Tag: Paper Statements

How To Talk To Your Kids About Paper Statements

Bank Efficiency

The now-famous Ally Bank commercial of 2012 that asked two kids if they want a pony goes down as one of the most effective in banking history. Two girls are asked if they want a pony, and while the girl in blue gets a toy pony, the girl in orange gets a real pony. Disappointment ensues to the Blue Kid and the moral, of course, is even kids know it’s wrong to treat others differently. While an effective commercial and a nice lesson for the grade-school set, it is a poor lesson for bankers not to mention both intellectually and emotionally disingenuous.

 

Getting Rid of Paper Statements in Banking

Increasing Bank Productivity

In the quest for greater efficiency, getting rid of paper is low hanging fruit. A typical community bank has done a good job, but they are still generating paper statements for 50% of their accounts or more. The good news is that the percentage of electronic statements has doubled over the past two years so banks are doing a good job at conversion.  The bad news is that some banks are approaching e-statements for 70% of their accounts.

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