In the case of microfinance organizations, the WhatsApp Business API can help organizations collect feedback from borrowers through messages and wassup surveys. Thus, through the prism of analyzing responses, MFIs can work on services, change their portfolios, and gain information about borrower behavior, which ultimately benefits their operations.
Multilingual communication
WhatsApp automation overseas data allows microfinance organizations to offer support in the languages of borrowers’ choice, thereby increasing overall satisfaction. Through WhatsApp, we can interact in regional languages, making it easier and better to communicate with people from those regions.
What are the best practices for using WhatsApp Business API for microfinance institutions?
1. Ensure compliance
Microfinance institutions using WhatsApp Business API must adhere to regulatory requirements and maintain borrowers’ trust implementing a paid traffic strategy by ensuring data privacy and security. Local obligations in the form of data protection regulations require that such customer information be shared via WhatsApp messages.
WhatsApp uses end-to-end encryption and maintains data privacy. MFIs must also obtain explicit permission from their overseas data borrowers to message or participate in automated notifications. The organization must adhere to ules to avoid cases of misuse or spam.
2. Ensure safety
Some messages sent between people using the instant messaging app WhatsApp contain financial data. Microfinance organizations must use end-to-end encryption and secure servers. This increases the security of borrowers’ personal data, including loan agreements and repayment history.
Microfinance institutions dating data can protect their communication line from fraudsters and other unauthorized users. This can be possible through integration with reliable WhatsApp Business providers such as Getgabs .