OpenMarket Releases New Infographic Demonstrating Massive Opportunity for Financial Institutions to Engage with Target Consumers via SMS

New Infographic with Javelin Educates Financial Institutions on the Most Profitable, Tech-Savvy Customer Segments to Interact with Through Text Messaging

OpenMarket, a leader in enterprise mobile engagement, in conjunction with research and advisory firm Javelin, today released an infographic, “SMS Engages Your Most Profitable Customers.” It informs financial institutions (FIs) how to leverage smart and interactive engagement strategies to increase brand affinity with high-touch customers. Based on research involving over 100 demographic, behavioral, and attitudinal variables, Javelin identified two of the most important customer segments demonstrating how Americans will bank, pay, shop, save and invest in the future. The first segment, coined Moneyhawks® by Javelin, is considered the most profitable yet demanding customer group, accounting for 13 percent of the population. The second segment, Emergents, is punctuated by a mobile-first mindset, accounts for 35 percent of the population, and will increase financial product ownership in the next 5-10 years, making them an important demographic for FIs to target. Both segments are seen as tech-savvy, typically leveraging mobile devices to interact with preferred FIs.

There’s no question that financial institutions must evolve in today’s mobile-first era as 97 percent of Moneyhawks® and 93 percent of Emergents own smartphones, according to Javelin. What’s more, 90 percent of text messages are read within three minutes of receipt[1]. In addition, millennials prefer texting over voice interactions and are 40 times more likely to take action when sent a text message[2] – making SMS the most ubiquitous and effective customer engagement channel. To cash in, FIs are leveraging new SMS-centric capabilities and features to bring mobile-first initiatives into the next phase of personal banking and financial security. The introduction of mobile messaging to both Moneyhawks® and Emergents will further automate self-service and propel financial institutions’ ability to proactively initiate conversations, ensure greater customer satisfaction, improve personal security posture, and evoke trust – all with the goal that consumers will engage with their FI on their preferred mobile communications channel when seeking a new loan or product.

“Mobile not only is transforming the consumer’s transactional relationship, but it also is the key to redefining personal banking for the most profitable and demanding customers such as the Moneyhawks® and Emergents,” said Mark Schwanhausser, Director of Omnichannel Financial Services for Javelin. “SMS is a powerful communications tool because it is part of everyday life, is available on every mobile phone, and triggers immediate responses. Just as important, it makes customer engagement a two-way channel that empowers consumers to initiate contact with their financial institutions, and not just react.”

“In a mobile-first era, connected consumers have come to expect and welcome SMS-based communications with preferred brands and companies, and the expectation for financial institutions is no different,” said Jay Emmet, General Manager for OpenMarket. “As the research shows, consumers who have a negative customer experience with a financial institution have no problem walking out the door and going elsewhere. However, SMS provides financial institutions with an optimal channel to interact with their customers throughout the entire journey, which ultimately helps build brand affinity and long-term loyalty.”

The infographic points to Moneyhawks® and Emergents as the target demographic and at the forefront for any financial institution’s mobile-first initiative, including:

  • 55 percent of Moneyhawks® and 35 percent of Emergents prefer to receive SMS alerts for bank activity compared to 27 percent of the general US population.
  • 35 percent of Moneyhawks® and 30 percent of Emergents prefer to receive fraud alerts through SMS versus 23 percent of the US population.

OpenMarket and its cloud-based mobile messaging solutions support over 400 enterprises globally, including four of the top 10 most respected global brands. Its Mobile Engagement Platform, along with chat bots, allows global enterprises to easily create and deploy smart, interactive mobile engagement services globally with connectivity to over 200 countries. Enterprises can access the platform via a web-based GUI or directly via service APIs. The platform supports features such as personalization, scheduling, logic and decisioning, list management, user segmentation, and reporting. By using OpenMarket’s platform, enterprises are able to mobilize operational processes, optimize internal and external communications, improve customer experiences, drive brand awareness, and generate new revenue.

OpenMarket recently launched its Global SMS API, which enables enterprises to streamline and expand their global SMS messaging programs. Enterprises can now create and easily manage multiple message originators, including short codes, text-enabled toll-free and local numbers, and alphanumeric codes via one trusted API. Bundled into this new API are powerful features that help reduce the technical complexity of sending SMS messages, increase the successful delivery of messages worldwide, and ultimately improve consumers’ SMS experiences.

About OpenMarket
OpenMarket, a division of Amdocs, helps enterprises use mobile to transform their business. OpenMarket provides mobile engagement solutions for organizations to optimize their operations and enhance relationships with their customers and employees. Major enterprises choose OpenMarket for our domain expertise, service flexibility, demonstrated performance and reliability, global scale, and corporate maturity. We provide smart, interactive connectivity to more than 200 countries, enabling businesses to engage with nearly every mobile user around the world. Our clients trust us to power their mobile business. For more information, visit www.openmarket.com.

About Amdocs
Amdocs is the market leader in customer experience software solutions and services for the world’s largest communications, entertainment and media service providers. Its portfolio powers The New World of Customer Experience™, where a wide array of innovative and personalized services is delivered seamlessly to end users, regardless of device or network. For more than 30 years, Amdocs solutions, which include BSS, OSS, network control and optimization, coupled with professional and managed services, have accelerated business value for its customers by streamlining complex operating environments, reducing costs and speeding time to market for new products and services.  Amdocs and its more than 24,000 employees serve customers in over 90 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $3.6 billion in fiscal 2015.

Amdocs: Embrace Challenge, Experience Success.

For more information, visit Amdocs at www.amdocs.com.

Amdocs’ Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs’ growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs’ ability to grow in the business markets that it serves, Amdocs’ ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company’s products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company’s filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2015 filed on December 10, 2015 and our quarterly 6-K form furnished on February 16, 2016.

Moneyhawks® is a registered trademark of GA Javelin LLC, dba Javelin Strategy & Research.

Media Contact
Kristin Scheidegger
Barokas PR
Tel: +1-206-264-8220
Email: openmarket@barokas.com

[1] “Why Businesses Can’t Ignore SMS,” Venture Beat, March 27, 2015.
[2] “Texting Drives Millennials to Action,” Mobile Marketer, August 1, 2014.