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eStatements

Switch to eStatements and experience higher than average paperless adoption, increased traffic to your portal and immediate, hard cost reductions.

Paper billing and statement presentation are inevitable expenses. Billers, banks and other financial institutions are eager to go paperless for all customer communication. Despite investing significantly in online banking and online bill pay initiatives, many banks and billers have not achieved the necessary customer adoption rates to reach paper turn off targets.

Adoption of paperless billing is achieved when customer convenience is prioritized. Simply put, when it is as easy as opening a paper envelope to get a statement, customers will turn off paper. As is clearly indicated in the graph below: email is the electronic alternative sought by customers today.

Striata's eStatement Solution drives paperless customer adoption


Striata's eStatement solution enables billers and financial institutions to replace paper statements with rich, interactive, secure electronic documents that are delivered directly to customer inboxes. It does not require customers to proactively enrol and remember usernames and passwords to retrieve their statements. It succeeds because customers respond reactively...

Customers receive the initial electronic version of their statement through an innovative 'one-click' methodology and agree to have all future statements delivered as electronic documents only.

For added convenience customers can also save and view the eStatement offline or outside the email client, with all the security features intact.

Because convenience drives customer adoption, this delivery channel can be used to expand and complement existing online services, ultimately helping companies achieve their paper turn off targets.


Striata eStatements offer dramatically increased security

Concerns over phishing for financial institutions are particularly acute. Consumers are wary of notification emails linking to websites, where they are required to login to view personal account information due to constant phishing emails that attempt to mimic notifications.

Striata eStatements, created as encrypted PDF or EMC email attachments, should only be accessed through the use of a shared secret, which is made up of personal data known only to the biller and the recipient, such as date of birth and last 4 digits on the credit / debit card. Security of the eStatement is fundamentally two-factor authentication; recipients need access to their email inbox plus knowledge of the shared secret. Security is further enhanced by the decryption process, which is offline and local to the recipient's computer.

What makes Striata eStatements so secure?


  • The customer is able to decrypt and view the entire detailed eStatement without having to visit a single web page.
  • The body of the email contains partial information about the customer which a fraudster could not replicate.
  • Emails are digitally signed to prove the authenticity of the sender.
  • Email servers are authenticated by the use of DKIM and SPF.
  • The eStatement can be stored locally on the customer's computer, with all of its security protections intact.

Through collaboration with Iconix (USA-only), Striata customers can quickly identify and trust messages when they see an image of a specific brand through all of the items that reside in the inbox, thereby eliminating the need to identify what is SPAM and what is not.

There are multiple 'trust builder mechanisms' in the message delivery process and within the eStatement - enough to intuitively assure customers that the eStatement is from a legitimate source. The added value, which enhances consumer trust, is that links within the eStatement are trusted links, as they are protected by the shared secret process.


The Striata eStatement Advantage:


  • Significant savings - Significant reduction in postage, paper, printing and distribution costs.
  • Mobile ready – Striata's PDF eStatements are viewable on all email enabled mobile devices.
  • Low take-up costs - Rapid implementation, available as a SaaS, no software or infrastructure purchase and no risk, pay per use pricing.
  • Support for corporate e-communication strategies - links within the eStatement effectively drive qualified customer traffic to the online portal.
  • Effective use of customer touch points - Striata's advanced profiling technology allows for fully personalized marketing offers that can be included at almost no additional cost - incorporating targeted, relevant messages based on demographic, psychographic and usage information - with accurate tracking functionality, facilitating customer insight reporting.