There are several benefits of using SMS for financial services and banking, including:

1. Convenience: SMS is a fast and convenient way for customers to access financial information, such as account balances, transaction history, and payment due dates. Customers can access this information on the go, without having to log in to their online banking account or visit a branch.
2. Security: SMS can be a secure way to communicate with customers about their financial accounts. Banks and financial institutions can use SMS to send secure one-time passwords (OTPs) for two-factor authentication and other security alerts.
3. Cost-effective: SMS is a cost-effective way for banks and financial institutions to communicate with customers. Compared to other forms of communication, such as phone calls or postal mail, SMS can be more affordable.
4. Improved customer service: SMS can be a useful tool for providing customer service and support. Banks and financial institutions can use SMS to answer customer queries, resolve issues, and provide updates.
5. Personalization: SMS can be personalized to meet the needs of individual customers. Banks and financial institutions can use customer data to send targeted messages, such as personalized offers and promotions.
6. Increased engagement: SMS can be an effective way to engage customers and build brand loyalty. Banks and financial institutions can use SMS to send alerts about new products, services, and offers, as well as to solicit feedback and conduct surveys.
   Overall, SMS can be a valuable tool for banks and financial institutions looking to improve customer service, increase engagement, and enhance the overall customer experience.