June 12, 2006

eStatement Adoption: Is The Glass Half-Full Or Half-Empty?

by Catherine Graeber

with Bruce D. Temkin, Peter Hult

Executive Summary (This is a document excerpt)

There's good news and bad news about eStatement adoption. The good news? eStatement adoption more than doubled in the 2005; 39% of online households received a bank deposit account statement online. Now for the bad news. Firms made little progress in weaning eStatement adopters off receiving paper statements. Just 8% of bank deposit account customers receive only an online statement. It's time for financial firms to get tough on cutting off the paper. How? By automatically turning off paper statements for new eStatement adopters, offering a printable statement in PDF format, and paying a small financial incentive.

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