We continue to see high rates of enrollment in our SMS text messaging system for shareholder alerts. In addition, we've recently expanded this capability to employee plan participants, providing additional convenience to these investors.
Since going live in recent weeks, we've already seen more than 62,000 plan participants sign up for text messaging alerts. This is in addition to the nearly 600,000 shareholders who have signed up via Investor Center, call center reps or our interactive voice response system to date.
Our current SMS options allow holders and participants to receive messages for a confirmation of sale, purchase of shares and transfer of shares. Holders also have the option of enrolling to receive future notifications, such as account alerts or transaction notifications.
Text messaging has the potential to increase efficiency and limit costs by letting shareholders get the information they need over the phone without speaking with a live agent or navigating an automated phone menu.
The future holds many potential uses for text messaging, including more transaction status updates (such as transfer confirmations), proactive communications related to accounts (such as uncashed checks or unexchanged shares), tax notifications and alerts regarding urgent conditions such as returned mail.