Social Media Banking
In the current age of digital communication, Social media can act as a platform for the banks to interact and provide banking services to their customers. Finacus offers a social media banking solution for the banks that integrates with bank’s core systems via FinMobiConnect. The highly robust and secured system helps bank to establish new touch points with the customers and makes banking more fun and easy as well as opens new arenas of cross-selling and customers engagement. The facility comes with high level of availability, scalability and support mechanisms.
Worldwide social network user base is expected to increase to 2.55 billion by 2017. Social media is changing the way financial services industry operates. It is transforming banking relationships in very significant ways. Such high levels of penetration, use and engagement is making banks recognize the opportunities that social media can bring in their business. Social media paves a new way to Financial Inclusion, lower costs and better customer service. It is also critical for Banks to maintain excellence at security, privacy and compliance. At the same time, it gives an opportunity to banks to learn more about a customer and build rapport at transactional and informational touch points.
Transactions Supported
- Customer Registration / Deregistration for Social Media platform
- Account Statements
- Product details
- Reissue of passwords – Net banking etc.
- Request for new Debit Card / Credit Card
- Enrolling for Government schemes
- Bill Payment
- Help and FAQ
- Balance Enquiry
- Fund Transfer
- Cheque Book request
- Change of contact details etc.
- Hot /warm listing or limiting of one’s own Debit cards
- Stop cheque
- Locator
- Easy Integration with the existing system of Bank to provide the intended services
- Highly Robust and Secured system
- Privacy
- Support and operations management for the system
- Compliant with regulatory guidelines of social media platforms
- Easier than logging in any application for trivial banking needs like checking balance and mini statement.
- Cost of accessibility and reach much less compared to stand alone applications.
- Enhances a bank's presence on social media channels.
- Customer can access banking services through social media platforms.
- No requirement of separate applications.
- Efficient Solution for today's youth to interact with the bank.
- Allows customer to make payments through social media platforms.
