Clickatell, messaging provider for financial services, has been selected by Fortis Microfinance Bank to provide SMS Receipts™ to thousands of retail banking customers throughout Nigeria. Currently sending ?10,000 text messages per month, the bank sees tremendous growth potential as existing customers sign up and new customers look for compelling text banking services via mobile. As customers opt-in, the bank automatically sends text messages to registered mobile phone numbers immediately when transactions occur. Mobile text banking provides real time visibility to manage financial affairs, reduce fraud, lower call center costs, increase revenue potential, as well as offer under- and un-banked citizens the ability to bank where the opportunity hadn't existed.
The World Bank reports that currently over 80 million people in developing countries are served by microfinance banks and confirms that mobile access to a range of services including savings, loans, and money transfers enables poor and rural families to invest in business opportunities, better nutrition, improved living conditions, and the health and education of their children. Microfinance banks are helping to achieve these social and economic objectives. Fortis provides banking products like credit and financing to lower income earners throughout Nigeria with a specific focus on developing and assisting start-up entrepreneurs and traders with the banking services they need to get started and sustain their business.
"Only about 26 percent of people around the world have access to formal financial services -- microfinance banks like Fortis have figured out how to offer mobile services to help hard working business owners across regions that may not have access to proper banking services. Working with mobile network operators and banks, Clickatell is poised to help bridge the gap and offer the mobile financial solutions to leading banks like Fortis and others to help advance this cause," said Pieter de Villiers, Clickatell CEO.
Fortis provides local entrepreneurs, general traders, under-banked, and the economically disadvantaged with a broad range of financial services including deposits, credit, money transfers, savings, and insurance. Sebagen Henry Noboh, Corporate Communications Officer for Fortis MFB Nigeria commented, "We've made it easier for customers to bank with us and see tremendous growth opportunities to increase the number of messages, customers who sign up as well as offer additional SMS banking services. Since launching, we've enhanced our trustworthiness with customers, who receive SMS alerts regardless of time or location. Clickatell also helped us achieve operational efficiency within the bank and staff satisfaction is high -- all important factors, especially in today's economic climate."