For years, banks and credit unions have encouraged accountholders to switch to e-statements by highlighting environmental benefits. While reducing environmental impact is important, it hasn’t been the game-changer many expected.
What truly motivates people to make the switch? Security.
Mail fraud, identity theft, and phishing attacks are at all-time highs. A single stolen statement can give a fraudster everything they need to drain an account, open new credit lines, or take out loans in someone else’s name.
The Real Risk: Fraud Is Getting Worse
Together, identity theft and account fraud cost consumers billions every year (a record $10.2 billion in 2023), and criminals are only getting more sophisticated.
Physical mail theft remains a serious threat, with the Federal Bureau of Investigation (FBI) and United States Postal Inspection Service (USPIS) issuing this joint PSA in January of 2025: “The FBI and USPIS are warning that check fraud is on the rise, with a significant volume enabled through mail theft. Suspicious Activity Reports related to check fraud have nearly doubled from 2021 to 2023.”
For banks and credit unions, shifting the focus from paperless to protection is more than a messaging change – financial data protection is a way to build trust and help accountholders make safer choices.
A Smarter, More Secure Choice: Paperless Banking Benefits
Secure e-statements aren’t just convenient – they actively protect accountholders. Here are just a few paperless banking benefits:
- Eliminate stolen mail risks– No physical statements means no opportunity for theft.
- Reduce phishing risks– Secure portals prevent scammers from intercepting sensitive documents.
- Reinforce trust– Accountholders feel safer knowing their financial institution is prioritizing security.
How to Drive Adoption
Many consumers see the financial data protection benefits of digital banking, but switching to e-statements isn’t always top of mind. Financial institutions can increase adoption by:
- Reframing the message– Security is the true driver of change. Leading with protection makes a stronger case than convenience or sustainability alone.
- Addressing common concerns– Some accountholders worry about losing access to records or navigating digital tools. Clear, simple guidance can ease the transition.
- Offering extra protection– Incentives like enhanced fraud monitoring or account security alerts make the switch even more compelling.
From Paperless to Protected
While going green is a great benefit, keeping accountholders safe is what resonates the most.
When financial institutions make security the centerpiece of the conversation, the paperless e-statement option becomes a critical layer of protection.
Ready to make security the priority? The Jack Henry™ Marketing Center has a ready-to-launch e-statements campaign full of tools and resources to help you get accountholders to make the switch.
.svg)
