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Loan processing speed, application abandonment reduction, expired application rescues, collection prods including repayment and delinquency, and contact center service – those are a few areas of credit union business where messaging can help spur member activity and interaction.

The Bozeman, Mont.-based Quiq, which provides Software-as-a-Service-based messaging software solutions, confirmed that innovative, market-leading brands are currently evaluating or implementing messaging, creating a domino effect that’s driving adoption across industries. In many cases, consumer demand is driving SMS and MMS adoption, as customer satisfaction scores are the highest for messaging of all the channels. The thought process is once consumers interact with a company via messaging, they start to demand and expect the same convenience from other brands and industries, including financial services.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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