Billing and payments
15 October 2018
Messaging system means faster payments, lower overheads
In this new case study, read how Jacaranda Finance found that by using SMS to remind clients of payments, there has been a 66.6 percent increase in clients making on-time payments.
Jacaranda Finance (Jacaranda) is an Australian-owned financial company which offers a digital online platform for clients to access quick cash whenever and wherever they are. Founded in 2013, the company is proud of its in-house underwriting platform that creates a unique and extremely fast scoring system for prospective borrowers.
With 75 percent of the millennial generation preferring SMS to phone calls, Jacaranda chose SMS messaging for its effectiveness, efficiency, and ability to drive a higher response rate from clients. With just minutes of downtime costing thousands of dollars, Jacaranda turned to SMS Central, part of the MessageMedia Group, for a solution that would prove reliable and accommodate the growing scale of the business.
The benefits of the new system are numerous, in particular, faster customer payments. Jacaranda has found that timely reminders are definitely the most effective way to increase the payment speed of those customers not on direct debit. In fact, Jacaranda has found that by using SMS to remind clients of payments, there has been a 66.6 percent increase in clients making on-time payments.
Other benefits include:
- Faster message delivery
- Improved capacity
- Automation for better efficiency
- A better customer experience
- Higher customer response rate
- Improved accuracy
- Transparency of account spend
You may also like ...
13 January 2019
3 min read
If you depend on customer appointments, our tips will maximise attendance and cut no-shows.Read more
29 November 2018
2 min read
The ability to pay bills without an app really resonated with visitors to our stand at Australian Utility Week.Read more
15 November 2018
3 min read
Find out why your business should be preparing for Rich Communication Services (RCS).Read more