During 2010, the SMS banking traffic transacted by the software infrastructure vendor clients grew 60% in Spain and around 250% in Latin America, reaching the amount of 200 million of messages with a financial profile (account balance reportings, successful or un-successful execution of standing orders, large value withdrawals on an account, One-time passwords, etc,..).
The figures, extracted from the annual comparison that Latinia performs among its main clients, reveals the remarkable increase of use of SMS between financial entities and their customers.
The growth comes in both geographic areas from increasing elements of the installed base: more clients and a greater and more creative use of platforms in exploitation (with offerings of up to 50 different services), as declared by Latinia´s marketing department.
The company values the growth in the Spanish market as an evidence of the interest and convenience of the service provided by the financial institutions, although it is a mature business practice for a majority of Spanish banking consumers, where first initiatives appeared almost a decade ago.
The increase of use in Spain is mainly based on SMS services that confirm operations on the client side toward their bank as a result of their subscription to an alert subscription service. The bank proposes the operation and the customer validates it by returning a confirmation to the message remitted by the financial institution.
Latinia confirms this trend as a growth category, not as an anecdote, becoming this conclusion more evident with the overwhelming logic and scale of large numbers.
The figures for Latin America show a fast but not surprising adoption of this pattern, that follows a parallel performance of the business in the continent.
“The whole LatAm region is growing in all the basic or universal banking services, with a special mention of services that substitute the firmly established token by acting as a security communication solution for operations with the bank”, says Frances Pérez, business manager at Latinia.
