Comments on: What Reasons did Consumers Cite for Not Using Online Statements? http://www.theraddonreport.com/?p=1945 Research and Insight for Financial Institutions Wed, 25 Aug 2010 16:31:35 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: The Financial Brand » Blog Archive » In Brief: Snapshots of stories you may have missed http://www.theraddonreport.com/?p=1945&cpage=1#comment-1939 The Financial Brand » Blog Archive » In Brief: Snapshots of stories you may have missed Tue, 03 Nov 2009 20:09:30 +0000 http://theraddonreport.com/?p=1945#comment-1939 [...] eStatements: Raddon breaks down why consumers say ‘no’ [...] [...] eStatements: Raddon breaks down why consumers say ‘no’ [...]

]]> By: Jeff Hines http://www.theraddonreport.com/?p=1945&cpage=1#comment-1779 Jeff Hines Wed, 23 Sep 2009 02:36:04 +0000 http://theraddonreport.com/?p=1945#comment-1779 I guess I don't understand the issue with security, as I really thought most people had overcome online fears by now. Especially with regard to financial institutions. How often do you hear about a security breach involving e-statements? It doesn't make the news...ever. The reality is that e-statements are no less secure than on-line banking in general, considering they're a feature within an online banking platform. But guess what...whether you're signed up for e-statements or not, there's a strong chance your statements are already sitting on a web server anyway! Most banks/credit unions go ahead and load all of the statements for their clients onto the online platform. That way, when someone does sign up, they'll immediately have access to some historical statements. So knowing that these sites are extremely secure (they're governed by what they call two-factor authentication - if you don't know what it means, Google it), and that your data is most likely sitting out there anyway waiting for you to sign up, you might as well use the service and save the trees. Jeff Hines I guess I don’t understand the issue with security, as I really thought most people had overcome online fears by now. Especially with regard to financial institutions. How often do you hear about a security breach involving e-statements? It doesn’t make the news…ever.

The reality is that e-statements are no less secure than on-line banking in general, considering they’re a feature within an online banking platform.

But guess what…whether you’re signed up for e-statements or not, there’s a strong chance your statements are already sitting on a web server anyway! Most banks/credit unions go ahead and load all of the statements for their clients onto the online platform. That way, when someone does sign up, they’ll immediately have access to some historical statements.

So knowing that these sites are extremely secure (they’re governed by what they call two-factor authentication – if you don’t know what it means, Google it), and that your data is most likely sitting out there anyway waiting for you to sign up, you might as well use the service and save the trees.

Jeff Hines

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