Financial Services

With the mobile phone approaching full market penetration across European markets and North America and many parts of Asia rapidly catching up, there is no better or more productive way than mobile for financial services companies to serve customers-nor is there any channel that's more direct.

In fact, the benefits of mobile financial services-both for financial institutions and consumers-are numerous.

• Low cost communication - mobile messaging is more cost-efficient compared with letters or call centers.
• Direct communication - SMS allows financial institutions and their customers to interact in real-time wherever they are located. Fraud prevention features can engage more quickly, and service response can significantly shorten, increasing the loyalty of pleased customers.

Read our whitepaper "SMS - The Foundation for Mobile Banking & Payments" that goes into more detail to help you understand more about SMS mobile solutions and how they can benefit for your organization and your customers.

Watch our webinar "SMS for Financial Services" which demonstrates how SMS messaging reduces costs and improves results in financial organizations today.

Mobile services can both reduce cost and create new revenues. Banks and other financial services organizations can provide customers with innovative and value-added services such as:

• Account Alerts - including balance, overdraft, payment reminders and transaction information.
• Process alerts - provide customers with updated milestone information for mortgage, insurance and loan application progress.
• Fraud prevention -confirm legitimate transactions or provide second-level authentication such as pin codes for web access.
• Internal Communication - IT systems alerts, company staff notifications
• Marketing - personalized and interactive marketing with customers.

And customers are clamoring for these and other mobile financial services. In recent surveys in the UK, 51% of online banking users questioned said they would use mobile banking services. And half of those said they would go so far as to change banks in order to get such services (Source: Jupiter Research).

mBlox works closely with partners that lead the provision of mobile banking and other financial services. We support some of the world's leading financial institutions with their mobile solutions. Click here to see a list of financial services partners.