FICO survey shows credit grantors prefer letters but consumers prefer SMS

By 6th December 2017Industry News

LONDON — November 21, 2017 – “Stop sending us letters when we pay late and start texting us.” That was a resounding message from UK consumers in a new survey on lender communications by Silicon Valley analytics firm FICO. While 31 percent of respondents said credit grantors send late-payment reminders via the mail, making it the most-used channel, only 14 percent prefer that channel. The top preference was for SMS messages (42 percent), with email following at 23 percent

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