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Inexpensive E-Statements Do Not Have to be Cheap

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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.

Published in: Business, Technology
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Inexpensive E-Statements Do Not Have to be Cheap

  1. 1. Inexpensive Doesn’t Have to be Cheap Your E-Statement Choice Matters
  2. 2. LKCS
  3. 3. Account Holder Benefits • Enhanced Security • Faster Statement Delivery • Availability of Account History • Environmentally Friendly
  4. 4. What do they see….
  5. 5. What’s missing? • What about the user experience? • People know what to expect when they open an envelope. What will they experience online?
  6. 6. 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?
  7. 7. 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
  8. 8. Branding
  9. 9. Reformatting
  10. 10. 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?
  11. 11. Mobile Users • Over 25% of U.S. internet users ONLY use mobile devices.
  12. 12. Text Messaging • Account holders specify notification preferences.
  13. 13. 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?
  14. 14. Quick Poll • How are you integrating marketing into your e-statements?
  15. 15. On the E-Statement • Banner Ads – Link to web pages or PDFs – Appear for all account holders or selectively
  16. 16. On the E-Statement • Statement Ads/Onserts
  17. 17. Color Doesn’t Cost More
  18. 18. On the Notification • Custom E-Statement E-Mail Notification
  19. 19. On the Way In • Custom Login Page
  20. 20. On the Way In (cont.) • Integrated Login
  21. 21. 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?
  22. 22. LKCS Reporting
  23. 23. Questions? • Questions/Comments Sid Haas Vice President of Business Development Direct 815-220-3904 sid.haas@lk-cs.com
  24. 24. Thank You Thank You!

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