THE FINANCIAL sector is increasingly relying on digital communication. According to a recent study commissioned by Rakuten Viber, 40 percent of banks and financial institutions already use messaging apps to communicate with customers.
While digital communication is very convenient, I am personally aware of the potential risks that banks and their customers face when communicating online. The good news is that there is no need to abandon digital communication. It simply means banks and customers should understand the risks and know how to minimize them.
As one of the world’s most trusted and downloaded messaging apps, Rakuten Viber is widely used by banks to communicate with clients. With that in mind, we have outlined five common concerns banks encounter when communicating with customers online and shared practical ways to help mitigate these challenges, from security to reputation.
Fear 1: Customers will hand data to wrong person
This is one of the most common risk scenarios. A customer receives a message that appears to come from the bank: “Confirm the transaction” or “Your account will be blocked.” The message looks convincing, especially if it features a familiar bank logo and is written in an official style. As a result, the customer clicks a link or shares a code with a supposed bank employee, effectively giving fraudsters access to the customer’s account or confirming a transaction.
For the bank, this creates the risk of financial losses from disputed transactions and compensation claims, as well as a loss of trust in its digital channels. Although banks cannot fully control customers’ actions, they can reduce the likelihood of mistakes.
How to help customers protect their data:
– Verify official channels through verification badges (such as a blue check mark) so customers can quickly distinguish legitimate communication from fraudulent messages.
– Regularly remind customers about security practices. Explain what the bank will never ask for, which actions are risky and what information should never be shared.
– Provide simple and direct access to official channels. If the bank regularly communicates through a messaging app, include links to the official messaging channel on its website and mobile app.
Fear 2: Bank will send data to wrong recipient
The risk of sending data to the wrong recipient works both ways. When a bank receives an inquiry, it must ensure the person on the other end is the legitimate customer, not a fraudster attempting to gain access to confidential information.
How can banks prevent this from happening?
Use two-factor authentication as a baseline. Conduct additional verification before sharing sensitive information. One such tool used by banks on Viber is SecurePlus Message.
How it works: The system checks the recipient’s number in real time for possible fraudulent activity by analyzing account activation history, device changes and typical user behavior. For example, was the account deleted and recreated just five minutes ago? Only after receiving a “green light” is the confidential message delivered. If the activity appears suspicious, delivery is blocked, allowing the bank to use another method to verify the client’s identity.
Fear 3: Customers won’t read important messages
Not all risks involve fraud. Another challenge is unread messages. Notifications about payment deadlines or other important reminders may get lost among numerous alerts or remain unread in an email inbox the customer no longer accesses.
As a result, customers may miss important actions, while banks spend additional resources sending reminders and handling complaints.
To address this:
– Choose communication channels customers use every day.
– Add backup communication channels to reach customers who do not have access to mobile data, such as SMS as a fallback for messaging apps.
– Clearly explain communication channels when customers open an account. Specify which channel is primary and where they will receive critical notifications. List these channels on the bank’s website and in its mobile app as well.
Fear 4: Reputation will suffer because of poor online service
In the financial sector, high-quality customer support and fast response times are essential. When customers cannot quickly block a card or receive a clear answer, anxiety increases because of the risk of financial loss. If a chatbot responds only with generic phrases, customers often end up calling a support representative and repeating the same information. Ultimately, dissatisfaction may lead to public complaints that damage the bank’s reputation.
How to create reliable support:
– Maintain a balance between chatbot automation and live support.
– Route inquiries clearly and establish transparent workflows. Configure chatbots to handle routine requests involving balances, card limits and basic instructions, while transferring complex cases and critical situations, such as card blocking, to a live support representative.
– Integrate the chatbot with a CRM or customer support platform so representatives can view the inquiry history, customer status and previous actions, eliminating the need for customers to repeat their requests.
Fear 5: Inability to identify a customer who posts a public complaint
What happens when dissatisfaction becomes public and a customer posts a complaint on social media? The bank often sees only the text of the complaint, with little context: an anonymous profile, limited information and sometimes not even a real name. Support staff must manually search for clues, including transaction amounts, dates, descriptions or possible transactions. This increases the workload and the likelihood that the complaint will remain unresolved.
This can be prevented by:
– Sending a short survey immediately after an online interaction to gather feedback.
– Linking feedback to a specific transaction, request or inquiry and establishing a response process for negative feedback.
Effective digital communication is about bridging the gap between banks and their customers, and these challenges can be addressed through transparency and consistency. When a bank provides a predictable communication channel that customers trust, it gains a competitive advantage while strengthening customer loyalty. As one of the world’s most widely used digital communication platforms, Rakuten Viber continues to develop solutions that help make these interactions more secure and flexible.
Cecile Perez Tizon is the senior director for Global Enterprise Sales at Rakuten Viber. a cross-platform messaging and voice-over-IP (VoIP) app that enables users to exchange messages and make encrypted voice and video calls over the internet.