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How is the WhatsApp customer service platform helping financial institutions?

by Afaque Ghumro

WhatsApp requires no introduction. Millions of people across the world use this app. And it is really good as it has all the favorable features. Can you deny my claim? People consider it as one of the best messaging platforms out there. Even though WhatsApp comes under the subtitle of friendly messaging, many organizations have started using it as a platform for offering customer service- a renowned platform among customer service chatbots. Isn’t it?  One can use it to build strong relationships with consumers and offer support. 

WhatsApp is a cost-effective platform that can help institutions bloom in the market. 

Currently, WhatsApp business is considered as an incredible platform to offer customer service. Whether customers wish to connect or companies need to send reminders, one can do it quickly and effectively here. Thanks to the hi-tech features of WhatsApp Business. 

 Life in financial institutions is getting challenging. Financial services are turning digital, thanks to the latest technology. With everything turning digital, customers expect more with the growing population and their demand for a smooth user experience. Many organizations still need help when it comes to offering seamless customer support. In the competitive world, everything we do is less and more and more effort is essential at every step. The need to stay in the market is increasing, and only the smart ones reach the top. We will discuss how WhatsApp customer service is helping financial institutions. You read it correctly! It is highly beneficial at every step in this field.

Let us talk about how WhatsApp is suited to be a perfect customer service platform for financial institutions. 

  1. It is a secure platform- Most of the public is always worried about the security of their money and how cautious the organization is. One of the amazing things about WhatsApp is its security features. It is truly phenomenal to see an application care so much about its users. Privacy is always a concern for all, but while using this app, all one can do is relax. No user data is stored, all the chats remain confidential, and they never share any information with third-party apps. Financial organizations can truly utilize this platform to offer safety to their customers. When we talk about finance, there is nothing above security. 
  2. It is an effective platform that improves productivity– Whether making payments online or getting updates, banking over WhatsApp is more efficient. It offers a rich media experience, supports various formats, and makes conversation enjoyable. Customers can ask questions and get quick automated responses. Queries are resolved faster than usual. Among the many features of WhatsApp, automated responses and Chatbots are the best. They are available round the clock and offer fast replies. With the emergence of WhatsApp API, the response rates have become faster and better. 
  3. Support service is available 24/7- Imagine an emergency where your client had to wait 12 hours. With the growing population on WhatsApp and, in general, handling queries in bulk takes work. Be it on Gmail, WhatsApp, or people on the call. The pressure drops onto employees. However, WhatsApp has various features like a chatbot, automated reply, broadcasting, catalog, voice, video call, and more. These features save time and can help resolve multiple queries quickly. Today’s world revolves around convenience. If you are not available after business hours, your Chatbot can be. You would not want your clients to choose your competitor. It is all about making a life of your clients more comfortable and so as yours. 
  4. You can send personalized updates to your clients- People love being catered. With the help of WhatsApp, financial institutions can now send updates, be it for transactions, card promotions, or sales. Keeping up with transactions and managing bank accounts can be difficult, especially with fraudsters running their businesses online now. But one can avoid this if you constantly receive updates to your bank account. And for this task, automated responses are considered the best. One can receive messages about the deposits, updates, withdrawals, and more. This app can do everything if you miss a payment or want reminders. People like WhatsApp as it is secure and simple to use.
  5. Real-time conversations with organizations – Waiting on the site for hours to see the Chatbot respond is not fun or helpful. Customers can interact with human agents on the phone and connect with AI chatbots after hours. WhatsApp business offers flexibility to connect with consumers and make conversations more meaningful. Institutions can build close relationships with their consumers and keep them in for the long run. One can use proactive messages and multimedia in the content, making the organization seem approachable.
  6. Safe transactions – Security is a concern for both individuals and financial institutions. But as already discussed, WhatsApp is a safe platform, not just for conversations but also when it comes to transactions. Customers can now securely transfer money, pay bills, interact, and more on WhatsApp. 
  7. WhatsApp is cost-effective – While reading the above features, many must have thought that this app might be expensive or not affordable. But I must disregard all these accusations. WhatsApp is free to use, the transactions are cost-effective, and there are no operational costs. 

To sum up

WhatsApp is an interesting messaging app with a complete package of Hi-Tech features. These features have made it one of the best platforms for customer support services. One can use them for messaging but more. You can share all types of multimedia, location, voice/video calling, and more. Its user base continuously grows, and WhatsApp is incomparable to any other application. Whether you want transaction updates, payment reminders, or discount alerts, WhatsApp is the best. The financial sector is trying to adopt WhatsApp into their businesses as it will offer a more tailored, secure, and effective customer experience. Financial organizations are starting to recognize the importance of platforms like WhatsApp.  

The continuous updates and latest features make it more convenient and fun. Many institutions need flexibility, and they can do so by using WhatsApp. The customer support teams can reduce extra load, increase response time, and convert leads into actual customers. This is why WhatsApp is considered a fantastic platform for financial institutions to reach their customers. So, what’s up on your WhatsApp?

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