Banking and Finance

How Soprano helps to Increase up to a 200% in Loan Application Responses

Automated Voice Messaging
banking-customer-loyalty
Challenges

How to increase response rates with loan applicants?

Response rates for promotional mortgage loans were stagnated at just 13%. Because of that, market share started to decline as customers drifted elsewhere for the services and experiences they were looking for. The bank’s competitors were doing a considerably better job communicating with loan applicants about where they were in the process.

The Solution

Adding SMS to speed up the loan application process

  • The bank added SMS to speed up the loan application process and improve the customer experience.
  • The bank integrated its in-house loan application software with mobile reminders.
  • Bank employees received an automated text message of new loan application submissions.
  • Externally, customers were informed at every step in the process.
banking-digitase-engage
map dots 600px
The Result

 Response rates seen an improvement of 200%

Response rates for promotional loans jumped from 13% to 40% – an astounding improvement of 200%. Adding an SMS channel to the bank’s digital communication strategy was a simple, but critical step in growing the bank’s customer base and vastly improving the customer experience.

What are you waiting to discover more about this use case?

With over 27 years of providing enterprise-grade mobile messaging, Soprano is trusted by organizations around the world. Talk with an expert now filling the following form

Z

We’ll find the right solution for you.

Z

Obtain helpful resources about this industry.

stats soprano en

Soprano Connect’s Customers

Soprano Design have more than 4500 customers globally across APAC, EMEA, LATAM and the US.

Our customers range from large corporations to independent companies across every industry possible including Government, Healthcare, Finance, Education, Retail, Manufacturing and Logistics.

Soprano Connect is a leading communications platform-as-a-service (CPaaS) credited by IDC as a “Major Player” in CPaaS and by 451 Research as a “CPaaS Vendor to Watch” in 2021.

Soprano Connect is a leading global CPaaS solution, proudly featured by

proudly feature logos 536px min

We have more use cases available!

soprano design customer experience home

Appointment and reminders

  • Appointment confirmations
  • Scheduling system communications
  • Appointment reminders
  • Appointment amendments or alterations

Security and Compliance

  • Two-factor authentication
  • Secure communication platform
  • Sending and receiving sensitive documents
  • Maintaining compliance and privacy controls

Critical messaging

  • Crisis management
  • Worker safety
  • Patient notifications
  • Banking security notifications

Omnichannel marketing messaging

  • CRM updates
  • Promotional marketing messaging
  • Lead nurturing
  • Sales outreach

Updates and confirmations

  • Dispatch and delivery updates and confirmations
  • Booking confirmations
  • Contact centre communication
  • Billing confirmations

Education and awareness

  • Student engagement
  • Charity outreach
  • Government awareness programmes
  • Surveys

Remote work solutions

  • Remote work communication
  • Workplace transformation
  • Employee satisfaction and wellbeing
  • Internal staff communication tools

Didn't find the use case for your industry?

Our expert team guides our clients in multiple use cases and empowers it with other mobile communication channels such as SMS, RCS, and email applications.

Desi, our AI chatbot can help you! Click here and say hello!