WhatsApp Business API or SMS What’s best for your business ?

WhatsApp Business API

Apart from being the world’s #1 messaging app, WhatsApp is a powerful tool for companies. WhatsApp Business API supports customer communication, customer support, additional sales and more.

SMS has always been the most commonly used medium for commercial communications. However, it is a one-way connection and does not provide much room for interaction. Enter WhatsApp Business APIs!

In this article, we will discuss whatsapp’s advantages via SMS and how businesses benefit from whatsApp’s power of WhatsApp connections via WhatsApp to enhance customer participation, support and business in general.

SMS flaws

In an age of information overload, reading is often negative when there is no element of interaction.

Think about how often you open the SMS app if it’s not to check your password once. Let’s see other problems with SMS connections.

  • Spam and promotional SMS fill in your inbox – it’s everyone’s story. Despite the applicable regulations, we all receive a lot of spam and unrelated messages. This makes it very difficult to find relevant SMS messages.
  • Fraud and SMS phishing are other huge problems. The text message received in the sms app for the average smartphone user cannot easily be validated, and people receive a huge number of text messages from banks and random financial services. This certainly reduces public credibility and opportunities to attract some attention to your texts.
  • Lack of interactive communication – There is no way for the customer to respond or pay attention when sending an SMS. It’s a one-way connection and doesn’t keep up with changing times where interaction plays a big role.
  • Inability to send media files – If a bank wants to send a PDF file to reveal its account to its customers, the only way to do so is to send it via a link. Adds unnecessary steps and makes the process too long.

Texting is not bad. We just aim to be more interactive and engaged in conversations. WhatsApp Business API not only solves the above problems, but also brings additional useful features for banking services to connect with their WhatsApp customers.

WhatsApp Business Abi Banking

Since its inception in 2018, WhatsApp Business API has become one of the most desirable channels of communication for banks and financial companies.

With WhatsApp Business API, the financial sector can not only create interactive customer connectivity on their preferred chat app but also support customer service through real-time account balances, micro-statement reports, recent transaction records, real-time alerts and even payment transfers.

As online sharing has become more conversational, using WhatsApp to facilitate financial updates for customers makes perfect sense.

WhatsApp Business API And SMS

Because it’s the most attractive communication, WhatsApp makes your customers actively interact with other people on their apps. If you broadcast a custom policy or financial offer, people will rarely interact with this message.

Let’s understand how using whatsApp Business API solves the problem faced by SMS connections.

Interact with whatsapp business verification-WhatsApp companies

Who controls the entire service, checks the business to build credibility among business users. The green badge makes it clear that this is the company’s official account – where customers can ask questions of any kind.

Provides additional contact information, such as website, phone number, and other company details. A verified profile means that customers can trust this channel and communicate without any concern about their banking and financial services.

User subscription and spam protection

Fraud and spam protection are critical while serving customers in the financial services sector. User subscription plays an important role in setting up your WhatsApp service.

The end user must first agree to receive financial messages or transaction updates through your WhatsApp Business solution by signing up for them via a third-party channel such as a website, app, email, or physical form.

WhatsApp checks every message a business has started (called message templates) before allowing companies to send it to their customers. This significantly reduces the chances of spam and fraud.

Encryption from start to finish

Security comes first when it comes to financial communications. WhatsApp Business API messages from WATI are encrypted to the device and secured via HTTPS.

This means that financial institutions can share and receive sensitive information in contacts between companies and customers, such as payment requests, addresses, etc.

Interactive messaging and interaction via WhatsApp

Financial institutions can not only share media such as photos, documents, and videos, but can also use list messages and CTA buttons.

List messages – These messages can be used as a list that displays options for specific services.

CTA Messages – These interactive messages can be used to get customers to call or visit your website or in personalized campaigns that are part of WhatsApp Marketing.

Real-time customer support

WhatsApp Business API for Banking and Finance allows multi-agent support to be set up on a single business number on WhatsApp.

WhatsApp Chat Bot and The Messages Nation

You can easily automate answers to FAQs and general questions about loans, credits and transactions by enabling WhatsApp Business WhatsApp Business.

Financial services can also integrate WhatsApp Chat Bot with CRMs or external applications they use to run their business. For example, the user will receive an instant setup message once they have verified their bank details.

It’s quite clear that whatsapp Business API connections rich in features are more attractive than traditional SMS connections. Financial services need to set up their WhatsApp business account in a way that serves their customers with custom messaging.

WhatsApp Chatbot: The Complete Guide for 2022

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