Inexpensive E-Statements Do Not Have to be Cheap
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Inexpensive Doesn’t Have to be Cheap Your E-Statement Choice Matters
description
There’s no question, your financial institution can save money with e-statements. Your account holders will also receive benefits with e-statement adoption such as faster statement delivery, increased security, and convenience. But, is there any reason why your users’ e-statement experience should be inferior than with paper statements? We don’t think so either. Yet many financial institutions are content with providing an unattractive e-statement with no user appeal or marketing value. There are better options. Learn more in this presentation.
Transcript of Inexpensive E-Statements Do Not Have to be Cheap
Inexpensive Doesn’t Have to be CheapYour E-Statement Choice Matters
LKCS
Account Holder Benefits
• Enhanced Security
• Faster Statement Delivery
• Availability of Account History
• Environmentally Friendly
What do they see….
What’s missing?
• What about the user experience?
• People know what to expect when they open an envelope. What will they experience online?
Financial Institution Benefits
• COST SAVINGS– Average savings $.50 - $.60 per account
holder per month!
But, at what cost?
Does a “cheap” solution cost more than an “inexpensive” one?
What are the differences between e-statement platforms?
Enrollment Process
• Remove any barriers– Simple enrollment process
• Online registration a MUST! No paper forms!
• LKCS – account number, last 4 digits of SSN, password, MFA questions (if applicable), disclosure
– Consider home banking single sign-on
• LKCS – multiple home banking providers, click one link and accept disclosure to enroll
– Easy Opt Out
• LKCS – settings check box to revert to printed statement
– IDEA: One Click E-Mail Marketing Enrollment
Branding
Reformatting
Multiple Document Types
• Are you only delivering monthly/quarterly statements electronically?– Daily Notices (insufficient funds, certificate renewals,
overdraft protection, etc.)– Credit Card Statements– Tax Forms (1099s, 1098s, 5498s, etc.)
• How much more could you save if all of these were provided electronically?
Mobile Users
• Over 25% of U.S. internet users ONLY use mobile devices.
Text Messaging
• Account holders specify notification preferences.
E-Statement Marketing
• Just because you are saving money with e-statements doesn’t mean you should sacrifice all marketing opportunities.
• How are your best account holders going to know about your latest specials and newest products?
Quick Poll
• How are you integrating marketing into your e-statements?
On the E-Statement
• Banner Ads– Link to web pages or PDFs
– Appear for all account holders or selectively
On the E-Statement
• Statement Ads/Onserts
Color Doesn’t Cost More
On the Notification
• Custom E-Statement E-Mail Notification
On the Way In
• Custom Login Page
On the Way In (cont.)
• Integrated Login
E-Statement Management
• How do you check or modify e-statement user settings?
• How many account holders signed up for e-statements during your last marketing promotion?
• How many total e-statement users do you have? Who are they? Who’s not signed up?
• Which e-mail addresses are bouncing back?
• How do you view an account holder’s statement?
And how difficult does this need to be? How easy can it be?
LKCS Reporting
Questions?
• Questions/Comments
Sid HaasVice President of Business Development
Direct [email protected]
Thank You
Thank You!
