Chatbanking is the future. It allows you to make transactions from your favourite messenger app. It is hassle-free and secure. So why are banks not reacting quickly in implementing this great solution?
Banks may be hesitant in implementing chatbanking because they have invested millions into their banking apps and they would like to see a return on this investment before committing to an investment in chatbanking which could replace these apps.
A more relevant reason for the hesitancy is the fact that chat platforms do not meet the security standards required by the industry. Cybercrime and fraud are one of the major concerns with chatbanking.
WIZZIT is proud to have developed a PCIDSS compliant solution that not only meets the Banks’ requirement for state of the art security, but also the customer requirement for seamless, frictionless user experience.
The fact that no downloads are required is a major convenience to the customer and even the most basic of handsets have WhatsApp and Facebook Messenger installed on them. APPS, as we know, can only be used on high-end smartphones and some of the bank apps are exceptionally bandwidth heavy consuming large packets of data. Secure, authenticated Chatbanking eliminates this.
Proactive banks are changing their philosophy from being an “APP on your Phone to being a FRIEND IN YOUR CONTACTS.”
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