For insurance and financial institutions, sms messaging solutions are used to reduce cost-to-serve customers with opportune service notifications and payment reminders, reduce fraud and theft through otp (one-time-password) authentication and generate real time fraud and transaction alerts. new can be useful for notifying the customers i.e. will be helpful in sending messages to your customers informing about their new plans,accounts detail,transaction detail,alert on on-line payment,bill payment ,atm usage alert etc. think about the last time you made a insurance transaction or payment. you likely had to use a one-time pin or enter a two-factor authentication code to complete the transaction. banks can use sms's to increase security and improve customer engagement. in the us, chase, american express, bank of america, and wells fargo all offer services to enable customers to receive notifications about low balances, large transactions, and account activity. financial services sms solutions allow you to keep a close eye on your accounts.