For eBusiness & Channel Strategy Professionals

Paperless Plight: Growing Resistance Outpaces Adoption Among US Bank Account Holders

Low Penetration Suggests A Change In Strategy Is Needed

    Why Read This Report

    With more US consumers accessing their bank accounts through multiple channels today, the value of a paper snapshot of their financial activity would seem to have shrunk considerably. And yet the percentage of US bank account holders who have given up paper statements averages just 24%. Worse still, 37% of account holders who receive a paper statement today say they will never abandon paper in favor of online statements. Soft selling paperless adoption on the strength of environmental and convenience pitches has been marginally successful at best. Banking eBusiness managers need to consider more aggressive tactics to eliminate paper statements, including requiring all new accounts to be paperless and setting a conversion deadline for all others.
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    TABLE OF CONTENTS

    • Access To eStatements Grows, But Paper Delivery Remains Dominant
    • A New Statement Model Is Needed
    • RECOMMENDATIONS

      Slow And Steady Won't Win This Race
    • Supplemental Material
    • Related Research Documents

    TOOLS & TEMPLATES

    • Models & Calculators:

      The eStatement Adoption Landscape

    • Models & Calculators:

      Few Incentives Appeal To A Broad Group Of Account Holders