Excerpt below from the original post in: Get The (Text) Message? | ABA Banking Journal by Karen Epper Hoffman
Get The (Text) Message?
Amanda Payton, senior vice president of legal and regulatory affairs for Dallas-based Solutions By Text, has been involved in the mobile messaging market for two decades. She estimates that at least one out of five B2C mobile messages is financial-industry related. The past 18 months have “seen people stuck at home, demanding more two-way texting” with their banks as well as other businesses with whom they deal.
“If your consent is properly drafted, you will not need to opt the customer in every time you send a text—you will already have permission to send your recurring messages,” Payton says. Once consent is obtained, she recommends sending customers an opt-in confirmation text message right off the bat, “so you have a written record confirming the customer has enrolled in your text message program.” In doing so, financial firms can avoid the potential content and frequency limits in mobile communications.
Amanda Payton, Esq.
Senior Vice President of Legal and Regulatory Affairs