Author: Hubtel

We’re excited to announce that SMS Global Holdings (SMSGH) was one of a number of global business giants selected by the Stanford University in Silicon Valley, in the southern San Francisco Bay Area, for its annual Stanford African Business Forum.

Co-founders of the company, Mr Alexander Adjei Bram and Mr Ernest Appenteng, along with Chief Technology Officer, Mr Kwadwo Seinti and Board Chairman took a trip out to Silicon Valley to present our work to leading entrepreneurs and change pioneers from Africa and the world on April 23, 2016.

The annual Stanford African Business Forum (SABF) is the premier networking opportunity for African business interests for the Stanford and larger Bay Area community. This year, SABF celebrated thought leaders and changemakers on the African continent with the overarching theme of reimagining development through creating local value. The theme “Creating Local Value” captured the rise of African consumers, companies and innovations, and the growth of African economies. The forum showcased how enterprising individuals and organizations across Africa are meeting the growing needs of Africans.

CEO of SMSGH, Alexander Adjei Bram, explained before his trip to Silicon Valley: “Africa is emerging as a hub of start-ups in a wide range of areas and we aspire to take this further. We want the world to see our innovation capabilities in the startup sector. At this event, a group of African businesses will showcase their innovations and forge partnerships with the vibrant American business industry.”

“Personally I think this is one of the best times to be in Africa. There’s a lot of growth. I think in the last few years there has been a lot of capital infusion into the continent, which is providing part of the much-needed seed capital to grow. It’s pretty awesome to see how the African business is developing its own mark on the world and to be a part of that,” he added.

The Stanford African Business Forum had in attendance a number of Ghanaian speakers including Patrick Awuah (Founder & President, Ashesi University College) and Eric M.K. Osiakwan (Managing Partner, Chanzo Capital).

Others from Africa and beyond include Hans Nilsson (Board Chairman, SMS Global Holdings), Paul Mfonfu (Tools and Client Engineering Team head, PayPal), Teju Ajani (Youtube, Content partnerships lead, SSA) and Jessica Vernon (Co-founder & Director, Miti Health), who spoke on topics ranging from the Future of Content Creation and Distribution in Africa, Business Models in Financial Services to Investing in Africa.

As a keynote speaker at the event itself, Alexander Adjei Bram addressed participants on the theme “Driving Business Productivity Through Technology – Enabled Platforms,” expanding on how technology can unlock value for African businesses to better serve customers, run more efficiently, make communication simpler and more affordable, and create employment opportunities.

He shared the SMSGH success story with the Stanford community and results of the technology company’s participation in the Stanford Seed Transformation Program that began in 2014.

Silicon Valley and SMSGH are both leaders in innovation. Silicon Valley, home to major technology companies, start-ups and prestigious universities, is the world’s top innovative hub. Cooperation with Valley-based companies and institutions offers exciting prospects for SMSGH, while expanding business networks for better future collaboration.

90 percent of text messages get read within 3 minutes of delivery according to one study from 2011.

Most of your customers have a mobile phone and studies show that about 98% keep their phones within an arm’s reach. This implies that, they are very likely to reach for it at the sound of a beep or at the blink of an LED light. Bulk SMS then offers constant access to your customers.

Why SMS Campaigns?

1. SMS messaging is very popular.       Chances are that you have your phone next to you as you read this and will pick it up as soon as it beeps….and so will the 4 billion users worldwide.
2. SMS Messaging is intimate. The people you engage in via your SMS campaigns will more often than not opt to receive messages from you, because they trust you. Whatever information you send via SMS is guaranteed to reach an audience genuinely interested in your message. Don’t forget to personalize your messages by including your customer’s name and using a unique Sender ID.
3. SMS is flexible and responsive: When you’re launching a new product/service or business is slow, the fastest way to reach your customers is via SMS. You cut out the stress of using other mediums which may require more resources, making SMS Campaigns a more convenient choice in terms of pricing.
4. Instant feedback: SMS is a convenient way to ask your customer for feedback on services provided. Their responses will inform how you do business in the future. Offering freebies or discounts? People love bargains and are bound to respond to SMS campaigns almost immediately.
5. Less is more. In 160 characters, you can send your message across concisely and get your audience’s attention.

Convinced? Sign up at www.mytxtbox.com

Analyzing past campaigns is crucial to improving results in the future. SMSGH has added a new feature – Daily digests – on its messaging platform, MYtxtBOX. By introducing this, customers will receive daily and weekly reports on their account usage and balance notifications.

Importance of reports and balance notifications for Bulk SMS Campaigns

Every SMS you send out is important to you and your target market. Daily digests help account managers monitor and measure effectiveness of SMS Campaigns in the following ways:

• Track results: Our delivery reports provide detailed information on the status of each message you send.
• Have control of your account. Imagine that you have to send an urgent SMS broadcast to you customers, and log into your account and realize your account balance is too low. Receiving prompts when your account is low on messaging credits will avoid any such disappointments. Just as your bank account notifications are important to you, so should your bulk SMS account. Get notifications when your account reaches a threshold (set by you). Don’t wait till it is urgent to top up.
• Plan your SMS Campaigns. Daily reports on your SMS campaigns will inform your decisions when planning your next SMS Campaign. For premium messaging, you are in a better position to determine which of your subscribers to target or put more marketing efforts into.

With these you can customize your approach to customer engagement and marketing for SMS subscriptions to drive productivity.

Don’t have an account? Visit www.mytxtbox.com and sign up

Source: Morgan Stanley

Mobile Telecommunications Network (MTN) hosted this year’s SME Business fair in Takoradi for interaction and networking opportunities for SMEs within the Western Region.

The two-day MTN SME Business Fair, organized under the theme “Accelerating SME growth with smart ICT solutions and partnerships” officially opened on 23^rd March 2016 at the Akroma Plaza in Takoradi . The fair brought together about a number of companies including SMSGH Solutions Limited, Fidelity Bank, Association of Ghana Industries (AGI), GCB Bank, TXT Ghana, Glico and other businesses, who engaged participants in various products/ services they offer.

Participants had the opportunity to experience MTN’s ICT offers which includes Corporate Voice Solutions, Internet Messaging Solutions, Data Centre Services and Security Solutions. Other products showcased included MTN’s vehicle tracking devices, modems, routers, and corporate devices.

SMSGH, one of MTN’s leading partners was privileged to be a part of this event and had the opportunity to present to participants one of its products MYtxtBOX. Mr. Emmanuel Offei talked about the various advantages of using the right communication tools for customer engagement, explaining the benefits of using MYtxtBOX, its features and various offerings especially the recently launched MYtxtBOX Email.

Visitors at the SMSGH booth were taken through live demonstrations on various features of MYtxtBOX such as the #HashTag for feedback; real time messaging reports; multimedia messaging; voice messaging; e-mail messaging among others.

The Business Fair was proudly sponsored by MTN in partnership with the Association of Ghana Industries (AGI) and the Western Ghana Chamber of Commerce.

Email is an essential tool for most businesses to communicate and connect with both employees and customers. The proliferation of smartphones and other mobile devices have increased the percentage of emails people read on the go.

Why Email Messaging Is Important For Your Business.

The world is going mobile – and email is going with it. Today’s customer is at the center of sales and marketing, and in order to satisfy their needs, you have to understand and provide before they even realize their need for it. Here is why you should use email messaging:

• Keep your customers informed of new products/services
• Retain customers through constant communication
• Provide information of interest to your customers.
• It’s a very affordable, effective means of customer outreach
• Your audience has gone mobile and receiving emails is only as easy as they receiving SMS messages
• Grow your social network followings by including links to your social media platforms at the bottom of your emails to help your contacts easily subscribe

SMSGH recently launched MYtxtBOX Email offering its customers multiple channels to engage with their audience. Business owners who want to reach their customers using email can do so online here.

MTN Business is hosting its maiden edition of its immensely popular business Fair in Takoradi. MTN Business is the business unit of MTN Ghana responsible for providing innovative and cutting edge communication services to small-large businesses and institutions in an effort to enable and inspire growth.

This year’s event slated for the 23^rd and 24^th March at the Akroma Plaza and Takoradi Market Circle, will expose small and medium-sized enterprises (SMEs) to smart solutions that address challenges they face in running their businesses.

One of MTN’S leading partners, SMSGH Solutions Limited, who has over the years contributed to the growth of businesses, is one of the major exhibiters at the fair. SMSGH has innovative tools and solutions for SMEs to help boost productivity, enhance customer experience and promote business growth.

If you are interested in finding out more about our business solutions, meet us at the MTN Business Fair on the 23^rd and 24^th March 2016 at the Akroma Plaza and Market Circle respectively, or go through our website. You can also send an email at [email protected]

Don’t forget to add it to your schedule.

Top local mobile value added service (VAS) providers who constitute the Wireless Applications Services Providers Association of Ghana (WASPAG) have suspended all their services on Airtel citing unfair revenue share.

Director of Regulatory and Corporate Affairs for WASPAG, Conrad Nyuur told Adom News that, the mobile network provider, like all other telcos, have over the years been imposing unfair revenue share arrangements on VAS players but this time round “they went too far”.

He explained that Airtel is one of the telcos that keeps 70% of revenue generated by services of VAS providers and gives 30% to the VAS providers, who in turn share their portion with content owners and App developers.

“That revenue share arrangement is bad enough, but just this year they wrote to us and said they will now keep 80% and give us 20% but we resisted and they reviewed it to 75% to 25%, but we still insist it is unfair,” he said.

Nyuur said they therefore gave Airtel one month notice to reverse the decision and that one month ended on March 16, 2016, but they have still not heard anything from Airtel so they have suspended all their services on Airtel until they reserve the decision.

By this action, all premium-rated and subscribed services such as all SMS-based services, caller ring back tone (CRBT), MMS or WAP content services and even some voice services have all been cancelled on the mobile network operator.

This means customers who subscribe to those services, some of which are essential, would no longer enjoy the services until Airtel reaches a compromise with their local VAS partners.

Nyuur noted that this is not the first time VAS players have had to boycott Airtel, saying that in the first instance, Airtel and Tigo failed to pay that exact amount due VAS players as reflected in mutually reconciled financial statement.

“They insisted on paying what they unilaterally collated and we lost money because we had then paid our content providers based on what the reconciled statement said,” he lamented.

He said initially the local VAS players had a 50-50 revenue share arrangement with Airtel but they kept scrapping off part of the share of VAS players every year and claiming it is based on orders from their headquarters in India.

Nyuur said “to add insult to injury”, the network even imposed their Indian-based sister company called ComViva on the local VAS players to play middle man for CRBT services.

“ComViva is nothing but a content provider like us but Airtel forced us to give our content to them in India and then they place it on the Airtel network in Ghana and that has reduced our share of the revenue from CRBT to 11% and not 30% as agreed,” he said.

He said WASPAG is particularly surprised at Airtel because, in India where it is headquartered, it gives VAS players up to 70% of the VAS revenue, but it has decided to shortchange VAS players in Ghana.

“The protest to Airtel’s imposition of unfair revenue share arrangement was necessary because we have endured that unfair cycle for years, where one telco scoops some of our revenue off and once they succeed the other telcos follow and we keep losing,” he noted.

Nyuur said WASPAG is very worried that so far, the telecoms industry regulator, National Communications Authority (NCA) is not providing any real protection for VAS players after licensing special number resources to them at a fee.

He said the last time VAS players took an issue regarding Airtel to NCA, the regulator said it could not interfere in commercial arrangements between two private entities, “but when we suspended our services the NCA said we should restore the services to customers while we negotiate with Airtel.

“We feel that was double standards on the part of the NCA because our commercial arrangement with telcos is always about the customer so why would NCA stay off the arrangement which has ramifications for the customer,” he asked.

Meanwhile, since the WASPAG members suspended their services, Airtel is said to have started feeling the pinch so its officials have called WASPAG for a meeting later today to discuss the way forward, after ignoring the VAS providers all this while.

AIRTEL

Airtel officials reached on the matter confirmed they are aware of the issue but declined comment until after negotiating with the VAS players.

But until then, all VAS services provided by WASPAG members to Airtel customers remain suspended.

WASPAG

WASPAG represents over 20 top VAS providers in the country, and they include MobileContent, SMSGH, TXTGhana, Rancard and many others.

SMSGH has launched Email Messaging on MYtxtBOX in addition to its SMS and Voice messaging. The primary aim is to give users multiple channels to engage with their audience.

MYtxtBOX is a communication tool useful for businesses and individuals to reach a large number of people through bulk messaging. The addition of email messaging is in response to the demands of customers for messaging content that promotes visual advertising.

Research shows that more than 85% of internet users use email and users have a one-stop communication tool that improves customer satisfaction, saves costs, and inevitably increases revenue.

Features

• Create your own marketing campaigns using Email messaging on MYtxtBOX
• Professionally designed email templates for different email campaigns.
• Preview to check how your emails will look like.
• About 60% cheaper than most email messaging providers
• Pay-as-you-go service

MYtxtBOX remains the most effective communication tool useful for reaching a large number of people with personalized information at the lowest costs.

Send an email on www.MYtxtBOX.com

Over the years, SMS has proven to be a cost-effective communication channel with a 98% open rate. It is accessible by both feature phones and smartphones. Knowing the right SMS pricing plan to use can greatly help you reach your target audience.

The following are useful tips to guide you to choose the right SMS pricing plan.

1. Remain Within Character Limit.

To remain within character limit, you have to take note of the pricing scheme used by your SMS provider. Most SMS providers price an SMS based on the number of characters in the message.

A normal SMS has a maximum limit of 160 characters. For example, if you send a message of 180 characters, you will be charged for the price of two message bodies.

You can adopt shorthand texts to ensure that you use the fewest number of characters possible but still convey your message in the most comprehensible form. For example you can replace for your information with FYI or adopt emoticons.

2. Segment Your Contact List

You can also reduce your messaging costs greatly by ensuring that you are not sending messages to people on your contact list who may not be your target audience.

You can segment your contact list into various groups to ensure that you target your communication at the right audience.

The people who are really in need of your message are most likely going to act on the information you provide them.

3. Take Advantage of Price Discounts

Another point to consider is price discounts. You can take advantage of discount offers that come with high volume thresholds. At SMSGH we offer competitive discounted prices for clients who send lots of messages.

4. Choose The Right SMS Provider

Finally, it is very important to choose the right SMS provider that offers you with the best pricing plan to meets your needs.

You do not want to make the painful mistake of engaging the services of a poor SMS provider. A poor provider will hurt your reputation with your audience with system failures. They will also increase your cost of messaging in re-engaging the services of a better provider.

Note that choosing the right SMS pricing plan is key to the success of your communication.

Contact our sales team at sales@smsgh for more information. You can also check out our pricing page for more details www.smsgh.com/pricing.

Create a free account on MYtxtBox to receive free credit for your messaging needs.

Is it bad to charge your phone overnight? What about charging an iPhone with an iPad adapter? Tech myths… whew!!!

Despite how often we use devices like smartphones and laptops, we have plenty of questions about how they work. And with so much information out there — not all of it true — it’s hard to know if we’re treating our electronics properly.

We’re here to debunk some of the biggest tech myths and misconceptions out there.

Mac computers can’t get viruses

Yes, Apple computers are susceptible to malware, too. Apple used to brag its computers aren’t as vulnerable as Windows PCs to viruses, but the company quickly changed its marketing page after a Trojan affected thousands of Mac computers in 2012.

Private/Incognito browsing keeps you anonymous

There’s a misconception that “incognito” and “private” are synonymous with anonymous. If you’re using Incognito Mode in Google Chrome or Private browsing in Safari, it simply means the browser won’t keep track of your history, import your bookmarks, or automatically log into any of your accounts. Basically, it’s good for keeping other people who use your computer from seeing what you’ve been doing. But it won’t keep your identity hidden from the sites you visit or your ISP — so keep that in mind if you’re visiting sites you shouldn’t be.

Leaving your phone plugged in destroys the battery

If you’re like most people, you probably leave your phone plugged in overnight long after the battery is fully charged. Some used to say this would hurt your phone’s battery life, but in fact, there’s no proof that this damages your phone’s battery in any way. Modern smartphones run on lithium-ion batteries, which are smart enough to stop charging when they’ve reached capacity.

You should always let your iPhone battery completely die before recharging

This, too, is a popular myth. Apple points out that its modern lithium ion batteries mean that “You complete one charge cycle when you’ve used (discharged) an amount that equals 100% of your battery’s capacity — but not necessarily all from one charge.”

More megapixels always means a better camera

What’s the difference between 12-megapixel cameras and 8-megapixel cameras? Not much, as it turns out. The quality of an image is determined in large part by how much light the sensor is able to take in. Bigger sensors may come with larger pixels, and the larger the pixel the more light it can absorb. So, it’s really the size of the pixels that matter as much or more than the sheer number of pixels. (A megapixel is simply shorthand for a million pixels.)

Here’s how TechCrunch’s Matthew Panzarino, who’s also a professional photographer, describes the role of the pixel: “Think of this as holding a thimble in a rain storm to try to catch water. The bigger your thimble, the easier it is to catch more drops in a shorter amount of time.” The thimble is a metaphor for a pixel — using a few buckets would be much more efficient than a bunch of thimbles for catching water.

Higher display resolution is always better on a smartphone

Some have argued that at a certain point, screen resolution doesn’t matter on a smartphone. Gizmodo cites experts in saying the human eye can’t discern nitty-gritty detail when a display packs more than 300 pixels per inch. Earlier this year, LG unveiled its first quad-HD smartphone, the G3, which has a resolution of 2560 x 1440. That’s much higher than the average high-end smartphone, which usually comes with a 1920 x 1080 resolution display.

But it’s unclear if those numbers really matter after a certain point because the eye can’t discern individual pixels beyond a certain resolution. When I tested the G3’s display alongside the 1080 Galaxy S5’s display, there was hardly a difference in terms of sharpness — that’s why companies like Apple tend to focus on brightness, more so than ultra-dense displays.

It’s bad to use your iPad charger for your iPhone

This one is a little trickier than a standard “yes or no” answer. Apple’s official website says its 12-watt iPad adapter can charge both the iPhone and the iPad. However, Steve Sandler, founder and chief technical officer at electronics analysis company AEi Systems, told Popular Mechanics that this could stress your iPhone’s battery over time if you do it regularly. It would take about a year, however, to notice any changes in battery efficiency.

You shouldn’t shut down your computer every day.

While some may believe it’s harmful to shut down your computer every night, the truth is it’s actually good to turn off your computer regularly. It’s easy to get into the habit of putting your laptop in sleep mode so you can easily return to it without having to boot up. But, as Lifehacker points out, shutting it down when not in use conserves power and places less stress on its components, which could enable it to last longer.

Holding a magnet close to your computer will erase all of its data.

This technically isn’t wrong — you may remember how easy it was to wipe a floppy disk using a magnet back in the day. But you would need a really, really big magnet to wipe out your computer’s hard drive. Experts told PCMag that hard drives on modern computers would only be susceptible to really strong magnets with really focused magnetic fields. So your average refrigerator magnet wouldn’t do the trick.

Cell phones give you brain cancer

Although cell phones emit radiation that can be absorbed by human tissue, there isn’t any conclusive evidence showing that cell phones actually cause cancer.

Here’s what a report from the National Cancer Institute in the USA says:

Although there have been some concerns that radiofrequency energy from cell phones held closely to the head may affect the brain and other tissues, to date there is no evidence from studies of cells, animals, or humans that radiofrequency energy can cause cancer.

More signal bars guarantees great cell service

While having more bars helps service, it doesn’t necessarily guarantee excellent reception. The bars just indicate how close you are to the nearest cell tower. But there are other factors that impact how fast the internet on your phone performs, such as how many people are currently using the network.

Credit: Tech Insider

Over 130 million mobile money transactions in 2015¹, 5 million mobile wallets and a population of over 25 million². These times signify limitless possibilities for commerce in Ghana!

In the ever-evolving world of business, a key differentiating factor between businesses that lead the pack and those that are left behind is their ability to rapidly adopt new technologies that increase productivity and outcomes. The local Ghanaian business scene is no different.

Cashless Payments, The Next Business Driver

When it comes to accepting cashless payments for goods and services, mobile payments is becoming the major technological driver. This has been due to its unique characteristic and ability to reach both the underbanked and unbanked sectors of the economy who form 80% of Ghana’s population. There has never been a better time to assess your business’ readiness to exploit the emerging opportunity for commerce in a cashless economy than now.

From cash to cheques, to credit cards and debit cards, and now to online banking and mobile commerce, payment methods and rise of mobile phone penetration is changing the way business accept payments!

MPower Payments, the foremost digital payments enabler in Ghana is propelling new innovative channels for businesses seeking to benefit from the cashless revolution. MPower recently introduced the MPower Mobile Point of Sale application (mPOS) to allow businesses operating from any physical location to accept various forms of cashless payments.

mPOS is designed to work across a wide spectrum of industries; from supermarkets, restaurants, hotels, salons, small shops, to delivery agents. No matter the business size, mPOS is easy to set up for various store locations or at multiple sales points within a single store.

Customers purchasing from mPOS enabled merchants can choose their preferred mode of payment – be it their MPower wallet, mobile money on any network or bank card. The mobile nature of mPOS means the point at which payments is made is not restricted to stationary cash registers and this can potentially go a long way to reduce queues. Businesses on the other hand will no longer lose sales from customers carrying limited cash. mPOS simplifies daily sales management and eliminates the risk of transporting physical cash to the bank.

MPower seeks to make mPOS accessible to every businesses by removing the financial barriers to inclusion hence set up is currently free.

Get started at www.mpower.com.gh or call MPower on 0202532273 to request a demo.

–First published on www.GhanaWeb.com

We are in the golden age of technology. Within the larger movement; however, each one of us is directly influenced by the take off of a more recent and rapidly developing financial technology (FinTech) space—an industry projected to attract approximately $20 billion in funding by 2017, estimates Statista.

Financial technology is a democratizing force that can change our lives by making financial tools and services accessible, faster and more easily understood — most times at a lower cost. Complex algorithms now often take the place of traditional advisors, perhaps offering more efficient and personalized products for end users.

From budgeting tools to alternative lending and investment options, payments processing, and philanthropic platforms, we have a lot to gain from the advent of financial technology startups. Learn below about just a few ways in which you can leverage these hot new platforms before they inevitably become common applications for the entire public.

Payments Made Easy

The advent of payments technology has made consumer spending, and all other forms of payment easier, faster, and more secure. Payments technology startups, such as Square, help small businesses get off the ground by adopting easy to use and cheaper credit card payments processing. Instant, reliable transactions are important for day-to-day sales, along with employee payroll processing.

Venmo, a payments app, has provided a “free digital wallet” to the mobile devices of thousands, by allowing friends to connect quickly and securely via Facebook to request and send money to each other in a few taps on their phones. Furthermore, on the consumer side, platforms such as Apple Pay and Bitcoin continue to disrupt the traditional method of pay. When sending money abroad, individuals should consider using money transfer services such as TransferWise to save on international transfer fees.

Lend a Helping Hand

Peer-To-Peer (P2P) business models have fueled a new sharing economy revolution, with many products and services such as home rentals, cleaning services, and anything else under the sun being “uberized.” New FinTech startups have uberized the online lending space, allowing you to access funds through unconventional ways, without the help of big-name banks or a network of established lenders.

Platforms such as U.S.-based LendingClub and Prosper, and U.K-based Zopa have individually issued millions of dollars in loans, joining the rising number of tech unicorns in today’s entrepreneurial space.

Crowdfunding: The New Venture Capital

Investment in crowdfunding platforms may surpass venture capital funding in 2016. Popular sites Indiegogo and Kickstarter have helped thousands of ideas get off the ground – from bizarre video games to social projects and multi-purpose jackets, small businesses and entrepreneurs can now look to the general public for support. Countless other sites such as GoFundMe, which took off by bootstrapping, allow individuals to raise money for any project they like.

A ‘Bankless’ World

The headline of loan refinancing startup, SoFi’s website reads, “Great news: we’re not a bank.” Over the past few decades, we’ve seen a general distrust and loss of confidence in our traditional banking system, dominated by the big banks. After the Global Recession in the late 2000s, a new generation of startups hopes to fix the transparency issue facing big banks and provide consumers with more personalized and comprehensive services online.

Nasir Zubairi, venture partner at FinLeap in Berlin, commented on the FinTech industry, stating that “3 billion people, 50% of the world, do not have access to a banking system, and I think that FinTech can help in solving the problem around credit. There’s a huge opportunity for FinTech companies and of course for people who will benefit from their solutions.” Startups such as Kabbage, a small business lender, take into account a myriad of factors such as eBay data into account when determining risk, providing more of a data-driven service unhindered by the same regulations that restrict the traditional banking system. Countless other platforms such as CreditKarma offer credit risk services at zero or low cost.

Democratizing Investment Products and Services

Robo-advisors continue to gain traction as a provider of investment services once solely accessible to wealthier individuals who could afford their own financial advisor. An online advisor is now available through multiple platforms such as Wealthfront and Betterment. Wealthfront manages your first $10,000 free for a small fee of .25% after that while Betterment charges .35% to .25% annually or $3 per month. A series of questions, including an individual’s age, determines a user’s risk tolerance, which then determines the portfolio allocation for each specific individual. If you are unwilling or unable to invest your money yourself, or through a trusted financial advisor, an online platform is a much better way to direct your savings to their most effective use.

FinTech startups aren’t stopping at stock investment, however. For the growing number of Americans who seek involvement in alternative investing and philanthropic projects, the FinTech industry continues to deliver. Take Neighborly, a social venture helping you get involved in the municipal bond market. Neighborly’s Community Investment Marketplace allows you to make an impact directly in your community through safe and lucrative investing.

Budgeting: A Virtual Piggy Bank

As many tech startups target millennials, there’s a significant opportunity for business to facilitate the process of a new generation beginning to save, lend, and invest their money. Millennials don’t simply want to watch the purchasing power of their money wither away in a bank account; instead, they’re using budgeting and educational platforms to help them with a financial strategy. Alongside their robo-advisors, individuals can use budgeting platforms such as LevelMoney and Acorns that automatically track spending and income to give users a daily allowance for the day. This helps people grasp exactly how they are spending their hard earned dollars. Other platforms find creative ways to save you a dime. For example, Paribus scans users emails for receipts following a purchase to get money back in the case of a price drop.

The Bottom Line

FinTech is on the fast track to growth, and it’s not just investors who can benefit from the success. Be sure to stay up to date on the rapidly evolving FinTech sector, which will help drive a democratization of financial tools and services, from payments to wealth management and philanthropy. Ultimately, whether FinTech will take the place of traditional banking entirely is up for debate. However, the plethora of cost efficient and accessible financial tools and services will undoubtedly force the entire financial sector to transform.

Credit: Investopedia & JumpFon.com

“Text HOT to short code 1901 for the best music from your favourite artistes on your phone!”
“Be the first to know! Text NEWS to 1944.”
“Win airtime every day! Text FREE to 1902.”

You have most likely seen hundreds of these text messaging campaigns or heard about them, but wondered what these funky 4 or 5 digit numbers are, or where they come from.

Well, here’s your answer.

They’re called Short Codes.

As an individual or business, reaching out to friends, clients and customers in the most personal way – their mobile phones – should be of great interest to you. These days, more organizations and businesses are turning to short codes as the backbone of their SMS messaging and marketing campaigns, as they have realized that text message marketing is a very quick, inexpensive, and more productive way to reach their customers (or potential customers).

Short codes have also been made more popular in the last few years by a number of television shows that allow viewers to text a message to a short number. Examples include viewers sending a text message to a short code to vote for their favorite contestant of a reality TV show, or to make a charitable donation.

What is a Short Code?

An SMS short code is short numeric number (typically 4-5 digits) that is used to opt-in consumers to SMS programs, and then used to send text and multimedia messages, offers, promotions and more, to those customers that had previously opted-in. A consumer interacts with an SMS short code by composing a new text message on their mobile device, and addressing it to the SMS short code. In the examples below, the SMS short codes used are 1901, 1944 and 1902.

SMS Keywords

When a customer wants to opt-in to an SMS campaign, they’ll not only need to know the SMS short code, but they’ll also need to know the SMS keyword for that specific campaign. The SMS keyword helps a provider like SMSGH determine which SMS campaign the consumer is trying to opt-in to. Once received, the SMS provider routes the message through the SMS software, which then would send back a confirmation text message to the subscriber who originated the message. In the first example above, the SMS short code used by this business is 1901, and the SMS keyword is “HOT”.

Here are five things to appreciate about short codes, and how and where to get them.

1. An SMS short code service is one of the quickest and most effective ways to get your marketing campaign off the ground.

2. SMS marketing enables you to engage your prospective customers at the point of display, and you can quickly generate sales leads using SMS marketing. Wireless subscribers send text messages to common short codes with relevant keywords to access a wide variety of mobile content.

3. There are two kinds of short codes: shared and dedicated. Dedicated short codes are owned and managed by one body, are costly and take a while to set up. In Ghana it can cost anywhere from GHs5,000 to GHs7,000 per year and take up to 72 hours to get ready. Click here to get more info.

4. Shared short codes are used by many different bodies. Each business sharing a short code would be assigned a unique SMS keyword, which helps an SMS provider like SMSGH determine which SMS campaign a user is trying to opt-in to. The cost involved in setting up a shared short code is less than that for a dedicated short code.

5. If you text STOP or HELP to a short code, the service would respond. This is implemented to help users respectively end a subscription or learn more about the short code service, and is useful for managing these services.

Can’t wait to see what you can do with short codes? Get started today. Talk to a sales expert now. Or see short code pricing here.