"The report, entitled "The Messaging Evolution: Exploring Consumer Motivation and Behavior in the Age of RCS," found that 80% of consumers want text communication capabilities with their lenders. However, only 22% consistently conduct such communications at this point."
"The report found that 68% of respondents are more comfortable with financial text communications when RCS features are employed. Written by David Albertazzi and Ariana-Michele Moore, the report found that 84% of consumers are open to using enhanced messaging for financial services interactions."
"RCS enables seamless autopay and collections adoption, with 76% of consumers willing to use RCS text messaging for these tasks."
"Consumer demand, RCS capabilities, and competitive pressure make this clear: Financial services organizations must act now to implement comprehensive RCS strategies, The institutions that embrace RCS comprehensively will address longstanding operational challenges, such as late payments and follow-ups, while meeting customer expectations. This technology represents not just an upgrade to existing capabilities but a fundamental reimagining of how financial services can engage with customers effectively."
80% of consumers want text communication capabilities with their lenders, yet only 22% consistently use text for those communications. 68% of respondents feel more comfortable with financial texting when RCS features are used, and 84% are open to enhanced messaging for financial services. 76% of consumers are willing to use RCS for autopay and collections. 59% are more likely to choose lenders offering RCS capabilities. 40% prefer text over mobile apps for financial tasks, and 28% say they would not need apps if RCS can perform those functions, enabling market differentiation for early adopters.
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