StatementIP Benefits:

Efficient, Instant, Reduced Costs, Better Customer Support, & New Marketing Opportunities

StatementIP gives banks that issue commercial credit cards the ability to streamline the distribution of their clients' statements to improve efficiencies, drastically reduce costs, and improve customer service. StatementIP automatically delivers all the details of card purchases to the users' desktops. They have secure access to electronic statements 24 hours per day, 7 days per week.

By providing an online statement, the need to print and mail a paper statement is eliminated, saving the bank operational costs in the range of $.30 to $.50 per statement.

The bank’s cost of processing and posting payments manually ($2.50 to $3.00+) is eliminated.

The convenience of payment functionality within the application can help to reduce the typical float time from an average of 55 days to less than 30 days.

Call center traffic is reduced as users are able to answer many of their own questions by accessing both current and old statements that have been retained for their reference. Historically, the cost of each customer support call can be as high as $20, based on an average call time of 10 minutes (including hold time) at an appropriate cost of $2.00 per minute.

Customers are provided greater convenience, flexibility, and cost savings through StatementIP, which results in greater bank loyalty and longer-term relationships.

Online statements provides the opportunity to send electronic messages to your customers informing them of other products and services. You may also be able to collect customer information that allows you to conduct target marketing to specific audiences.