How Can Banks Benefit From WhatsApp Business Solution

How Can Banks Benefit From WhatsApp Business Solution

WhatsApp is a widely used social networking platform, this is evident by its 1.6 Billion Active users across the world. WhatsApp has become this popular because of the ease of messaging it offers. Businesses have noticed WhatsApp reach and how it can help their businesses, they are now constantly trying ways of using WhatsApp’s reach to their advantage. One sector that is keen to do so is the Banking sector. Banks are one of the most important elements of today’s world and they are surely someone who can benefit from the extended reach and convenience.

 

This need to utilise WhatsApp’s user base for businesses gave birth to WhatsApp business API, this feature allows applications to connect to WhatsApp to establish a communication network. This technology allows businesses to utilise WhatsApp’s user base to their advantage. WhatsApp API offers many ways to utilise its functionality, the user can either choose a simple WhatsApp chatbot or can fully integrate the business operations with the help of WhatsApp API.

Difference Between WhatsApp Chatbot and WhatsApp business API

WhatsApp Chatbot:

WhatsApp Chatbot is one form of WhatsApp API, it enables businesses to offer their customers a better experience. It is apt for answering FAQs and simple queries and aids businesses by providing customer support post working hours. It also helps by increasing business reach, as they can now provide services for multiple time zones without the need for additional staff.

WhatsApp Business API:

WhatsApp Business API is the full-fledged form of WhatsApp API integration. It helps businesses by providing customer support expanding beyond just answering FAQs. WhatsApp business API includes a WhatsApp chatbot and offers functionality that makes the user experience more convenient. It provides the consumers with additional features like updates on payment, order shipping, availability and others.

Benefits of using  WhatsApp Business Solution for Banks

We know that Banks can use the extended reach and convenience that WhatsApp has to offer. Below are a few benefits of using  WhatsApp business API:

  1. Transactional Update:
    Banks can provide transactional updates to customers post every transaction or user preference. This feature is already available in the form of SMS but WhatsApp notifications make the service more convenient and open it up for more customers.

  2. Informational Update:
    WhatsApp API enables banks to provide additional services to customers regarding availability, ATM information, service enquiry etc. It also adds the additional capability of sending more interactive media like maps for nearest locations, links and others compared to SMS consisting of only text.
     

  3. Promotional Update:
    WhatsApp API enables banks to send promotional updates and offers to their customers preferred medium/platform of communication i.e. WhatsApp. This increases the likelihood of the customers actually going through the messages due to the convenience of WhatsApp.


These were some benefits of using WhatsApp business API for Banks, these benefits can be easily availed by banks by using a WhatsApp business solution provider. The best WhatsApp business solution provider in the current market is mTalkz. mTalkz is a communication solution provider that provides services ranging from RCS messaging to Marketing information and many others. They also provide the best WhatsApp business API and WhatsApp chatbot services at attractive rates, with a free demo and 24x7 customer support. Visit their official website for more information like testimonials and pricing details.


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