The Bankwatch

Tracking the consumer evolution of financial services

ClairMail reduces call centre calls for account balance

Just met with the folks from ClairMail at the technology showcase.  They have an implementation at Wells Fargo, that lets customers SMS or email to Wells, and get back their account balance for their credit card or deposit account.  This is in response to the number of telephone calls they get while customers are out shopping, and need to know their spend availability.  So a $12 phone call is replaced by a cheaper email.

Their model is subscription based, but not sure how sustainable that will be, because many are going for the subscription model now, and each of these add up to new customer costs.  Banks need more flat rate costs, that can be scaled across large customer bases.  Good concept though.

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Written by Colin Henderson

May 22, 2006 at 11:16

Posted in Innovation

5 Responses

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  1. Thanks for the heads up regarding their technology. As Wells Fargo customer, I signed up for this service except, if they are sending SMS, they are sending over 350 characters.

    Actually on my MetroPCS Phone it does support 160 characters, except, when it send me a message for my daily balance, it looks like this on my mobile.

    Here are the updates you requested for your Wells Fargo Acct. 000-0000xxx as of 09/06/2005.

    Balan

    360dvd

    June 9, 2006 at 07:16

  2. Thanks for the real time information about how this works. My immediate reaction, is that this is not very customer friendly.

    Question … does this service align with the other services you get from Wells? In other words, is this less than you might expect from that Bank?

    Colin

    Colin

    June 9, 2006 at 18:05

  3. We work with ClairMail and thought we’d chime in with a brief clarification to comments from 360dvd and Colin.

    ClairMail’s technology makes it possible to send an email or text message and perform a variety of tasks including transferring funds from one account to another, checking account balances or even alerting customer service to give you a call so you don’t have to wait on hold. ClairMail is working with a number of banks, insurance companies and other financial services firms to enable text, SMS and email-based services but these are all still under development and not publicly available.

    Jesse Odell
    ClairMail

    Jesse Odell

    July 28, 2006 at 13:48

  4. Thanks for that update Jesse. Your model is an interesting new (for North America) slant on wireless banking.

    Colin

    July 28, 2006 at 14:39

  5. […] and Clairmail announce today a strategic partnership. we first wrote up ClairMail, here last […]


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