- Educate your customer
When it comes to scammers, the best offense is a good defense. The first line of defense should be education. As a credit union, advancing the financial education of your members is a top priority.
Make them aware of common phishing scams and what kind of messages they can expect to receive from you. Promote the numbers that your members can use to text by placing them on your website, social, and written collateral so that members can become familiar with them. Encourage members to save these numbers within their contact list so they can have them handy whenever they have a question. Whether it’s a question, as simple as hours of operations to something more complex regarding their first mortgage, your members always have your number handy as a trusted, reliable source.
- Systematize messaging
Text messaging is the easy, convenient way that your members are used to communicating with family and friends. The ease, acceptance, and accessibility of the messaging channel make it the prime vehicle to interact. While it might be tempting for a loan officer to use their personal cell phone to contact a member to remind them to submit required documents for their loan, that type of one-off outreach can be hard to manage and may be confusing to a member.
Quiq Messaging can help you systematize messaging. Instead of messages coming from a personal number, you can provision your existing credit union landline or create new ones, to send and receive text messages. Your members will be more trusting of a message that comes from a local number or one that they may already be familiar with and have stored in their contacts.
- Don’t use a shortcode
Shortcodes are the short sequence of numbers, usually 5 or 6, that many businesses use for SMS marketing. Since shortcodes are used mostly to send bulk SMS marketing messages, some consumers are annoyed as soon as they see them since so many unsolicited messages are sent via shortcode.
We recommend using a phone number. Not only will using your credit union’s phone number present a send ID the member can quickly look up to associate with the credit union, but also allows for two-way communication. If the member receives a reminder to submit documentation for their loan but has questions about what they should send, they can respond to the reminder to ask their question and even attach the documentation right in the messaging conversation.
- Provision specific numbers
Some Quiq clients have designated or provisioned specific phone numbers by department. This can add another level of trust to your communication. If, for example, your credit union assigns a particular number for loan processing your members can save the number in their contacts and know precisely which department is trying to reach them.
Members will also have the full history of their conversations with each department available for review. If a scammer tries to send your member a message claiming to be from your institution from a different number or a shortcode, this should be an immediate red flag from your consumer.
Texts from banks and credit cards are commonplace nowadays. A growing number of consumers have become comfortable with the messaging channel as a place they can receive instantaneous updates from a financial institution.
Quiq Messaging can help you set a high standard for your credit union messaging that scammers will find hard to replicate. If you’re new to messaging and would like to understand how you can offer this feature to your members, let’s set up some time to talk.