Use Of SMS Gateway API In Banking Sector

SMS gateway may be defined as the process of sending or receiving of short message service to or from a network of telecommunication. This service is required in various fields, both professional and personal. The banking sector is one of them. SMS and banking are very much related to each other. The bank sends SMS to the clients to keep them updated about regular transactions. This is because of two reasons:

Sending SMS saves the time of both the bank as well as the clients.
Sending of SMS is economical rather than calling up all of the clients individually.

Operations of banking which is carried on by bulk SMS services given by a bulk SMS API provider may utilize either push and draw messages.

About Push Messages

Push messages are those that a bank conveys to a client's cell phone, without the client starting a demand for the data. Generally, a push message could be a promoting message or an alarm of an occasion which happens in the client's ledger. It might likewise be bulk messages sent by the bank with the help of bulk SMS API provider, to inform the client that some payment is expected, or that an Internet statement is prepared to be downloaded.

About Draw Messages

Draw messages are basically the initiation of messages by the clients with the help of bulk SMS API India to get updated about banking transactions. This is very convenient for carrying on operations in the present day world.

SMS gateway has eased the regular banking transactions of everyday life.

Comments

One Time Password- Usage and Benefits

With the introduction of new techniques of verifying a user like fingerprint scanning, face recognition, retinal scans, and puzzle solving; daily static passwords are being less protected and unwieldy for users to keep in mind. When the Internet first began, it was exhilarating to have a powerful and hard to detect password for your emails, but now these similar types of passwords can be simply detected and hacked into. Increasing number of people are using online banking, making financial transactions, buying things online on their Smartphone, and keeping sensitive information on the Internet. Regular passwords are not very secure to defend users against malware and hacker attacks. So, One Time Password is the best method to defend users from fraud and malware attacks, particularly if combined with an out of band verification method. One Time Password Services Banking and financial organizations use OTPs to secure their user logins using an out of band veri...

One Time Password- A Significant Authentication Method for Every Business

One Time Password or OTP is an added two-factor authentication for financial and sensitive transactions performed online. OTP is a four to six-digit arithmetical code delivered in real-time as SMS to any user’s registered mobile or cell phone number when performing the transaction. As far as signing into websites and computer systems is concerned, it generally involves entering a throwaway password, which is applicable only once and gets changed every time you log-in. Typically, a one-time password is a sequence of worthless numbers or characters or it might be a half dozen or so small, unsystematic words. How would you know your OTP if it keeps varying? It is not something you are anticipated to keep in mind: it is produced automatically and delivered to you by some process other than online transmission. It might be delivered to your cellphone (mobile phone) as Bulk SMS ; it could be produced by an app running on your mobile phone or by a fanatical, handheld electr...

2FA Security Becomes Essential As Cyber Breaches Affect Millions

Most of us regularly use our credit or debit cards for online transactions and nearly everyone has some sort of social networking account in their name with private details kept in it. In this day and age, where all resources and services are accessible within a few clicks, it is obvious to purchase anything online or transact money. Users are now becoming more responsive about making powerful and complicated passwords for making their personal data safe. That definitely is one step ahead, but it is not sufficient. The one security solution increasingly being implemented by financial institutions, banks, IT companies and topmost social networks is two-factor authentication or 2FA . One Time Password Through Bulk SMS Two-factor authentication depends on something that user understands, i.e., login ID and password and something they physically have like mobile, USBs, or some other devices. Once you implement two-factor authentication processes, you have to enter one time pa...

Two Factor Authentication

Search This Blog