Monitise Adds Two-Way Alert Notifications

What's Next In Payments®
4:00 PM EST March 17th, 2014

Why limit banking alerts to one-way notifications with customers? A new service from Monitise PLC gives customers a chance to communicate back – right away. 

Monitise today announced the launch of Alerting+, a next generation consumer-alerting and engagement service. Financial institutions using the service can evolve alerts from one-way notification to real-time two-way conversations. As Monitise sees it, the service can build trust and unlock new opportunities for revenue generation, customer acquisition and retention, fraud reduction, risk management and customer engagement.

“As a bank, we have an opportunity to leverage Monitise’s Alerting+ capabilities to play a more prominent role as a trusted advisor to our customers,” Greg Jacobi, senior vice president at Webster Bank, noted in Monitise’s product announcement. “Mobile banking is quickly becoming a tool of mass empowerment and we want to reach our customers where they are, offering them vital communications about their bank account and finances.”

Alerting+ gives Webster an ability to connect with our customers and communicate with them in real time, developing two-way conversations that resolve critical account issues and help them manage their money more effectively, he said.

Communications options

Any financial institution may use Alerting+, regardless of their core mobile-banking platform, to enhance enterprise wide messaging with a host of capabilities, such as multi-step Conversational Alerts, Alert Aggregation, Omni-Channel Message Delivery, Alert Authoring and Cross Channel Consumer Preference Management, according to Monitise. They also can communicate with and engage their customers through SMS, e-mail and push notifications.

Banks and credit unions can use two-way and multi-step alerts available with Alerting+ to advise customers if there’s any unusual transaction activity or potential fraudulent transactions and offer the ability to take immediate action on their account. With more advanced business processes integrated into Alerting+, institutions can design relevant cross-sell and upsell offers, opening up new revenue generation opportunities.

Mobile is becoming more than just another communication channel for financial institutions, Lisa Stanton, president of Americas at Monitise, noted in the product announcement. “Alerting+ creates new opportunities for financial institutions to connect with their customers and help them manage their money more effectively based on the immediacy and relevance of alerts,” she said. “This evolves alerting to the next level of consumer interaction, allowing [institutions] to connect with their customers and build more robust relationships.”

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