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The newness of technology along with existing features of SMS, RCS is a new channel to gain traction in the worldwide market with a notable number of consumers already using its functions.<br>
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What makes RCS Business Messaging a hit for the banking industry?
What makes RCS Business Messaging a hit for the banking industry? With a huge number of active user's base, RCS Business Messaging foresees a market worth of USD$74 billion by 2021. The newness of technology along with existing features of SMS, RCS is a new channel to gain traction in the worldwide market with a notable number of consumers already using its functions.
RCS Business Messaging is designed to provide banks with rich features as follows: • Branded and verified business messaging • Payments • Request for opening a new account • Bank & ATM Locator • Find IFSC code • Request for Cheque Book, Credit Card, Debit Card
Customer Support • Apply for loan • Apply for insurance • Bill Payments • Integration with apps like calendar and maps • High volume support with rich card carousels in a single message • High-level authentication
Adding on to the list above, RCS Business Messaging comes with a bucket load of functionalities curated for banks with data such as deep-linking for web-based campaigns and/or emails. It also encompasses features like read recipients, delivery receipts, on-screen event tracking, and customized information of customers on the basis of their responses to a message.
Drilling down to customer behavior and responses using RCS helps banks in fetching data to optimize their campaigns. The research conducted by GSMA suggests that consumers are highly responsive to a well-structured and effectively designed RCS campaigns. Other than the above-mentioned merits, one of the most cardinal edges is its cost-effectiveness and eliminated need of investment in stand-alone applications.