Turning Red Flags Into Green Trees
Everywhere we look these days – there are articles and advertisements about how the whole financial services industry is Going Green! There are webinars, conferences and even mass marketing on TV. Recently, I have been seeing the Region’s Bank new Green Account commericals, discussing their new account that is completely paperless.
As we jump into Red Flags, however, we are still finding that the majority of banks are planning on sending letters to consumers when an address change is made. If you consider that there are roughly 400 million retail bank accounts in the United States, this amounts to the potential for 60-120 million needless letters going out the door. Bring in the 800 million credit card accounts – and it keeps getting worse.
That’s a few thousand trees, not to mention the landfills. By going “paperless” with Red Flags and using an automated technology based approach – we can achieve the Green agenda.