Financial printing requires much more diligence than other types of mailings. In a highly regulated environment, compliance is non-negotiable. However, you don’t have to produce all these things in-house and shoulder the responsibilities and cost burdens. You can outsource these jobs to transactional print and mail companies. So, what are your options?
What Financial Documents Can You Outsource?
Banks, credit unions, and lenders must provide a host of documents to their customers. Those mailings must follow all regulatory requirements, arrive on time, be trackable, and deliver information in an easy-to-read, branded format. Here’s a look at what a provider can offer you for statements, checks, and customer communications.
Statements: Improve Design and Engagement
The most common type of financial printing is statements for accounts, mortgages, investments, and credit cards. They are each unique but must follow the same rules.
These documents must convey important information but don’t have to be void of color, graphics, or imagery. In fact, you can customize these statements to include full color, graphs, and branding. Further, these statements can take advantage of design best practices to highlight critical elements like notices, due dates, and changes. You can also include dynamic messaging to each customer to promote other offerings or programs.
By improving the design, you can do the same for engagement. With a modern look, you could see some positive results, including:
- Fewer calls to customer service for common questions.
- Improved clarity for customers on due dates.
- Increased demand for more services highlighted in your statements.
- Better perceptions of customers toward your brand as one that’s professional and easy to do business with.
Checks: Ensure Security with a Trusted Provider
Checks also represent a considerable portion of financial printing and mailing. You may send customers checks for various things, from dividends to reimbursements. Working with a printer with expertise in secure check printing reduces the risk associated with producing these documents. You’ll need to assess their capabilities related to security aspects, such as:
- Customizable digital void pantograph (DVP) and authentication.
- Digital verification grid (DVG) for verification that the document isn’t a copy.
- Microprint signature line (MGL) to ensure no duplications.
- HALO features to thwart counterfeiting and enable a decoder lens to confirm authenticity.
- Prismatic Print, a technique blending two or more colors in the pantograph, which is nearly impossible to recreate.
A check printer will have these as a minimum and have processes in place that uphold security, accuracy, and quality.
Customer Communications: Send Customers Anything Compliantly
In addition to statements and checks, you may need to send customers various confidential communications. These may relate to updates about their accounts or notifications regarding payment changes to their mortgage. Disclosures are another segment of customer communications. Any document you send customers with private information can be part of financial printing outsourcing. You can expect consistency in quality across the board.
Financial Printing Outsourcing Yields Many Benefits
So, why should you consider outsourcing your statements, checks, and communications? The benefits are considerable and include the following.
- Reduce costs: You’ll no longer need equipment, space, technology, or materials. Transactional print and mail providers have a high volume, so their production costs are much less. They also use postage optimization strategies for the best rates. As a result, print and mail become an operating cost only, with no capital expenditures required.
- Remain compliant: Compliance is the heart of transactional print and mail, and these organizations check every box and exceed them in terms of regulatory requirements. They are constantly monitoring compliance and auditing to reduce risk.
- Improve accuracy: Advanced insertion technology and 2D barcodes scanned by mini cameras are the keys to every document reaching the correct envelope. A reliable partner provides this environment, virtually eliminating mis-mailings and protecting your brand’s reputation.
- Have peace of mind about security: Transmission of your data occurs through secure portals, and networks have all the fortifications to keep data safe and encrypted in transit or at rest. Data and physical security are constantly assessed and updated to give you peace of mind.
- Get customers to engage more: As noted above, redesigning your statements and being able to print dynamically can increase engagement. You can say goodbye to inserts that only end up in the recycling bin. Instead, the message is on the statement, giving it greater visibility.
Financial Printing: Rely on the Experts at PCI Group
If your financial institution is ready to evolve how it prints and mails, you need a reliable partner that is compliance- and security-focused. You’ll find no better partner than PCI Group. We only produce transactional print and mail and have the experience, expertise, and technology to ensure you reap all the benefits of outsourcing.
Get started today by contacting us for a free consultation.
