WhatsApp Business API offers personalized communication for customers. With small and flexible amounts, microfinance institutions can offer products or tailor investment products to their customers. This finding suggests that financial institutions can improve their relational contracts with customers by customizing gambling database their services to the customer’s choice and usage pattern.
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8 Best WhatsApp Business API Use Cases for Microfinance Institutions
1. Support when applying for a loan
With automated workflow, more work can be why study software development 5 saved. With WhatsApp, the lending process becomes easier for MFIs offering loans to underserved groups.
2. Payment reminders and receipts
Microfinance organizations can use WhatsApp automation to send alerts as they can use WhatsApp messages dating data to send regular payment reminders to borrowers.
3. Financial education and training
WhatsApp chatbots can facilitate the dissemination of financial literacy programs, which borrowers can receive directly through the app in the form of informational messages, as well as ways to save money and repay the loan. To increase the level of knowledge of clients and make the learning process more interesting, MFIs can include video internet, voice notes and infographics in the learning process.