The ACCC’s latest Targeting Scams Report has revealed that Australians lost a record $2 billion to scams in 2021. Not surprisingly, investment scams make up a whopping 70%! This is up 169% for the 12 months from 2020 to 2021. Scammers will continue to get more sophisticated, impersonating trusted brands and replicating legitimate emails and phone numbers. All of this leaves customers more and more vulnerable, so is there more you can do, especially if you’re a bank?
One solution is to engage directly with your customers when they are authenticated – inside your apps.
When it’s imperative you connect with your customers, a high trust and secure channel such as in-app messaging is the best way to go. It doesn’t matter whether it’s mobile or web, your app is the securest and easiest way to get your customers to take action.
Like many other customers of banking and finance companies, I do nearly all of my banking online.
Recent research by Roy Morgan showed consumers prefer mobile banking services over other channels. There are clear signs that we all are moving further online. Banks are driving the move away from call centre and branch level service to digital channels. Customers are shifting away from cash to online transactions. However, the gap between financial institutions delivering timely, actionable digital-centric services and customer expectation remains vast.
How can financial institutions become more digital first and align their customer communication strategies to meet customer demands?
Ask yourself – do we make it easy for our customers by proactively contacting them in a trusted, secure channel to help them complete important tasks? Do we provide tips to improve financial wellbeing? Do we prompt customers with nudges for payment approvals or to complete banking tasks? Or do we rely on traditional channels like email and SMS to communicate with our customers to take actions? Perhaps we are using outbound calling to do this, which is expensive, has a low hit rate, and is also part of the scammers arsenal. If that’s the case, does this work for our customers? Is it performing for us?
There is more that financial institutions (any vertical for that matter who has a mobile and/or web app) can do. You can quickly drive meaningful and timely interactions which engage customers and bring them back into the trusted environment of your app. You can do just that by using technology like Atomic.io which creates secure and easy customer journeys through actionable in-app communication.
The results that Atomic.io is driving are staggering.
Adding Atomic.io’s capability into your integrated communication strategy allows you to:
- Quickly and easily communicate to your customers in app, without developers, or needing new app versions to be released
- Strip cost out of your business by removing the burden of development teams
- Get to market quickly with in-app actionable messages
- Reduce call centre burden
- Meet compliance requirements
Customer-centric organisations using Atomic.io are seeing massive uptake by their customers. There is something truly compelling about having a dedicated in-app interactive ‘inbox’ where customers can easily go to get things done. Average read rates of Atomic.io’s Action Cards are a whopping 94%, with an average action rate (a customer completing a task) sitting at 42%. Having customers think twice about interacting with unexpected emails or SMS is another great outcome. I mean, why would customers engage with other channels when they can get everything they need done in the most secure and trusted channel of all… your mobile and logged in web apps.
Atomic.io exists to supercharge customer-centric organisations with clear, purposeful and actionable messages inside your app.
Clients from banks, wealth management providers, fintech organisations, health insurers, FMCG providers, and retailers are all wanting to do more with Atomic.io. If you’re ready to tangibly shift customer behaviour, measure it and drive more growth in your business, then let’s talk.