The statement is the bedrock of transactional communication with a bank and its customers – whether it’s a monthly bank or mortgage statement, a quarterly investment statement, or an annual escrow statement, these documents are a reliable source of summarized activity for your customers.
In an era of digital documents and regulatory reporting, bank statements no longer stand by themselves – they are often presented and viewed with related documents such as invoices, trade confirmations, fee notices, terms and conditions, and collection letters.
Statements, particularly annual and year-end ones, are sometimes mailed with reimbursements, payout checks, or tax forms such as Form 1098. These communications require specialized production that complies with checking processing and IRS reporting requirements.
During the digital transformation of communication over the past twenty years, the staying power of the paper document for high-profile communications such as statements has remained essential to every business. Nonetheless, digital counterparts have become a necessary part of business communication.
Some types of statements – such as the monthly mortgage statement – are often paired with a payment. With statement presentment becoming commonplace, often done even when the statement is printed and mailed, a statement program today requires an interactive e-pay option available for customers.
With ever-increasing mailing costs, many companies have started incorporating marketing material into their statement mailing, sometimes as an accompanying document or variable targeted messaging on the statement itself. A top-tier statement program will have the ability to accommodate these types of communication.
Pre-Production Processing
Pre-production is comprised of input data processing, page composition of the bank statement, and output file generation for all delivery channels. As turn times required by statement production can be as quick as 24 hours, the steps must be fully integrated and automated.
Omni-Channel Deployment
Driven by customer preference and government mandates, bank statement delivery channels include print & mail, email, mobile, and online e-statement viewing. They must be composed, produced, and delivered in full alignment with one another.
Information Management
Like any complex workflow, bank statement production relies on information to be successful. This ranges from real-time status reports during production to post-production reporting verifying 100% fulfillment and Service Level Agreements.
Change Management
Changes to statement content, design layout, and variable data fields are constant, sometimes changing from month to month. These changes can come from ever-changing regulatory policies and internal communication strategy, and must be quickly implemented, tested, and tracked for future reference.
Our bank statement printing solutions are leading the cutting edge within the CCM industry. We continually invest in our technology, people, and solutions to create excellence for the next generation, particularly their digital components.
