Five ways to enhance relationships in the era of remote banking.
Monitise has launched its latest Quick Guide, advising banks on harnessing the unique attributes of mobile to enhance and improve customer relationships.
In ‘How can banks stay connected in a self-serve world?’, the global Mobile Money expert examines the impact of ‘remote’ banking on customer relationships, and how banks can re-engage using the multitude of channels now at their disposal.
Citing five ways they can win back the connection by introducing next generation technologies and allowing the consumer greater flexibility to communicate on their own terms, the guide offers tips and advice on moving mobile communications from ‘information’ to ‘dialogue’ to build brand loyalty.
Will Jones, EMEA Managing Director for Monitise comments: “Though the opportunity to bank anywhere has undoubtedly made life easier for the consumer, it has naturally led to an evolution of the customer relationship. User experience is now the most important aspect of customer servicing, while loyalty is much harder to secure than in the era of face-to-face banking. The challenge for banks is to re-energise their bond with customers; using mobile to connect in a way that is more intuitive and useful than ever before.”
A new generation of messaging products, such as Alerting+ from Monitise, is reintroducing two-way dialogue via multi-step, actionable alerts on a variety of account management and servicing matters.
Unlike first-generation alerting services, which required customers to phone or visit their branch to take action, the new products message customers; then, depending on response, serve relevant automated questions and replies. Messages can be segmented according to their urgency, while the customer can set preferences to only receive alerts on the issues that matter to them most.
Alerting is already valuable in managing card fraud, by accelerating responses to suspected fraudulent activity.
Will Jones adds: “Products like Alerting+ offer banks far greater control over communications so they can engage with customers more appropriately and
efficiently, and increase control for consumers to make decisions about their money on the go. The result is a greater reliance and connection between the two, and the opening of opportunities to drive loyalty and revenue through cross-selling and up-selling relevant products.”
The Quick Guide: ‘How can banks stay connected in a self-serve world?’ can be downloaded here, while more information about Alerting+ can be found here.
If you would like to find out more about enhancing communications with your mobile customers book a Discovery Workshop with Monitise’s mobile experts here.
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Monitise (LSE: MONI) is a world leader in Mobile Money – banking, paying and buying with a mobile device. Leading banks, payments companies, retailers and mobile networks use Monitise’s technology platforms and services to securely connect people with their money.
33 million people have registered for Monitise’s patented technology to ‘bank anywhere’, ‘pay anyone’ and ‘buy anything’, accounting for 101bn(USD) of payments, purchases and transfers annually. Additionally, Monitise-designed high-engagement apps across multiple industry verticals and email subscribers to the Monitise Content consumer business total more than 49 million. More information is available at www.monitise.com. For views and insights from the Monitise team about the world of Mobile Money, visit www.monitise.com/insights and to find out more about Monitise’s mobile innovation and design studio, visit www.monitisecreate.com.
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