Forex Traders use International SMS to Reduce Risk

In an ever-increasingly mobile world, international SMS has come to play a vital role in business, particularly in the financial industry. Using international SMS options, UK financial institutions are able to give their customers peace of mind about their financial transactions, regardless of their location. Transaction notifications and fraud alerts are some of the most popular uses of international SMS within this industry.

One example of an innovative use of international SMS functionality is Global Forex Trading (GFT), a worldwide leader in online currency trading with registered traders in over 120 countries. GFT uses international SMS to inform traders around the world of changes in market prices, deal-closure notifications and order limit status. International SMS is the most affordable and cost-effective way to do this, enabling traders to take advantage of up-to-the-minute opportunities. GFT sends over 50,000 international SMS messages a day.

Forex trading is a highly profitable segment of the global financial industry with an estimated daily turnover of $3.98 trillion. Successful traders rely on timely and accurate information in order to make the best decisions for their customers. Because trading markets operate 24 hours a day across different time zones and international telephone calls are therefore inconvenient and costly, international SMS is now the most affordable and effective way to communicate with traders around the world. International SMS allows them to make the correct decisions, quickly! In 2008, 50% more trades took place via mobile than the previous year and this market is expected to double again by 2011.

The Forex trading market is just one of the many segments of the financial industry that have begun to use international SMS to add value to their customers, extend the reach of their brands and reduce incidences of fraud. The banking and insurance segments also put international SMS options to good use.

Used to build consumer confidence and reduce fraud through the limitation of identity theft, international SMS alerts are sent to banking customers’ mobile phones, allowing them to instantly report fraudulent activity on their accounts. These transaction alerts have brought about dramatic decreases in fraudulent incidences, saving money for the banks and stress for the customers. International SMS options also enable customers to access their accounts from wherever they are in the world, requesting balance updates and mini-statements.

Beyond these tangible benefits, international SMS can also be used by financial institutions to extend the reach of their brand beyond the UK’s borders. Text messaging campaigns are one of the most affordable and effective way to reach new markets through mobile competitions, viral campaigns and text message sign-ups.

All businesses need to reduce their risk, increase their profits and extend their reach while ensuring that existing customers are kept happy. International SMS is an easy, affordable and quick to implement way to do all of the above.

Take a look at the international SMS messaging solutions available for mobile messaging campaigns.

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Tags: Clickatell UK, International SMS, international SMS options, International SMS Software, UK International SMS