📲 The Messaging Revolution in Lending

How Solutions by Text Is Redefining Engagement, Trust & Payments

By David Baxter, CEO of Solutions by Text
Presented at the LendSuite Conference 2025 – Great Room Wed, Mar 12, 2025, 10:00 AM - 10:30 AM (EDT)

TL;DR: From bill pay behavior to the rise of RCS, this session walked through how messaging is becoming the new infrastructure for consumer finance. With staggering opt-in rates, better compliance tools, and real-time communication, SBT is showing why your next customer interaction probably won’t happen in an app—or an email—but over text.

🚀 From AOL to RCS: A CEO’s Journey

David Baxter’s professional path—from America Online to ACI Worldwide to now leading Solutions by Text—has given him a front-row seat to how people want to transact, communicate, and manage money.

During the height of COVID, Baxter was asked to consult on a Dallas-based messaging firm. That company? Solutions by Text (SBT)—a compliant, in-and-outbound messaging platform used widely in consumer finance.

“It started as a lifestyle business. Now we’re leading the category in compliant messaging—and transforming how people pay their bills.”

💬 Why Messaging Matters More Than Ever

Baxter’s belief is simple: the consumer will win, and messaging is the most effective way to meet them where they already are.

📱 Messaging vs. Email:

• Only 21% of emails are ever read

• 95% of texts are opened within 5 minutes

• People check their phones 22+ times per hour

• Gen Z & Millennials send/receive 170+ texts per day

📊 Messaging Powers Real-Time Financial Engagement

According to Baxter:

• 7 billion bills are generated annually

• $17 trillion in consumer spend

• 40% of that is in consumer finance

• 90% of delinquencies happened due to a missed alert

“Messaging isn’t just preferred—it prevents delinquency.”

📱 The RCS Revolution

RCS (Rich Communication Services) is the next wave—offering app-like experiences without requiring a download. Verified by Apple and Google, RCS brings branding, authentication, and security into everyday messaging.

🔐 Why It Matters:

• Eliminates app fatigue

• Allows real-time ID verification

• Enables secure card delivery + account setup

• Establishes trust via logos, shortcodes & branded messages

“RCS will be the app killer—and a game-changer for consumer lending.”

📈 Real Numbers from Real Users

Solutions by Text worked with Datos to survey thousands of consumers applying for financial services. Here’s what they found:

“Half of Millennials and Gen Z would leave your institution if they can’t text you.”

💡 Efficiency Gains: The 2-Minute Resolution

One SBT client—a top 10 card issuer—moved hundreds of agents to text-only support.

• 📞 Average call time: 8 minutes

• 💬 Average text resolution time: 2 minutes

“Speed, accuracy, and user preference. Text delivers all three.”

⚠️ Why Compliance Still Matters

Consumers fear fraud. Carriers are strict. RCS and SMS must still follow rigorous compliance and content standards.

SBT addresses this through:

• Verified shortcodes

• Secure content controls

• Branded conversations

• Locking down messaging workflows to stay on the right side of regulators

🧠 Key Takeaways for Lenders

✅ Consumers expect mobile-first communication
✅ Text is faster, preferred, and more trusted
✅ RCS unlocks new secure experiences
✅ Messaging is no longer optional—it’s foundational

“Most payments are made because of an alert or reminder. That’s real-time influence—and it’s where lending is headed.”