SMS from the bank - an endangered species?

Chronology of events

• The federal law “On the National Payment System” obliged banks to report on any operation.
• The number of SMS from banks has increased significantly.
• Telecom operators have raised the price of SMS for legal entities.
• Banks are looking for workarounds to reduce costs.

Any problem is an opportunity to earn on its solution. So thought the founder of the service "TIM connect" Vladislav Korolev.

By offering banks an alternative option to notify users, you can immediately kill two birds with one stone - earn money by providing notification services to banks and destroy the disgusting SMS spam.

Since November 2014, when the service was presented at one of the banking conferences, the gradual introduction of this service began. Now customers connected to the banks service will be able to choose this way of receiving alerts. The only bottleneck of this business chain may be the need to install the application on your smartphone yourself. Although through uncomplicated marketing insinuations, it is quite possible to achieve a word of mouth installations.
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The site of the service did not contain information about already connected banks and nothing can be done without registering. According to RBC, some competitors in the industry are skeptical about the project, motivating this, thus the bottleneck, as well as the presence of their own banking applications.

How does TIM connect work?

Tim connect serves as an intermediary between the bank and the client. The bank sends information to the Tim connect server, and the bank in turn sends a message to the client’s mobile phone as a push notification. If the client does not view the message for 10 seconds, then it is duplicated as an SMS. The bank client must download the mobile application of the same name, which will receive notifications from the bank on its own.

Service features:

• To the development of the service so far invested 22 million rubles.
• The application was created immediately for three popular platforms (iOS, Android, Windows).
• A simple principle of monetization is the payment for the read push notification.
• To promote the service using direct sales.
• About 30 bank clients.
• 15 million rubles - the monthly turnover of the company.
• Built-in cost analyzer.

Whatever it was, whether the service will succeed in gaining a critical mass or not is unknown. But only one thing becomes clear right away - SMS alerts, which we used to see them in the last 10-15 years, come to an end.