MABS Gears up 3 Participating Banks for SMS Mobile Phone Banking Alerts Services Rollout

Continuing to build on the success of its mobile phone banking initiative, MABS promotes the use of SMS (short message service) or Text Message Alerts Service via the mobile phones of rural bank clients. Through these services, banks will be able to send reminders, greetings and other notices straight to their clients’ mobile phones.
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On July 27-31, 2009 MABS conducted a series of trainings for its participating banks – 1st Valley Bank in Cagayan de Oro City, Cantilan Bank in Cantilan, Surigao del Sur, and Green Bank in Butuan City – on using the SMS Alerts service. The MABS technical team trained 9 representatives from 1st Valley Bank, 12 from Cantilan Bank and 11 from Green Bank on how to send and manage SMS alerts for various bank services to their registered clients. The SMS Mobile Phone Banking Services include loan approval notifications, loan payment and commitment savings reminders, time deposit notifications, personalized greetings, promotional offers, marketing campaigns, client feedback, and other important informational messages.
Made possible through MABS’ partnership with service provider MyClick Technologies, Inc., this service makes use of a web-based access and a shared environment technology to send and receive SMS to and from bank clients. Through this service, rural banks would be able to reach their clients at a very low cost and is available through all three mobile networks. According to the initial results of the pilot test that MABS and Yale University’s Innovation for Poverty Action (IPA) team conducted with two participating banks, sending reminders through SMS/Text is a potentially effective tool to reach out to existing and potential clients and improve clients’ repayment rate as well as remind them to make contributions to their savings accounts.

After the training, trained banks will be rolling out the SMS Alerts Service, targeting all clients who register with the banks to receive SMS Mobile Phone Banking Alerts.