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WhatsApp for Banks and Fintech: Secure and Compliant Client Communications

Financial institutions are among those with the strictest compliance requirements for client communications. WhatsApp Business API, with EU hosting, end-to-end encryption and auditable archive, can meet many of these requirements.

WhatsApp for Banks and Fintech: Secure and Compliant Client Communications

Use cases for banks and fintech

Most suitable banking communications for WhatsApp: transaction notifications, suspicious activity alerts, confirmation of relevant operations, and financial product deadlines.

Do not use WhatsApp to communicate sensitive banking data. WhatsApp is for event notifications, not financial data management.

Regulatory compliance for the financial sector

European banking is regulated by strict regulations: DORA, PSD2, GDPR, and EBA guidelines on client communication. Communication retention is a regulatory requirement for financial institutions.

Two-factor authentication via WhatsApp

Many banks and fintechs use WhatsApp as a channel for sending OTPs for operations requiring strong authentication.

Competitive advantages for fintech

Challenger fintechs using WhatsApp as their main communication channel differentiate from traditional banks still relying primarily on email.

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