Statements

Do You Love Your Statements?

Posted by on August 27th, 2014 in Statements

LKCS anticipates our clients’ needs, continuously improves our solutions, delivers outstanding customer services, and fulfills our promises. We make each of our customers look like the hero in their organizations. WE LOVE OUR CLIENTS! If you or any of your colleagues are unhappy with their current statement or e-statement provider, we encourage you to see why LKCS customers award us with an over 98% customer satisfaction rating.

Video Webinar

In today’s Webinar Wednesday episode, our Vice-President of Business Development, Sid Haas, discusses new ways LKCS can help financial institutions to re-ignite the spark in your statements and e-statements.

Video Transcript (Highlights)

Your Statement Design

  • LKCS can prepare your statements in just about any format or layout imaginable.
  • When LKCS begins programming you will be asked to let us know of any specific formatting options, styles or statement elements that you would like to incorporate.
  • Reformatting.
  • Flexible Statement Design.
  • Other Statements Daily Notices Credit Card Statements.

Your Statement Marketing

  • What is Transpromo Statement Marketing?
    • Transpromo is a compound expression formed from the words “transaction” and “promotional”.
    • By adding relevant messages, you can piggyback targeted promotions and advertising onto existing transaction-related documents, such as statements.
    • What is Transpromo Statement Marketing?
  • TAKE ADVANTAGE OF “FREE” POSTAGE!
    • Include targeted advertising with your statements.

Transpromo Options

  • Statement Ads/Onserts
    • LKCS print ads directly on your statements for pennies.
    • Ads sent to all members OR we can target specific groups of members to receive one or more of these messages.
    • You are no longer limited to short, text-only messages. Include graphics, logos, fonts, photos, etc. Even personalize the ads.
    • Same technology enables loan payment coupons, rate grids, regulatory notices, etc. to be delivered on your statements.
    • Design the ads yourself, select concepts from our online catalog, or have LKCS custom-design ads just for you.

Statement Letters

  • Include personalized direct mail letters as the first page of your account statements. NO EXTRA POSTAGE!
  • According to the DMA, personalized letters remain as the most effective direct mail method.
  • Use for pre-approvals, referral campaigns, skip-a-pay, investment relationships, welcome new members, etc.

One Time Use vs. Campaigns

  • All of the above examples were intended to support one promotion for one month.
  • How else could you utilize transpromo statement marketing?
  • Consider developing ongoing statement-based marketing campaigns
  • The advantages: – “Set it and forget it” (at least for a few months) – Take advantage of special opportunities – True one-to-one marketing.

Transpromo Statement Campaigns Ideas

  • New Account Holders.
  • CD Renewals.
  • Loan Payoffs.
  • Auto Loan Recapture.
  • Birthday Messages.
  • Loan Payment Coupons.
  • Kids Club/Teen Club/Senior Club.
  • New Mergers/Branch Acquisitions.
  • New SEGs.
  • Cross-Sell Opportunities.

Matrix Statement Campaigns

Series of statement onserts sent out over a period of months/quarters to cross-sell additional products and services to specific groups of account holders.

  • Same concept as Matrix Mailings.
  • Terrific solution for new account holders, mergers, new branch locations, new SEGs, expanded field of membership, etc.
  • Ability to run multiple matrices at same time.

Statement Marketing

  • Selective Inserting – Take statement stuffers one step further.
  • Target which members receive certain inserts. Selectively insert brochures, flyers and newsletters by criteria.
    • Account relationships.
    • Account balances.
    • Account activity.
    • Geography.
    • ANY other conditions identifiable in your statement data.
    • ANY other conditions identifiable in a separate control file.
  • Envelope Backprinting.
    • Try to open an envelope without seeing the back side.
    • The back of the envelope is a billboard. Use this space.
    • INEXPENSIVE – LKCS charges just over 1 cent per envelope.
    • Choose from our stock designs each quarter, have LKCS custom-design an ad for you, or supply your own unique ad.

Your E-Statements

  • Clearly the future for majority of account statement.
  • Including statement marketing is just as important All transpromo techniques can be incorporated into LKCS’ e-statements.
  • Inserts Delivered with E-Statements.
  • Banner Ads – Link to web pages or PDFs.
  • Appear for all account holders or selectively.

E-Statement Functionality

  • Premium user experience.
  • 12, 18, 24 months, or longer of statement history.
  • Easy e-statement self-enrollment with full compliance.
  • Home banking single sign-on, multifactor login authentication, or both.
  • Simple management and powerful reporting – access all member statements, activity, users, e-mail bounces, etc.
  • View multiple document types and multiple accounts.
  • Mobile-friendly, even optional text message notifications.
  • Advanced permissions: restricted account numbers, user roles, auditor access.
  • The integrity of your statement data is extremely important to LKCS.
  • We have numerous systems in place to protect the privacy of your account holders’ financial information. Accuracy and Security.

LKCS is SOC2 compliant.

  • We undergo annual SOC Type 2 audits.
  • Numerous information security procedures and policies are in place.
  • Employees are trained and tested on all computer and data policies.
  • Statement page and envelope counts are verified multiple times to account for each member statement.
  • All computer systems are behind NCSA- certified firewalls and routers.
  • Staff is notified of intrusion attempts.
  • All operating systems and applications are routinely patched and updated.
  • LKCS hires information security firms to regularly perform network intrusion tests.
  • We have a formal disaster recovery contract and plan in place with a company in Nashville, TN to provide statement processing services for our clients in the event of a disaster.
  • Our statement printing and inserting equipment has been custom-designed and configured to ensure unrivaled accuracy.
  • Barcodes and inserter marks are used for verification.
  • E-Statement data is encrypted and transmitted utilizing true 128-bit SSL security.
  • All employees undergo complete background checks before hiring.
  • Our building has been designed with security in mind.
  • All entrances are protected by biometric and PIN-based entry systems.
  • All archive CDs are encrypted with military-grade software requiring strong password authentication.
  • Security and Integrity Controls.

Our Customer Service

  • Our promise: LKCS will not be another vendor you love to hate.
  • 98% customer satisfaction in last survey.
  • Call or e-mail and you will get a response; best communication in the industry.
  • Fast answers and issue resolution.
  • We really do go the extra mile; no request is unreasonable.
  • We make our clients look good!