Multilayer Security: Enabling a Sustainable Alternative to Paper-Based Customer Communications

Companies of every ilk stand to potentially save millions by moving the bulk of their paper-based communications with customers online. For instance, one recent article estimated that a major bank could save $100 million or more in annual savings if every customer chose electronic statements. However, consumer concerns about online security can create a barrier to realizing the savings - both hard costs of paper, printing, and postage as well as the reduced environmental impact. A new green banking study by Javelin Strategy & Research highlights the issue. Its findings show that 3 out of 4 consumers still opt to receive paper statements instead of electronic ones. In healthcare, despite heavy consumer interest, privacy concerns plague initiatives such as online medical records.