Effective Branded Caller ID for Banks

When it comes to reaching customers and potential customers, every missed call is a missed opportunity. And yet most calls go unanswered these days. This is due in part to people’s preference for texting, but it is also the result of rampant robocalls, spam, and other unwanted marketing attempts. So how can banks, credit unions, and financial institutions increase the odds of getting customers to answer their cell phones instead of sliding them back into their pockets?

The answer is branded caller ID.

Branded caller ID allows banks to display pertinent information, such as the bank name and location, on the recipient’s phone screen. Some branded caller IDs even show the company logo and reason for calling. This means that instead of seeing “Unknown Caller” or “Spam Likely”—words that immediately get calls ignored—customers will be more apt to answer the call. Branded caller ID is an effective tool to boost engagement via phone marketing. For it to be done right, marketers need to understand the different technological aspects of branded caller ID, as well as compliance standards and best practices.

In this blog, we’ll cover:

• Marketing and trust benefits of branded caller ID
• Technical and branding challenges across different devices and carriers
• Fraud prevention strategies and implementation best practices
• Actionable tips based on industry data and insights

Why Branded Caller ID Matters for Banks

According to one study, the average number of spam calls a person receives each year is around 360, or one per day. What’s more, 26% of the population loses money to spam calls each year. This not only creates an environment of distrust around phone marketing, but discourages answering the phone at all. So, it’s unsurprising that connecting with potential customers via phone is difficult.

Branded caller ID separates your institution from these potential scams. If a customer sees who is calling and why—say, “Fraud Alert,” “Loan Information,” or “Product Offer”—they will be more likely to answer. What might have been a cold call is instead an opportunity to connect with a trusted institution.

Key Benefits

• Increased Answer Rates: Branded caller ID boosts answer rates. Up to 76% of customers say they’re willing to answer a call that displays a name and logo.
• Improved Brand Perception and Visibility: Clear and consistent branding not only reinforces trust and professionalism, but it creates more touchpoints with customers and keeps your brand front and center in their minds.
• Faster Issue Resolution: Beyond marketing, branded caller ID can help expedite issue resolution, whether that be fraud alerts or account issues.
• Prevents Spam Misidentification: It allows customers to distinguish between real calls and spam calls.

Along with SEO, PPC, and content strategies, consistent branding via phone is an important marketing strategy to build trust, enhance results, and maintain brand visibility.

Navigating Device and Carrier Complexity

A big challenge that banks face with branded caller ID is the inconsistent experience across devices and carriers. Due to differing internal regulations and technologies, how your branded caller ID looks on one phone can be vastly different—or not appear at all—on another.

Platform-Specific Considerations

• iPhones (iOS): How the brand ID appears on iPhones is still tightly controlled. While they display caller name, the logo and call reason are not supported by Apple itself and is dependent on the carrier. Apple does intend to improve branded caller ID services in the future. In the meantime, banks can use Apple Business Connect to manage their brand.
• Android Devices: Androids are more flexible and open to branded caller ID solutions than iPhones, but logo display is still restricted. Like with iPhones, exact brand presentation is dependent on carrier and network and may require a specific application that is not available on all carriers and devices.
• Carriers: The major wireless carriers (AT&T, Verizon, T-Mobile) all have different branded caller ID programs, which means that customers will have different branded caller ID experiences. One way to mitigate this is through centralized registration, which lets banks register all their outgoing numbers into one database that all service providers can access. This allows for more consistent and accurate caller ID information to be displayed. It does not, however, guarantee that your logo will appear to a call recipient.

Branded Caller ID for Fraud Prevention and Compliance

Branded calling for banks can prevent fraud and maintain compliance. Spoofed calls or scams, where bad actors use your bank’s reputation to gain access to customers, can erode trust and put both you and your customers at risk.

How Branded Caller ID Helps Prevent Fraud

• Caller Verification: Seeing your name and logo alerts customers to when a call is legitimate.
• Reduced Spoofing: Specific branding, verified numbers, and call reasons make it less likely that scammers will impersonate your bank.
• Customer Reassurance: Branded calls assure customers that they are speaking to a real representative of your bank. This reinforces trust in your brand.

Compliance Best Practices

• Follow the National Do-Not-Call List: The Do-Not-Call list is updated regularly, so you should also update your system regularly to purge numbers that shouldn’t be contacted.
• Implement STIR/SHAKEN Protocols: These protocols essentially attach a digital signature to your call that allows carriers to verify your branded caller ID at both ends. They are becoming increasingly required by U.S. telecoms as a way to combat spam and robocalls.
• Have dedicated marketing lines: Different lines should have different purposes. For example, customer service, marketing, and collections calls should all come from different numbers.
• Respect Contact Timing: Be mindful of when you contact customers, and limit repeated attempts at outreach.

These practices align with the guidelines from BankBound’s marketing advisory team.

How Banks Can Implement Branded Caller ID Successfully

It’s important for banks to connect with their customers across all possible channels—including the phone. Here’s a step-by-step approach to implementing branded caller ID with confidence:

1. Conduct a Number Audit

Make a list of all your bank’s phone numbers and sort them by department, use, and call volume. This ensures there is no overlap in line usage that could lead to branding errors on the recipient’s end.

2. Register and Authenticate Numbers

To authenticate these numbers, register them with the Free Caller Registry. This will let them be recognized by all carriers.

3. Create Consistent Branding

Your branded visuals for caller ID should match your website, email templates, and mobile app.

4. Train Your Staff

Your team should understand the function and purpose of branded caller ID so they can appropriately respond to customer concerns if necessary.

5. Monitor Your Branded ID Presentation

Consistently monitor how your branded calls appear on customer phones. This can be done with customer feedback and third-party assessments. This allows you to make small adjustments or larger strategy changes.

6. Integrate All Your Marketing Strategies

Combine branded caller ID with SEO marketing services and PPC marketing services in order to maximize visibility and engagement.

Build Trust and Boost Engagement with BankBound

At BankBound, we know that every call is an opportunity to build trust and establish your brand. Branded caller ID reinforces your brand, protects your customers from fraud, and enhances visibility and engagement. Most importantly, it results in overall better marketing outcomes. Contact BankBound to get started today.