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NYCE Text Message Balance Inquiries
NYCE has introduced a new standard feature of participation in the NYCE Network: text message balance inquiry transactions. These basic text message transactions are an extension of the ability to check primary account balances — commonly available at NYCE Network ATMs — but with no additional fees for mobilization.
Community banks can use the service to offer the trusted, familiar functionality of an ATM balance inquiry transaction right from customers’ mobile phones. The service, powered by Monitise Americas, enables users to access real-time balance information on their primary accounts anywhere, any time.
Using their existing NYCE Network connection — without paying additional fees for a mobile package — community banks can:
- Improve cost-efficiency by migrating simple balance inquiries from other, more costly channels.
- Expand their banking services and offer a competitive differentiator.
- Provide mobile banking capabilities that are accessible to virtually all of their customers, regardless of carrier or type of phone.
- Attract new customers and members, enhance retention, and improve customer satisfaction.
Text message balance inquiries fulfill a common demand among mobile users. In a survey of North American consumers commissioned by Monitise Americas and conducted by MaCorr Research, more than three-fourths of the total respondents said it was important for them to have real-time information regarding their accounts. Of those who said they would like to use their mobile phones for financial services, more than 90 percent stated that they are interested in basic informational capabilities such as checking their account balances on the go.
All of NYCE’s mobile services are fully integrated with the network’s infrastructure, leveraging existing NYCE services such as settlement and reporting. This approach simplifies the provider relationship and allows community banks to offer mobile to their customers without significant investment in new technology infrastructure.
NYCE Payments Network
www.nyce.net