Management Financial Group: Increasing response and open rates for a multi-brand portfolio through a single communications platform
higher open rates
higher response rate
increase in customer interactions
Centralizing customer communications for a multi-brand portfolio
Increased competition, changing business models, security breaches, and outdated mobile experiences are only some of the challenges financial institutions face today.
As a holding company with a rich portfolio of successful business models, it is crucial for Management Financial Group (MFG) to provide its brands with a fast and secure way to keep customers informed and engaged.
Originally, MFG implemented SMS as a customer communication channel. However, differentiating contracts with each brand led the company to use the channel through multiple providers – resulting in high costs, complexity, and a fragmented experience.
To overcome these obstacles and remain a market leader, MFG needed to build a systematic communication strategy. Mainly, they wanted to introduce new, simple, and economical ways for its brands to attract, inform, engage, and retain customers on their preferred channels.
The company was looking for a one-platform solution with 24/7 support that would reduce the cost and complexity of integrating automation on the most popular communication channels. Most importantly, the financial group wanted a flexible solution that enables its brands to pick and choose the channels and services most suited for them, from one centralized place, while keeping their identity. This was especially important to ensure MFG had a robust infrastructure to support its plans to expand into new countries in the future.
Setting up new channels and automated solutions through a single communications platform
As a certified local partner, TCP (Telecom Consulting Partner) reached out to Management Financial Group to recommend Infobip as a solution to their challenges.
TCP joined our Partner Connect Program to provide a comprehensive solution that empowers brands to leverage the full potential of messaging as a strategic communication channel. The central, cost-effective, and flexible nature of our solution makes it suitable for companies of all sizes, helping them adapt to consumer demand now and in the future.
In this case, our scalable platform enabled MFG to introduce new channels in new countries through one centralized provider. Our extensive mix of CPaaS and SaaS solutions as well as our team’s responsiveness gave the financial group confidence that their long-term communication strategy will be able to grow globally.
By combining our robust messaging capabilities with TCP’s industry knowledge and expertise, MFG can unlock new opportunities to:
- enhance customer engagement
- optimize messaging campaigns
- drive meaningful business outcomes
MFG decided to follow through with this recommendation due to the wide range of customer communication channels offered, and the ability to add marketing and chatbot automation in the future – all on the same platform. They also gained access to our customer data platform, which enables them to segment and target specific groups of customers based on unique attributes, demographics, and more.
Other campaigns included collection messages which had to reach customers in a timely manner on crucial channels, and campaigns to acquire new customers.
An important part of our platform for MFG is the ability to assign administrative resources according to a campaign type using rules and functionalities. This enables the company to connect customers with the right service representative based on the nature of their query – helping them provide a personalized experience.
20% higher message open rate and 15% increase in response rate
Introducing Viber with SMS failover on a single intuitive platform delivered exceptional results for MFG. The company saw a 20% increase in message open rate when using Viber and SMS as an omnichannel combination, compared to SMS alone for its welcome campaign – followed by a 15% increase in response rate.
Overall, communication increased by 30% after implementing a rich messaging channel.
Most importantly, MFG brands have a trusted and fast way to communicate with customers and can use one platform to manage all of their mobile marketing campaigns.
Working with Infobip was a seamless experience for the financial group due to thorough, easy-to-understand documentation and smooth implementation.
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Management Financial Group
Management Financial Group (MFG) is a holding company, uniting leading providers of non-bank financial services in Central and Eastern Europe. MFG manages a rich portfolio of successful business models in the field of consumer loans, loans for micro and small businesses, credit cards, block chain-powered financial services, digital business and other alternative financial products and services. MFG brings together companies with different experiences, history and traditions. Some of the institutions in the structure of MFG are in the initial stage of their development, some are rapidly developing and growing, others are well established in their industry with over 12 years of experience. Easy Credit, Viva Credit and Access Finances are some of the most recognized consumer brands.