This community bank knew it would save two to three dollars per account per month for accounts that adopted eStatements. This printing, postage and people’s time savings could be significant if they could continuously promote use of eStatements to its customers.
After analyzing the bank’s current customers, FI Works developed a model that would identify customers that were most likely to use eStatements by looking at other digital delivery channels customers were using.
FI Works developed a model to identify the customers bankers should call on because they were likely to use eStatements. While the initial 40% response rate for the eStatement adoption campaign was good, the overall savings of $132,000 wasn’t huge – but it was $132,000 in savings every single year. In addition, by making eStatement adoption a permanent performance metric for the bankers, the eStatement adoption rates and related savings continue to grow every year.