Financial Services

How SMS makes the financial sector more efficient and safer

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Cost savings and extra security

By using SMS thousands of euro’s are saved yearly and many systems are more secure against unauthorised access. Financial institutions use SMS for example to send confirmation codes, authentication, payment reminders and notifications about payment statuses

The confirmation code for the registration is: 708111. This code is only valid for 15 minutes. Yours sincerely, The Bank.

Cost savings and extra security

By using SMS thousands of euro’s are saved yearly and many systems are more secure against unauthorised access. Financial institutions use SMS for example to send TAN codes, authentication, payment reminders and notifications about payment statuses

Number of orders: 4. Total amount of transfers: EUR 900,66. Issue number: 85. confirmation code: 885963.

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NUMBER OF COLLABORATIONS

138

WITH BANKS

NUMBER OF COLLABORATIONS

173

WITH INSURANCE COMPANIES

Attention value SMS

Banks and insurers prefer SMS over e-mail, because the attention value of SMS is almost 5 times as high. 98% of all SMS messages are read directly within 5 minutes.

Low costs

A big advantage is that the costs are very low in comparison to traditional media, such as, for example, conducting a telephone call or sending a letter.

Today 15:30
Dear customer, we ask you to transfer the outstanding amount of EUR 143.45. Your insurance company. Please indicate your customer number.

SMS applications in the financial sector

In addition to providing authentication by SMS, many financial service providers make use of SMS services for Machine-to-Machine communication, payment reminders and debt collection and to report the statuses on requests and claims.

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Standard Connections

We are connected to Multi Factor Authentication systems, such as RSA, SafeNet, SMS PASSCODE, Securen Envoy and Sonic Wall and CRM-systems such as Selligent, SAS and SAP.

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You can use our SMS services within minutes. Our SMS Gateway can also be connected to other systems by using of our SMS API.

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TAN-codes by SMS

TAN-codes by SMS

Banks send TAN codes via our SMS Gateway to their customers using the bank for Internet Banking. The customer goes to the website of the bank, enters their mobile phone number and then receives an automated SMS message via a secure connection with a code in the SMS. This code provides access to the secure environment of the Internet Banking. An additional benefit for the customer and for the bank is the fact that physical tokens, such as an e-dentifier are not needed.

Number of transactions: 4. Total amount of transfers EUR 900.66. Issue number 85. TAN code 885 963.

Authentication by SMS

Authentication by SMS

90% of the passwords that are created by internet users, are susceptible to hackers. The use of inadequate passwords leads to a global loss of billions of euro’s, mainly for the financial world. Therefore SMS authentication is increasingly used by companies to give employees access to an online home workspace or corporate network. The employee goes to the website of their company and fills in their mobile number. An automated SMS message, with a code, will be sent over a secure connection to their mobile phone. This code provides access to the secure environment of ​​the company. This service checks whether the user actually is who he or she claims to be. Apart from the fact that this considerably improves the security of corporate networks and individual online workspaces, SMS authentication also ensures cost savings as physical tokens, for example a smart card, can be replaced by a One Time Password via SMS.

The confirmation code for registration is: 70811. This code is only valid for 15 minutes. Yours sincerely, The Bank.

Machine-to-Machine communication via SMS

Machine-to-Machine communication via SMS

Spryng provides banks with a fully automated monitoring system which by means of sending and receiving SMS messages 24 hours a day monitors Internet Banking. Via our SMS Gateway SMS messages with virtual payment orders are sent to the Internet Banking system from several servers 24 hours a day, 7 days a week. The system responds by sending an SMS message to a provided by Spryng and hosted Virtual Mobile Number (Virtual Number). This process shows exactly which actions have been made, and that a usual customer would perform when executing a payment order via Internet Banking. This allows for defaults to be recognised directly and the bank can respond to them appropriately.

Total amount iDEAL payment EUR 0,01. Serial number 155. TAN code 84445685.

Proactively inform customers about the status of their application by SMS

Proactively inform customers about the status of their application by SMS

At a large insurance company it was proven that in practice every week more than 4000 consumers contacted the helpdesk to gain information on their submitted claim and/or their insurance application. The number of contact moments decreased by 50% by proactively sending SMS messages via Spryng’s SMS Gateway with information regarding the status of the application. This allows for massive cost savings as the customer care is no longer overladen.

Dear Mr. Smith, We have processed your request for Car Insurance. You will receive a written confirmation within a few days. Yours Sincerely.

Activation of insurance by SMS

Activation of insurance by SMS

Spryng’s SMS Gateway is used to remind customers via SMS to activate their travel insurance. This is to avoid unpleasant surprises during the holiday or on hindsight.

Dear Mr. Taylor, Our records show that your travel insurance is due to expire. Could you inform us by e-mail regarding an extension? Thanks in advance.

Direct debits and payment reminders by SMS

Direct debits and payment reminders by SMS

Spryng’s SMS gateway is also widely used in the debt collection industry to remind people of their outstanding payments. In practice it appears to be much more effective than sending letters or e-mails.

Dear Customer, we request you to kindly pay the outstanding amount of EUR 143.45 immediately to account 733 953 710 att. Your Insurance Company. Please include your customer number 11249.