The 2010s saw the meteoric rise of instant messaging on social media platforms. The active user base on channels globally such as WhatsApp and WeChat are massive – data company Statista reported that WhatsApp has more than 2 billion monthly active users as of June 2021.
With the change in consumer behaviour and communication patterns, the case for financial institutions to leverage these platforms cannot be ignored, especially when reaching out to the younger, more tech-savvy customers.
However, the speed, convenience and ease of use that make these channels highly attractive to the modern user, ironically, are also the same reasons that are making financial institutions cautious.
In this article, we identify the fundamental questions that can shape your bank’s instant messaging strategy.
At Synpulse we have developed a four-pronged strategy that provides a holistic approach to operationalising instant messaging channels for banking purposes.
The charm of instant messaging on social media platforms is only growing and the advantages of connecting with your clients on their preferred channels will unlock opportunities, from more effective communication channels to higher client engagement and retention of customer trust. With this approach, we continue to help our clients unlock windfall gains. If you would like to know more, reach out to us!