Examining the role of text across the consumer lending and collections lifecycle.
Which channels are financial organizations relying on when customers need to act, pay, or resolve an issue?
SBT commissioned an independent survey of 150 senior decision-makers at banks, lenders, and collection agencies to benchmark how the industry deploys email, phone, text, direct mail, push, chatbot, and social messaging across the customer lifecycle.
The findings reveal a clear divide in the modern communication stack: text has become a trusted channel for driving action, but its role remains surprisingly narrow.
Inside the Report
See how communication strategies are changing across the consumer finance lifecycle, including:
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- Where each channel wins: How organizations use text, phone, email, push, and direct mail based on lifecycle stage, objective, urgency, and risk.
- The conversation gap: Why text dominates one-step, action-oriented moments but gives way to phone when the interaction requires dialogue or resolution.
- The role of text in payments: Why 59% of respondents name text their top channel for collecting payments.
- How risk changes the channel mix: Where organizations turn as customers move from good standing to at-risk and past-due stages.
- Where the industry is headed next: Which channels are expected to grow and the biggest communication challenges organizations are working to solve.
About the Research
The Consumer Finance Communication Stack survey was commissioned by SBT and independently fielded by Guidepoint from July 15–31, 2026. The study surveyed 150 U.S. consumer finance professionals at the Director level and above, including banks, credit unions, lenders, and third-party collection agencies.
