SMS Lead-Tech: Transforming FinTech

A crowded and rapidly evolving sector, targeting the most relevant customers in the FinTech industry needs deep-level understanding and expertise.

The Financial Service Industry scene in India is red hot with many FinTech startups setting up, also the shift towards a cashless economy and changing user behaviour has a lot to do with it. Although the needed thrust is there, FinTech startups are still finding it hard to reach out to leads, converting them is even tougher.

The biggest challenge faced by the FinTech industry today is harnessing the lead.

Market – Generate Lead – Convert Lead – Customer – Serve & Engage – Long-Term Customer

The process remains the same, but it is easier said than done!

FinTech companies come from diverse areas, from small-time lending to wealth management, from consumer lending to asset management, from trading to payments and so many more areas.

Every company has their own set of marketing and outreach campaign and they aren’t necessarily based on customer segmentation via geographic, linguistic, or behaviour patterns. Besides each company has its own customer acquisition cost and not many have the tools and system to measure and manage the campaigns.

Integrated marketing solution is the need of the industry and so is adapting to the ever-evolving market!

Cold marketing is a thing of the past. Without a specific audience in mind, you are just firing without any aim. Quantifiable leads come from consumers who are already searching for a service. Addressing consumers with solutions, who don’t necessarily know what exactly they are looking for, can lead to a higher conversion rate.

Know your customer and understand what mediums your customers prefer!

Are they attracted by implicit marketing where you offer them tailor-made services?

For example, a visitor on your website wants to download a whitepaper and enters their phone number. Since the prospect has shared their phone number it implies they might be interested in your product or services. You can then send them personalized texts asking about their choices and then offering them customized services.

Or is it explicit marketing tactics that attract your prospects where you offer them free consultations when they sign up with your services?

Hi Alex. We thought you might like to know that you currently qualify for a home equity line of credit up to Rs 1,25,000. Contact us at XXXXXXXXXX if you’re interested in learning more about this opportunity.


Targeting consumers by better understanding in order to convert them requires the right tools and channels. Also, it needs to be understood that while addressing the generation of leads it is also important to ensure that no leads are dropped. And, to make it possible an omnichannel system needs to be adopted that reaches out to the consumer at all the needed touch points.

And how is that possible?

Automated SMS marketing gives FinTech lenders the ability to optimize customer acquisition along with taking on other challenges. This includes conquering 2 main obstacles

  • Become more efficient through automation
  • Delivering a superior customer experience

Coming back to the major challenge of customer outreach

1. Attract – Converting strangers to site visitors

Consumers might find you through a variety of means, fuelled by your SEO efforts, social media strategy, SMS content offers, PPC and more.

2. Convert – Anonymous visitors start to become identifiable leads

Dedicated website landing pages, clear calls to action via SMS and email, contact forms help them register interest in what you have to offer.

3. Close – The conversion gradually becomes a service user

It can be managed through SMS workflows as it will nurture, educate, and demonstrate what your product or service can do for the user.

4. Delight – The funnel doesn’t stop when the sale is secured

By encouraging repeat business through relevant conversations and content via SMS, now is when you convince your customers to become your promoters and regular customers.

Put marketing automation to work

In the financial sector, even the best marketing channels can be difficult to identify without the use of tools that keeps track of traffic and marketing activities. That’s why 49% of companies are now using marketing automation to assist with repetitive marketing tasks such as SMS, social media and managing leads.

  • Save time – Create a whole month’s worth of messages and schedule them
  • Tailor to the size of your business – Send SMS campaigns accordingly
  • Leverage data – Analyze the result of campaigns and make adjustments
  • Track ROI – View the engagement levels and compare them with the efforts you put in

Here’s how our FinTech clients use the most powerful medium of communication to reach out to their existing and potential customers.

Two-Factor Authentication

With cyber crimes occurring at record levels, financial firms can’t afford to have their customers’ data compromised. That’s why many are using SMS-based OTP to strengthen account security.

Mobile Payment Integration

FinTech companies need a fast, safe and simple integration for mobile payments and it is via two-factor authentication (2FA) that they provide authentication solutions for mobile, online and in-app transactions.

Payment Reminders

Many customers are worried about financial missteps but aren’t necessarily proactive enough to handle it well. Financial firms are addressing this pain point by sending out payment reminders to customers via SMS.

Hello Raghav, Your mortgage payment of Rs 9,999 is due tomorrow. Please log in to your account to confirm the payment or contact us at XXXXXXXXXX if you have any issues.

Real-Time Communication

83% of text messages are opened within 90 seconds. 90% of text messages are read within 3 minutes, and 98% are read within 10 minutes; clearly, SMS are getting through to these users.

Hi Keval! We haven’t seen you for a while. If you need help getting started or have any additional questions feel free to get in touch with our customer service via XXXXXXXXX.


FinTech firms are using SMS to enhance their marketing efforts as occasional messages can lead to higher sales and more customer engagement.

Automate to distinguish information from the noise!

Innovative FinTech firms are leading the way to transform the FinTech industry. Take a cue from how they are using automation by understanding the sensitivity of communication in these times of noise. How providing relevant content at relevant times through relevant mediums helps convert leads to customers and further on using those mediums to turn a one-time customer into a lifetime customer.


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