Sasfin Bank Customer Story

Re-imagining digital banking

When the COVID-19 pandemic hit South Africa in March 2020, Sasfin’s digital team realised that they needed to expand their commercial and forex offerings by reaching their clients in a more efficient way. The team decided to expand their long-term client engagement strategy by streamlining their SMS messaging system, with a view of eventually moving to WhatsApp as a two-way communication channel that’s simple and efficient.

With WhatsApp positioned as their preferred long-term communication channel, Sasfin first had to migrate their existing SMS database to a new provider that could ensure a seamless SMS communication experience that was fully digital. This would allow them to create a scalable platform to engage larger businesses without losing sight of smaller businesses and start-ups.

Importantly, they needed a provider that could offer them both SMS (short-term) and WhatsApp (long-term) communication, along with a user-friendly dashboard and state-of-the-art tracking and reporting functionality. This is where CM.com stepped up to the plate.

The solution

The CM.com team was quick to answer the needs of Sasfin’s digital team. Within one month, Sasfin’s existing SMS database had been migrated from their previous service provider, the Business Messaging API had been implemented and the entire system had been tested.

Sasfin uses the API to easily manage marketing and transactional communication, providing clients with useful information and support. For example, SMS communication can help a client access an account with a one-time pin or reset their passwords.

The next phase in the project is to transition to WhatsApp. CM.com is currently helping Sasfin progress from SMS-based messaging to WhatsApp Business messaging, allowing Sasfin to enrich its customer service and support efforts. By switching to WhatsApp, Sasfin will be able to engage in two-way communication with clients by sending personalised messages to businesses all around the world via a single API.

The results so far

At the start of this project, Sasfin was sending 10 000 SMSes per month; in less than a year and a half, the business now sends 250 000 SMSs per month. This not only enabled continuous and targeted client communication but has also resulted in saving 3 cents per SMS, essentially halving Sasfin’s SMS messaging expenses since partnering with CM.com.

Delivering integration flexibility

By deploying the Business Messaging API to deliver SMS notifications, and working to develop and implement a longer-term strategy that addresses client needs as they develop, Sasfin will be there at the precise moment clients need them on their chosen channel. The best part is that minimal work is required from the Sasfin team, and that the reliable, flexible API leaves room for expansive testing and exploration to enable future developments.

“My relationship with CM.com is based on solid and consistent communication and a shared dedication to innovation. Their customised solutions give us the tools we need to envision a future that goes beyond typical communication approaches. We’ll be able to embrace conversational AI technology, allowing us to take our offerings to the next level,” says Martin Joubert, Chief Digital Officer at Sasfin Bank Ltd Business and Commercial Banking.