E-Statements and Stuffers

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Question:

We are starting the process leading up to electronic statements. I asked that marketing offers be optional links. I would like compliance issues, such as notices of change, to be prominent either at the top of the statement page and/or appear automatically and require action on the part of the customer to move past the notice. I don't know yet what I will get. If we have the technology to obtain customer consent to receive electronic statements, I would think this would be a piece of cake. Of course, I am not a programmer. How are others handling this?

Answer:

Our e-statements will be mailed out, encrypted. Special messages will be the first page and it will have to be "touched" to get to page two. This will actually be better than today's snail mail "toss the junk" capability.

We have pretty much decided that at this point to can the advertising inserts. If it is on the statement that is one thing, but if it is in it, that adds bulk and increases the download time.

I personally would be upset when my bank sends me a huge file that takes forever to download and is more advertising that statement. If I can't separate those pages, then I take up memory space archiving it. I don't want that and don't believe our customers do either.

First published on BankersOnline.com 11/15/10