Author: Akis Chatzimeletiou
Date: 08/12/2020

Share this content :

SMS Trading Solution Overview

SMS is one of the best communications tools on the planet. It’s simultaneously a convenient way for subscribers to keep in touch with family and friends, and a versatile business tool that drives both productivity and customer outreach with open rates that would turn email marketing platforms green with envy.

But this wasn’t always the case. As we noted in a previous blog post, SMS was initially a tool used by mobile operators to inform subscribers about network issues. It was emphatically not intended to be the two-way communications juggernaut we know and love today. Nevertheless, SMS has come a long way since 1992, when a 22-year-old software programmer by the name of Neil Papworth sent the first ever text message with the words “Merry Christmas” to his colleague Richard Jarvis. Indeed, these days…

With this in mind, we’d like to introduce you to the Bank of Telecom (BoT) SMS offering, powered by Internet Mobile Communications (IMC).

Talk to our experts to learn more about Bank of Telecom!

What is SMS?

SMS (Short Message Service) is a text messaging service that enables mobile device users to exchange 160-character messages over cellular networks. It comes standard with most data plans and is synonymous with “Texting.”

KEEP READING: What’s the Difference Between A2P and P2P Messaging?

What is the Bank of Telecom (BoT) SMS offering?

At BoT, we enable the buying and selling of SMS (and voice!) interconnects, which are used to facilitate text messaging over cellular networks. With the BoT Platform as a Service (PaaS) solution, our customers have access to:

  • 250+ SMS interconnects, providing direct optimal delivery with minimal latency to hundreds of prime destinations worldwide
  • Global rate checks
  • Same-day settlements
  • And a complete portfolio of other value-added services

Indeed, BoT enables carriers, aggregators, and other traders to post their own SMS interconnects and set payment terms and scale prices however they like. They can also automate SMS and voice trading, make fast and informed commercial decisions, and boost their overall margins.

What is the BoT global rate checker?

Simple. The BoT global rate checker helps sellers make commercially driven decisions about how they price and sell their SMS and voice routes by giving them insight into how similar routes are priced globally. We collate all CLI and NCLI rates from our partners onto a single platform, making it possible for us to cross-reference global rates in a matter of seconds and ensure competitive pricing.

What is a same-day settlement?

A same-day settlement, as the name implies, is a transaction on which the settlement date occurs on the same day as the trade date. Relevant to BoT customers, this means we pay out the amount due on the same day that the invoice is submitted or in accordance with the payment terms.

For instance, let’s say you’ve sold SMS interconnects to another service provider and have agreed to a standard Net 7, giving the service provider 7 days to pay the amount due. Typically, you’d have to wait an additional three-to-five days following an initiated payment for the bank transfer to clear, rendering a Net 7 more like a Net 10 or a Net 12.

Not so with BoT! With same-day settlements, we pay the amount owed on the very first day it is due. This is particularly beneficial to smaller carriers since it means they don’t need cash on hand to trade.

Bank of Telecom’s other Value-Added Services (VAS)

BoT also offers the following value-added services:

  1. CLI and NCLI Voice Testing — To assure CLI and NCLI voice quality, we test all routes using Arptel. This service is automated and operates in the backend.
  2. Voice Traffic Cleansing — By blocking or blacklisting all invalid and short numbers, BoT can help improve the traffic profile hitting vendor routes, thereby improving route performance and revenue.
  3. Voice Transcoding — Voice transcoding helps build traffic volumes and revenue. With voice transcoding, customers can ensure all calls are transcoded to compatible codecs, thus improving their ASR value.
About Internet Mobile Communications (IMC) 
Trading under the Bank of Telecom brand, IMC provides a rich portfolio of voice, SMS, data, and international settlement services to the global carrier community. IMC developed, owns, and operates the Bank of Telecom, which carries billions of international minutes each year, across hundreds of routes from 1,600+ carrier interconnects in 130+ markets.

To learn more about our SMS trading platform, set up a call with one of our experts!