As a bank, your reputation is everything. People trust you with their assets, and in turn, you give them the confidence that their hard earned money is safe. Every single time you interact with your customers, they need to feel that continued confidence.
From customer service interactions, to your web experience, and even your statements, your messaging to your customers needs to communicate that they work with a trusted and professional institution.
When every single touchpoint is this important, it pays to know what tasks to maintain internally and which to outsource. Bank statements are an easy thing to outsource while simultaneously enhancing the professional perception of your bank. By outsourcing your statement printing and mailing services, your customers will receive professional quality statements quickly and efficiently. You will be guaranteeing the safety and security of your financial information, and you will be saving money.
Enhanced Marketing.
A reputable service will do more than just mail your statements. Modern printing capabilities exceed the capabilities that most in-house operations provide. By utilizing state of the art, sophisticated machinery, your customers can receive additional marketing materials with their bank statements.
By adding marketing inserts for minimal cost, your new innovative products and services gain excellent exposure with established customers. Your customers receive statements regardless, so enhancing them with the latest offers for special CD rates, mortgage offerings, or an enticing savings account is a smart marketing move that every bank should capitalize on.
Design Expertise
Your statements are a representation of you. You want each touchpoint with your customers to be polished, professional, engaging, and on-brand. Working with a printing service allows you to add specialized expertise to your team.
Design professionals at print and mail companies are working on invoices and statements for countless institutions. They stay current with the latest trends and know how to design clean, informative, and helpful statements for your customers. By doing this service for such a high volume of clients, they can offer a unique perspective that only someone in that position will have.
The collaboration you will get with a mail service will allow you to make adjustments, enhance your final product, and produce a high quality statement. When your reputation is so important to your customers, partnering with the right experts is invaluable to your organization.
Address Service
Even after your statements hit the mail, more work must be done. Keeping track of your customers, especially in banking, is a job that is never done. Trying to track down change of addresses for your customers is a never ending chore that must be done. Because of the nature of the statements and disclosures that you send, it is imperative that your mail makes it to your intended recipient.
Mail services have access to a tool that will save hours and resources. The USPS has a system called NCOA, the National Change of Address System, that updates every time a customer submits a change of address request. While banks and financial institutions can certainly track down new addresses through a complex process, professional mail services can do it with just a few clicks by using this system. This tool is an invaluable part of outsourcing mail services that is practically impossible to mimic.
Reliability
Mail experts become experts by repeating the same tasks over and over. Through time and experience, they are able to streamline processes. The ability to master printing and mailing and eliminate any opportunity for errors is one of the most significant benefits of partnering with an expert.
Financial information is sensitive, and the privacy of your customers must be protected at all costs. When someone receives mail from you with information about their finances, it must be secure, and it must be accurate. An established process guarantees accuracy and eliminates the opportunity for data mix-ups that can compromise the privacy of your bank statements.
By outsourcing your mail to an expert, their experience will become your greatest asset. They know precisely how to meet or exceed deadlines, produce high quality products, and keep crucial information safe. Outsourcing to an expert can guarantee that your reputation for being a great place to bank stays intact.
Cost Savings
Delivering accurate, high quality statements to your customers comes at no small cost to you. The price of mail can quickly add up when these tasks are done in-house. Over the course of a year, outsourcing the statements of 100,000 customers can save you hundreds of thousands of dollars a year. It is a shocking number.
Professional print and mail services can produce mail at such high volumes that it drives down the cost per piece. This savings gets passed on to you as the customer, who can eliminate mail tasks and lower costs simultaneously.
An outsourced print to mail service can revolutionize your statement process. Eliminate the task from your team, save money, enhance the statement experience, and maintain the trust of your hard earned customers.
