4 Steps to Auto-Remind Clients of Deposit Due Dates

4 Steps to Auto-Remind Clients of Deposit Due Dates

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4 Steps to Automatically Remind Clients of Deposit Due Dates

Many bank accounts or investment accounts require clients to deposit a specific amount of money periodically. For instance, investments like RRSP often have annual deadlines by which deposits should be made by clients. Indeed, auto-deposit is an option that can be explored. But, it is also important to note that many clients prefer to have more control over their finances, which is why they go for manual depositing options.

This brings one big challenge for bank customer service professionals: dealing with missed deposit deadlines.

Now, being human, we often forget about many events. Same goes for clients. It’s only a natural to forget to deposit funds. Maybe it is a one-off event for clients but when it comes to managing thousands of clients by a team, tracking those missed deposits, contacting clients, and reminding them to complete their transaction can be burdensome. If banks use a manual process for to remind clients about their deposit deadlines, it is even more work.

So, the best course of action should be minimizing the number of missed deposit deadlines by reminding clients before the due date.

Then again, is it not a great idea to manually call/SMS/email every single client to remind them about their due dates. Banks needs a system that will help them send automated deposit reminders to their clients. This is the fastest and most efficient way to make sure clients are always notified about deposit deadlines without keeping team members tied up.

However, it is not easy to set up an automated deposit reminder solution without a solid strategy and a set of streamlined digital tools to digitize that process.

Fear not! We have your back!

Here we are going to explain the four easy steps to build an automated deposit reminder solution.

Step #1 Configure Automated Reminder Emails

The first step of designing an automated deposit reminder solution is developing the reminder email template. This email template can be designed by using an email marketing platform. If needed, you can easily incorporate visual elements to make the email more attention-grabbing. You can also set up personalization criteria to send a personalized version to each clients. All reminder messages are configured ahead of time with information relevant to each recipient. If you want, you can also put a button in the email for clients to click and deposit. There are so many ways you can explore while building a reminder email.

Step #2 Automatically Add Clients

Once the email template design is done, the next step is ensuring that all clients receive reminder messages including the ones who register with you after the campaign begins. Now, this can be a bit difficult in a manual process because you would need to add every client manually to the campaign. However, with an automated solution you do not have to worry about this because you can easily connect the reminder campaign to your customer database. By doing that, every time a new client registers, they will be added in the reminder campaign.

Step #3 Notifying Team Members

This step is important because once you launch the campaign, all your clients are going to receive deposit reminder emails automatically. But what if there are clients who do not open your email, let alone read it? Well, the automated solution can detect clients who are not opening their emails. Those clients are likely to need personal communication. So, you can easily mark a client and assign a task to a team member to follow up personally. The campaign will be paused for those marked clients and keep going on for the rest. Once a team member reaches out to the non-responsive clients, sort out all issues, and mark the task complete, the auto-reminder campaign will resume for those clients.

Step #4 Automatically Restart Reminders

Finally, once a whole period of sending reminder emails is over (like sending 30 emails in a year), you have the option to restart the reminder campaign. Assuming the deadlines remain the same for the new year, the same campaign can be used again. In this way, you do not need to manually recreate all emails. You may want to tweak some of those messages but ideally the restarted campaign will start sending all previous clients plus the new ones who will start banking with you in the new year.

Here you go! You have an automated deposit reminder solution for your bank’s customer service team. You can now automatically remind all your clients of their deposit due dates ahead of time so they don’t forget anymore.

The solution does not need manual intervention, which means your team can focus more on personally reaching out to clients that need more personalized communication. Also, the solution does not require any technical skills to operate: a must-have process to make your team more efficient.

Now, just in case you are wondering, you do not need to build this solution from scratch! SimplyCast has already built an automated deposit reminder solution that can be customized for your bank. We have used our in-house suite of software like email marketing, 360 automation platform, and CRM to build this application. This solution can be easily integrated to your banking system.

Our company is ISO 27001:2013 certified with data centers in the USA and Canada, which means your data and your clients’ data is completely safe with us.

Sound interesting? Don’t wait! Reach out to us today.

Book a one-on-demo with one of our experts by clicking the button below!

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