Absa has successfully extended its electronic statement service to its credit cardholders. Launched in July 2003, this new offer from Absa enables credit cardholders to receive their monthly statements through a secure e-mail process. Absa's electronic statement solution is run on Striata e-billing software deployed within the bank's infrastructure.
Absa first launched electronic statements in December 2002 to customers of its Vehicle & Asset Finance division, formerly known as Bankfin. Approximately 85 000 statements have since been sent to Vehicle & Asset Finance customers through this facility.
"Electronic statements provide flexibility, immediacy and convenience for our customers. It also enables the efficiency of electronic archiving for future reference," says Alfie Naidoo, Absa's Managing Executive, E-Channels.
The response from Absa customers has been highly positive. Since launching to credit card customers, Absa has sent over 800 000 statements through Striata's e-billing application.
As part of the launch, Absa delivered a marketing communication by e-mail to credit cardholders. This process included the distribution of Striata's security module, as well as information on the availability and benefits of the service. The security module was distributed using various electronic channels to accommodate for client preferences. It was available via an Internet download, e-mail command and as an attachment to the launch e-mail itself. The call centre experienced little to no surge in call volumes during the launch period, indicating that the process for installing the security module is quick and easy for customers to follow.
"Absa's roll-out has boosted the number of bills distributed locally through Striata's e-mail process to an estimated 110 000 per month," says Michael Wright, CEO, Striata.
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