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Banking and Cards Research
Digging into the Customer Experience: Banking and Credit Cards
Corporate Insight’s Bank Monitor, Credit Card Monitor and Small Business Card Monitor provide ongoing coverage of the products, websites and overall customer experience offered by the nation’s leading banks and card issuers. Our value-added banking and credit card research digs deeply to evaluate the retail and small business customer experience.
|Online Statement Centers|
Online Statement Centers are an important feature within online banking, allowing clients to view current and past statements, with well-designed centers having the ability to convince card holders to suspend paper delivery. In this Credit Card Monitor Report, we looked at what types of online statements are available from each issuer tracked by our coverage firms. Additionally, the ease with which users can locate the Online Statements Center is an important aspect, along with the length of the firm’s statement archive, and the options for clients to modify their delivery preferences, allowing them to choose to receive hard copy statements or to go paperless.
As we investigated each firm’s Online Statement Center, we focused on the following issues:
Among all Statement Centers, issuers provide between three and 36 months of immediately available statements, with two firms offering an increase in statement archive to clients who switch to paperless statements. In order to help provide the full statement experience to clients, 70% of firms offer the Important Account Information that is typically found on the back of hardcopy statements as a page within the downloadable PDF; two issuers offer this information as a separate PDF.
Firms are constantly trying to get clients to “go green” and switch over to paperless statements by suspending the delivery of hard-copy paper statements. Currently, 80% of issuers include private site ads that promote the availability of online statements. Additionally, all issuers now enable users to enroll in online-only statements through the private site, with all but one firm also enabling the restart of hardcopy statement delivery via the same private site tool.
Additional key findings include: