Whatsapp for banking sector
Financial institutions can offer assistance, send promotional messages, and take advantage of cross-selling and up-selling opportunities using WhatsApp for bank sector. WhatsApp for banking may simplify the automation of use cases, from discovery and onboarding to conversions and re-engagement, enabling banks to provide customers with more convenient and superior service.
What Are The Benefits Of Using Whatsapp For Banking Services?
- Reach With over 2 billion users, WhatsApp is becoming the primary communication tool for an increasing number of clients. Customers may now interact with companies on a channel that they frequently use to talk to friends and family.
- Conversational banking Conversational banking is made possible by WhatsApp, which is one of its greatest features. In order to create end-to-end journeys, the channel makes it simple to implement banking chatbots, use engaging message kinds, and implement a variety of use cases. Conversational banking on WhatsApp provides a convenient means of connecting with banks, which is particularly appealing to younger generations.
- Security Customers and banks alike must prioritize secure banking. Every WhatsApp message is encrypted using the Signal protocol. This indicates that the communication is encrypted before it ever leaves the sender's device and is transmitted safely to its intended location. Businesses can send critical goods or information using WhatsApp with confidence since Signal protocol encryption safeguards the confidentiality of your messages. Choosing the right WhatsApp provider will help keep your messages compliant with local laws and regulations and secure.
- Agent productivity Live agents can concentrate on answering complicated and urgent inquiries by automating messages on WhatsApp. By linking your WhatsApp channel to a cloud contact center, you can also give your agents contextual information about each client, which will help them avoid repeating inquiries and expedite the resolution process.
- A Number of entry points. Make sure that your customers are aware that they may communicate with their bank using WhatsApp. Increasing the number of entry points from various sources to your WhatsApp channel can aid in the promotion of your service and entice more users to utilize WhatsApp for customer service.
What Can You Do With Whatsapp Banking?
- Promotional messages Send a promotional message in the same chat to encourage a potential customer who has contacted you over WhatsApp but hasn't opened an account to become a customer. One of the best ways to jumpstart the conversation and get them moving swiftly toward onboarding is with a time-sensitive incentive.
- Reminder of payment due Send a polite reminder via WhatsApp to customers who missed the deadline to pay their bills, and make sure they receive the message. Due to your assistance in helping consumers keep on top of their payments and prevent interest charges, this can significantly help to increase customer satisfaction rates.
- OTPs Send customers secured one-time passwords (OTP) by using WhatsApp. Banks require the authentication of their customers' identities; delivering these messages over WhatsApp might expedite the procedure and increase user visibility rates.
- Delivery of cards Ensure a smooth delivery or pickup of cards. Use call-to-action buttons to get in touch with consumers in case they have any issues or problems, and keep them informed about the status of their card delivery on WhatsApp to maintain active engagement.
- OTPs Send customers secured one-time passwords (OTP) by using WhatsApp. Banks require the authentication of their customers' identities; delivering these messages over WhatsApp might expedite the procedure and increase user visibility rates.
- Making an appointment Make fewer needless phone calls to your support agents and branches by using WhatsApp to schedule appointments. Customers are now able to schedule a visit to your branch or a call with a consultant at a time that is convenient for them.
- Activation of cards You can walk customers through a simple bank card activation procedure by using call-to-action buttons. WhatsApp provides a safe and quick activation process for your clients by acting as a secure route for sending verification codes.
- Suspicious transactions Alert customers instantly to any transactional changes made to their account. With the knowledge that they can monitor their own accounts and contact assistance if they discover transactions they did not conduct, your customers can stay informed and feel at ease thanks to these automated warnings.
- survey of satisfaction Send a satisfaction survey to consumers after interacting with them on WhatsApp to gain immediate feedback. In order to maintain your high standard of customer service while optimizing and improving your WhatsApp service, sending surveys is a wonderful approach to get additional information. The best thing is that users can finish it within the WhatsApp chat without ever leaving it.
- Create new accounts automatically Simplify the procedure for customers wishing to apply for a credit card or open a new savings account over WhatsApp, eliminating the need for them to visit a bank or wait on hold for an agent.
Integrating the WhatsApp Business Platform API into a bank's existing systems provides a seamless way to enhance customer interactions and streamline various banking processes. By leveraging WhatsApp's extensive features, banks can automate communications, deploy chatbots, and design customized communication flows to support customers throughout their journey, from account creation to onboarding. This integration ensures that banks can maintain access to their current applications such as CRMs, call centers, and customer data platforms, thereby enhancing efficiency and customer satisfaction. Additionally, utilizing a comprehensive solution like the Mkonnect platform can further enhance this integration by providing a unified interface for managing customer interactions, ensuring a cohesive and efficient customer experience.
