One and two-way SMS alerts deliver retention and risk management to customers and financial institutions alike
M-Com, an Atlanta-based international mobile banking and payments solution provider working with banks and transaction processors, is now offering 50 one and two-way SMS alerts live in the market. They help consumers stay abreast of account balances, account activity and help identify and resolve fraudulent transactions by unauthorized parties – reported Mobile Financial.
It has been reported that one and two-way threshold, scheduled and security alerts are a core module of M-Com’s BankAnywhere platform. M-Com claims that BankAnywhere is the only solution to simultaneously deliver mobile; biller, point-of-sale, remote merchant, international remittance and domestic person-to-person payments across all three mobile access modes; SMS, Mobile Browser and Downloaded Application user interfaces.
Adam Clark, founder and CEO of M-Com, said: “As financial pressures mount on the average American and financial fraud continues to rise, consumers are looking to their bank or credit union to proactively notify them of financial events that are important to them. The ubiquity of the mobile device and text messaging in particular create the best possible opportunity for financial institutions to deliver control and convenience to their customers. Ultimately, it also helps to make those relationships more profitable.”
Nick Holland, senior analyst from research firm Aite Group, said: “One and two-way SMS alerts enable customers to feel in control over their finances. Not just for online banking consumers, but for business users and those segments that are not active in the mobile channel. Having alerts integrated into the mobile banking user experience delivers retention and risk management to customers and financial institutions alike.”