On Friday I received an alert for an article titled "ANY THOUGHTS ON CHASE’S TEXT-2-WIN CAMPAIGN" posted on the mopocket.com site. The article is primarily focused on marketing, but covers an interesting challenge that we'll all face as we enter the world of mobile banking via text/SMS.
One of the author's primary concerns with the Chase campaign is that text messaging should be used to, "create conversations and interactions that in the end draw people toward your brand physically and/or digitally."
First, let me say that the author is absolutely correct - this would be ideal. Unfortunately, due to the inherent constraints of SMS technology, this is not an easy task. In fact, the truth is that while basic interactions via SMS are extraordinarily easy the more complex interactions (i.e. the ones used for dynamic conversations) involve "sessioning" and are much more challenging.
Think of it this way. If a client sends a message to the the bank that says "hist" the response is simple - the bank returns the clients most recent transactions. However, what information should the bank send to the client if they receive the command "more?" The answer - the bank would have no idea unless they also know what information has been previously sent to the client.