Submitted: The Two Sides Team October 14, 2019
A recent article by Keep Me Posted North America outlines the results of a recent consumer survey commissioned by Two Sides. The results of the survey demonstrate the concerns and reasons why consumers want the option to receive paper documents vs. electronic documents for important financial information.
Some of the key reasons include:
Personal preference – Consumers want the right to choose how they receive personal, important financial information, whether it is on paper or electronically.
Limited access to broadband or online services – Those who are most vulnerable such as the elderly, people with disabilities, or lower education and socioeconomic status all have less access to online services. Limiting access to paper documents for these groups may mean no access at all.
Concerns for Data Privacy – In the first 6 months of 2018, more than 25 million data records were compromised or exposed every day around the world. Consumers want to control their information and keeping paper documents at home is one way to manage personal data.
Companies are looking to use implied consent instead of permission to switch people over to digital or are charging extra for requesting paper documents.