Benchmarks

According to Unbounce, the median conversion benchmark in the credit and lending industry is 5.6%. Your company is in the 90% percentile if you have an open rate of 17.9%+. See the chart below for more industry data.

Source: The Unbounce Conversion Benchmark Report

Missed Opportunities

  • 43.8% of marketers in the industry have at least one page that converts less than 2.0%.
  • Marketers in the travel industry saw an average of 2,194 missed conversions last quarter
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