Nick Babinsky, Chief Product Officer of Solutions by Text, will lead a webinar on April 24th at 2:00 p.m. EST, focusing on the evolution of business-to-consumer messaging in lending. The session will explore the transition from SMS to MMS and the interactive capabilities of RCS, showcasing how technological advancements align with changing consumer engagement preferences.
"Consumers expect more than just notifications. They want meaningful, real-time interactions," Babinsky remarks. Current data highlights that while 80% of consumers want to text with lenders during the loan process, 41% of applicants never receive a single message. This communication gap is significant, particularly as nearly half of Gen Z and Millennials would consider switching providers if texting isn’t an option.
"The gap matters – especially when 49% of Gen Z and Millennials say they’d switch providers over a lack of texting options – and proves that good conversations aren’t just nice to have; they drive decisions, foster loyalty, and lead to better business outcomes," Babinsky explains.
The webinar will discuss how SMS, MMS, and RCS can be integrated to meet increasing consumer expectations. Babinsky will present insights from the "Digital Denial: The Hidden Cost of Lending’s Communication Gap" report by SBT and Datos Insights.
The event is sponsored by Solutions by Text, with Babinsky serving as the main speaker. Interested parties are encouraged to register for the session.