The DOXIM Blog

In this week’s instalment of solution related blogs, we’ll be talking about Enhanced Statements. Many organizations use data from their core banking systems to create basic printed statements. That may be sufficient for a simple paper statement, but these days, discerning customers expect an easy to read, attractive statement that looks the same whether it’s in print or online. 

The continued need to support the corporate brand, enhance the customer’s experience and reduce call centre inquiries are all important considerations for financial institutions, and something that basic print statements are just not able to accommodate. Further to that, financial institutions are increasingly looking for ways to target their marketing messages and campaigns to the right audience, all in an effort to improve efficiency, reduce costs and provide a higher level of customer service and effective communication. 

DOXIM’s answer to creating a more readable, attractive statement is our DOXIM Enhanced Statements composition process. It converts difficult to read, unattractive print outs into more attractive, easy to read statements complete with check images, targeted marketing messages and a custom look and feel. Doxim offers an array of flexible statement templates that can be customized to create statements that support virtually any design, and adhere to statement best practice standards. 

Check image statements ensure businesses can continue to make checks available to their customers once Truncation and Electronic Cheque Presentment (TECP) and The Check Clearing for the 21st Century Act (Check 21) are fully implemented. DOXIM Enhanced Statements composition process uses extensive matching and logic to help maintain data integrity and to produce check image statements with a high degree of accuracy.

Message Management

DOXIM Enhanced Statements composition process, allows financial institutions to communicate more effectively with customers by employing comprehensive message delivery that includes important marketing messages placed directly on the statement. These messages can be created so they are consistent with a company’s overall marketing campaign, so what a customer sees on the printed statement looks the same as what they would see on the web or other marketing collateral. This eliminates the need for separate printed marketing inserts and results in a significant cost savings.

Great Benefits

DOXIM Enhanced Statements composition process offers valuable benefits. It enhances the customer experience by delivering great looking, easy to read statements, and by including check images on statements allowing for various customer preferences, such as numbers of checks per page.  Eliminating traditional marketing inserts and placing targeted ads directly on the statement increases cost savings and allows for a more effective means of communicating with customers. 

Going Paperless

Once your statements are in a format that meets your requirements, the next logical step is to convert them into electronic statements, allowing customers the ability to view their statements and checks in an online environment. 

By combining DOXIM Enhanced Statements composition process with DOXIM e-Statements, banking staff can respond to customer inquiries by consulting an exact image of the statement without having to sort through print records meaning most customer service calls can be handled in one step. Converting paper statements into electronic statements also reduces costs associated with print and mail, transportation, storage and resourcing.

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