Customers of financial enterprises expect unparalleled security and convenience. With more than 9 in 10 Millennials now owning smartphones and nearly 20 percent of those users accessing the internet exclusively with smartphones, SMS becomes a critical way to do business. Next-generation CPaaS solutions allow deposits, balance requests, and other transactions to be performed with voice or SMS with the added security of two-factor authentication (2FA).
With 2FA, financial institutions can protect the identity of users from up to 66 percent of targeted attacks, 99 percent of bulk phishing attacks, and 100 percent of automated bots. for a variety of applications.
The speed and convenience of SMS can improve communication for a variety of organizations. Financial institutions can allow customers to contact representatives directly through communications platforms like Cisco UC-One or Webex Teams.
Financial organizations regularly deploy IVR for customer care, balance inquiries, and voice transactions. Artificial intelligence (AI) and natural language processing (NLP) can make it easier and more convenient for users to conduct business.
