eStatements
Striata's eStatement solution enables billers and financial institutions to realize immediate, hard cost reduction by replacing paper statements with rich, interactive, secure electronic documents that are delivered directly to customer inboxes. This innovative electronic statement presentment solution enables significant, instant and measurable paper cost take out.

Email eStatement Presentment provides significant, instant & measurable cost reduction from reduced paper output:
  • Significant savings - Significant reduction in paper printing and postage costs.
  • Fast, one click access to the eStatement from the customer inbox without visiting a website or logging in.
  • Ability to save and view the eStatement offline or outside the email client with all the security features intact.
  • Mobile ready - Striata eStatements are viewable on Blackberry and Windows Mobile devices.
  • Environmental benefits - eStatements drive paper turn off, helping companies reduce their 'carbon footprint'.
  • Effective use of customer touch points - eStatements provide effective, powerful real estate for personalized marketing offers.
  • 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.

Turning off paper equals immediate cost reduction

Savings from turning off paper are realized as customers agree to turn off paper. This agreement is achieved when eStatements are delivered to customers, rather than requiring them to collect them from a website.

Paper billing and statement presentation are inevitable expenses. Billers, banks and other financial institutions are zealous in their efforts to go paperless for all customer communication. The reality is that, although having poured significant resources into online banking and online bill pay initiatives, they have still not achieved the necessary customer adoption rates to enable them to realize their paper turn off targets.

Ironically, most financial institutions are now distributing more paper communications (statements and other documents) than before.

Striata's solution drives paperless customer adoption

The presentation and delivery of electronic statements via email, has proven to be a more convenient way for customers to receive, view and save their documents.

The added value of Striata's solution is that it does not require customers to proactively enrol and remember to retrieve their statements. It succeeds because customers respond reactively. They receive the initial electronic version and through an innovative 'one-click' methodology, agree to have all future statements delivered as electronic documents only.

eStatements also provide powerful marketing opportunities. They have the advantage of a captive audience, are far more effective than their paper equivalents and can be included at almost no additional cost. Striata's advanced profiling technology allows for fully personalized marketing offers - incorporating targeted, relevant messages based on demographic, psychographic and usage information - with accurate tracking functionality, facilitating customer insight reporting.

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

eStatements offer dramatically increased security

In the financial services industry, where concerns over phishing are particularly acute, it's proving to be more and more of a challenge to draw customers to online banking portals. Consumers are wary of notification emails linking to websites, where they are required to login to view personal account information.

Striata's solution doesn't have this risk, as its delivery channel makes it unphishable.

Striata's eStatements, created as encrypted PDF or HTML email attachments, can only be accessed through the use of a shared secret. Security of the eStatement is fundamentally two-factor authentication, as recipients need access to their email inbox, as well as 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 eStatement can be stored locally on the customer's computer, with all of its security protections intact.
  • The body of the email can contain partial information about the customer that no "phisher" could know e.g. last 4 digits of account number. (****1234), zip code etc
  • Emails are digitally signed to prove the authenticity of the sender.
  • Email servers are authenticated by the use of DKIM and SPF.
  • Striata and ePostmarks bring the trust and legal protections of the US Postal Service to email, through the use of the Electronic Postmark® and the protection of the US Postal Inspection Service.

    Through collaboration with Iconix, 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 (without extensive customer education.)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.