Currently a basic SMS is still the most efficient communications method for non-intrusive, near real-time communications. It generally works, even when the client is travelling or has no access to a local data network.
Coupled with a Mobile App, PUSH messages can be delivered securely and quickly, eliminating the message cost of a traditional SMS. However, for timely reception the client does need to have access to a mobile data network through either roaming or WiFi.
For non-sensitive information email is yet another supported channel for simple, fast and low cost communication. Is typically viewed less promptly than the other channels and requires a data connection.
Still prefer voice? MoneyGuard's automated dialler with built-in Text To Speech (TTS) engine can reach clients when text based communication is not an option or when the mobile number has not been provided. The client can respond via the dial pad on the phone or be connected to an operator.
MoneyGuard is a multi-channel, multi-host solution driven by a flexible business flow. This allows financial institutions to define a range of interactions directly between their cardholders and the bank's transactional systems.
As the number of mobile and smart phones have surged during the past few years, consumers more and more expect their financial institutions to use this channel effectively to communicate with them about their bank account, and transactions. There are now more than 7 billion people as well as mobile phones on the planet
At the same time debit and credit card fraud continues to be an important issue for consumers and issuers alike. As most consumers carry their mobile phone with them nearly all the time, it becomes an effective tool to provide both better customer service as well as combat fraud. The ability for a cardholder to simply respond to a transaction alert to confirm or deny a transaction, provides a significantly more efficient way to catch fraud as well as provide better customer service via a more effective communications channel.
The use of the mobile device as a real time channel to provide alert information and other transactional information becomes a key part of the customer relationship. Spectrum Message Services is offering its MoneyGuard solution in close integration with fraud management and switch systems such as ACI’s Proactive Risk Manager (PRM), and BASE24-eps. The system can also integrate with other host environments and back end systems. Interactions can be via SMS, push alerts, mobile applications, email and IVR to name a few.