Trends Report

Forrester Infographic: Notifications In Regulated Industries — Financial Services

December 3rd, 2019

Summary

Three-quarters of financial services, insurance, and healthcare firms are using SMS or push notifications. Firms use push notifications to improve the customer experience and reduce operational costs, such as inbound calls to the contact center, fraud, and appointment no-shows. Messaging remains aspirational for most firms, as the combination of risk-averse compliance teams and restrictive regulations prevents them from sending content in mobile messages that would achieve these goals. Collaborate with your compliance and security team to determine your guardrails for data handling, security controls, and data retention. Even if your firm is heavily compliance driven, it's worth creating small proofs of concept to test low-risk messaging channels. Younger consumers expect this and will increasingly ignore irrelevant messages in antiquated channels.

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