ZeptoMail for fintech transactional email needs

What is a fintech organization? 

Any organization or business that provides technology to replace traditional financial services are fintech organizations. They can range from banking, trading, and insurance organizations, to payment platforms and investment platforms. These businesses are often collectively grouped as banking, financial services, and insurance (BFSI) providers.

What is a transactional email in fintech? 

Do you remember the last time you actually walked into the bank to make a transaction? Probably not. Banking and financial services have evolved leaps and bounds in the last few years to digitize every small functionality. Banking processes that used to need long forms are now just a click away as a website or a mobile application.

This digital revolution has also brought on the need for multiple technologies that a fintech requires to run everyday business. Sending email is a major part of this requirement. And among emails, the most important of them for a fintech is transactional email.

Say you own a bank and a customer walks in and transfers money into a friend's account. The employee at the counter informs them that it’s deposited and hands them a receipt. In today's technology-driven world, your customer simply makes the transfer on their mobile application or website, but they still need a receipt and there's no employee to give them one. This is exactly where transactional emails come in. Once the amount is transferred, you send an email to them with a receipt and information about the transfer. Transactional emails from your business are the acknowledgement to any action your users make on your site.

Even with all of the new and fancy modes of communication available today, email is still considered the king of official and legal communication. This is more true for the fintech industry than for any other industry. Transactional emails are the most important among them, and they come with multiple benefits when they’re done right.

The importance of transactional emails in fintech 

The significance of transactional emails in fintech organizations is multifold. We discuss some of these characteristics below.

Seamless communication 

Every step of a customer journey requires a transactional email. They help keep the line of communication open without any long gaps.

Engagement opportunity 

Transactional emails have eight times more open rates than marketing emails because they carry essential information. They’re your golden ticket to customer engagement.

Brand trust 

Transactional emails act as an acknowledgement for a transaction your customer has made with you. In the fintech industry, it’s often a very important transaction and delivering the acknowledgement promptly can help build trust among users.

Better customer experience 

Transactional emails are one-to-one emails that carry information specifically personalized to the customer. Receiving this personalized information at the right time can boost your customer's satisfaction with your business.

Customer retention 

Happy customers are loyal customers. Trust and good customer experience are key to this. By delivering transactional emails reliably and swiftly, you can keep your customers happy and increase their confidence in your business.

Easy access to data 

Transactional emails in the financial sector usually come in the form of trading reports, monthly statements, transaction history, investment portfolios, etc. By sending these emails, you provide your customers easy access to important data that’s relevant to them at the time.

Improve account security 

Transactional emails also inform users of activity in their account. This function is extremely crucial when it comes to fintech because it keeps your customers well-informed. Sending these emails instantly can help block suspicious activities and boost the security of customer accounts.

Types of transactional emails in fintech 

There are multiple types of transactional emails that are sent from the BFSI industry. Some examples are:

1. Onboarding emails

2. Educational emails

3. Account notifications

4. Reminder emails

5. Transaction updates

6. Invoices

7. Trading and investment reports

8. Payment confirmations

These are just some of the common examples of fintech emails. Depending on the business you run and your core function, the transactional emails you send may vary.

Take a look at our article on the different types of finance sector emails for more details.

Getting transactional email delivery right for fintech 

With so many benefits available to reap, getting the delivery of transactional emails exactly right is crucial for most business and even more so for fintech organizations. When it comes to the finance sector, there are three key requirements to remember in transactional email delivery:

 1. Deliverability and inbox placement 
Imagine having to ask your customers to look for their OTP emails in the spam folder or having to deal with heaps of complaints about missing invoice emails. It does not reflect well on your brand and does not instill trust in your customers. The first and foremost requirement of transactional email delivery is that it is delivered to the customer’s inbox instead of being sent to spam or, worse, rejected.

 2. Speedy delivery 
A huge percentage of transactional emails from the fintech industry are time-sensitive—be it verification codes or security alerts. Keeping your customers waiting for these important emails, like delivering OTP emails after they’ve expired, makes for a terrible customer experience and can lead to a decline of customer trust and brand reputation. Instant delivery of transactional emails ensures that your customers are satisfied.

 3. Security and privacy 
Transactional emails are known to carry important information. When it comes to the fintech industry, these emails often carry confidential and sensitive information specific to your user. Ensuring the safety and privacy of these emails is of utmost importance to protect your customer's data.

All three of these aspects go hand-in-hand in getting transactional email delivery right; none of them are optional. To make the best of transactional emails, you need to pick a transactional email service that provides and ensures all three of these requirements.

Best practices for transactional email sending 

Here are some pointers to help you make the best of sending transactional email:

• Choose a transactional email service
  Picking the right transactional email service that focuses on good delivery is important.

• Choose a domain
  Choose an email sending domain that has a good track record to leverage the good sender reputation, and to look professional while communicating with your customers.

• Create the content and subject
  Craft the email to include relevant personalized information about the action. It’s best to avoid misleading content or subjects that are included with the intent of promotion.

• Ensure security
  A critical concern is making sure the highest level of security for transactional emails from your side is enabled.

• Remember device compatibility
  Transactional emails can be accessed from any location and any device. Design and create your transactional email to be compatible with any device.

• Include a plain-text version
  While sending important information, it’s always best to include a plain-text version that can come to the rescue of users with poor network connections.

• Monitor performance
  Your job doesn't end with sending the transactional email service. Ensure that you keep tracking the email to know how it performs in your recipient's inbox.

How to pick the right transactional email service 

With multiple email services to choose from, picking the right transactional email service can be confusing. Here’s a checklist that can guide you in picking the right service for you:

• Good deliverability: Emails have to reach the user’s inbox instead of ending up in the spam folder or being rejected altogether.

• Fast delivery: Transactional emails need to be delivered instantly after the user triggers an action.

• Security: The email service should operate with a security and privacy-first approach to sending email.

• Technical assistance: A capable and knowledgeable team of technical experts should be available to assist when needed.

• Reasonably priced: The email service has to be reasonably and affordably priced for all volumes of email sending.

Zoho ZeptoMail checks all of these boxes, making it the right choice as your transactional email service. Let's see how it checks the boxes.

Why should you pick ZeptoMail? 

• Great deliverability
  ZeptoMail was built with an exclusive focus on transactional email delivery. We do not allow users to send promotional or marketing emails from our platforms. Marketing emails could be marked as spam by the users and it could affect your sender reputation. Sending marketing emails and transactional emails from the same platform can affect the delivery of your important transactional emails as well. By eliminating promotional emails from our system, we ensure a good sender reputation and, in turn, great email deliverability.

• Instant delivery
  Transactional email delivery and marketing email delivery are very different. The former is optimized for quick delivery while the latter is optimized for maximum engagement. ZeptoMail was crafted with a focus on transactional email delivery, which means that our email sending is optimized to deliver your transactional emails instantly. In fact, our time to inbox numbers are among the best in the industry.

• Secure email service
  ZeptoMail has multiple layers of security measures in place to protect your transactional emails starting from well-protected data centers, data encryption, and access security, right down to additional security features available to users inside the ZeptoMail interface. As a testament to our security commitment, ZeptoMail has been awarded with multiple industry-standard compliance certificates.

• Extensive technical assistance
  With something as important and time-sensitive as transactional email sending, your service should be available to extend the right technical assistance at all times. ZeptoMail provides extensive support through a capable and knowledgeable technical team around the clock—all at no extra cost.

• Extremely affordable
  Unlike most competitors, with ZeptoMail you aren’t locked in with monthly charges. You won’t be forced to pay for features you don't use and emails you don’t send by the end of the month. We give you a pay-as-you-go pricing plan where you buy email credits, use them up, and only buy more if and when you need to send more emails. Each email credit lets you send 10,000 emails and is valid for up to six months from purchase. This flexible pricing makes ZeptoMail affordable for businesses of all sizes.

• Comprehensive email insights 
  Keeping an eye on transactional emails helps improve email performance. ZeptoMail gives you insight into every email sent from the platform using detailed logs, email tracking, click and open tracking, extensive reports and more. It makes troubleshooting and performance improvement hassle-free.

• Scalability
  ZeptoMail is scalable for high email sending volumes, and has been used by 55+ Zoho applications to send transactional emails for nearly a decade. We send an average of 400 million emails every month from 5,000+ external organizations using 25,000 domains.

Wrapping up 

Transactional emails might appear mundane, boring, and an operational activity at first glance. But transactional emails are the most important type of email sent from a business and more so for fintech organizations. They’re key to customer satisfaction, engagement, security, and communication. Using the information we’ve presented in this article, you can equip yourself to make the best of these transactional emails with a service like Zoho ZeptoMail.