Providing new ways to supply payment reminders for financial services provider, Liberis
Liberis have been pioneering embedded finance since 2007, founded on a belief that it is a better way for small businesses to access the funding they need. They’re now one of the leading global partners for embedded business finance in Europe, the UK and the US. They work with banks, SaaS providers, payment processors and ecommerce platforms, providing all they need to offer frictionless funding solutions to their business customers.
Liberis were looking for more engaging communication channels to connect with B2B customers and remind them about their upcoming payments.
Liberis had not previously deployed any mobile-focused payment reminder strategies, and as a result were interested to explore the opportunities they provide.
It was hoped that by integrating mobile-focused reminders, Liberis’ in-house Payment Assistance team would have a wider range of contact options available to them, which in turn would help them provide better support to their customers.
What were Liberis’ requirements?
Liberis had the following prerequisites:
- Any new channel had to be simple for Liberis’ teams to use, and fast to integrate
- Had to work in tandem with Liberis’ current communication strategies
- Had to be cost-effective
- Communications had to be traceable, with the ability to see when messages had been delivered and read
- Messages should have a high delivery/conversion rate
- Treating Customers Fairly – ensuring the right customers were messaged at the right time and frequency
- Customer experience – Tailored messages to ensure all customers are able to meet their financial obligations and act on the message
- Data integrity and security
How were Liberis’ challenges solved?
Liberis worked in partnership with Esendex to deploy an initial SMS based payment reminder strategy.
By using the Esendex SMS online portal Liberis were able to quickly add SMS as a route for their Payment Assistance team to engage with customers for payment reminders. This has proven to be particularly useful when contacting the proportion of the customer base who are primarily small business owners, and may not be able to pick up the phone or have access to emails at all times.
An additional benefit for Liberis has been the remote access that the Esendex SMS online portal provides, which has proven to be especially useful while the team work from home during the Coronavirus pandemic.
What results have Liberis seen?
As a result of the new communication channel which has been made available by the Esendex SMS online platform, Liberis have seen a 20% increase in customer interactions, actions and responses.
More from Liberis
“We’re really pleased with how the partnership with Esendex is going.
The pricing model is good and all of our other key requirements have been met. The tool is exactly fit for purpose.
As well as that, the team at Esendex have always been on hand to support whenever we have needed”.
Tony Cole – Global Collections Manager – Liberis
Liberis is not affiliated with Esendex and does not make any warranty, endorsement or reputation about Esendex’s products or services
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