Sending customer statements has always been a core responsibility for financial institutions. What has changed is the cost, the compliance pressure, and the expectation for faster, clearer communication.
With print and postage rising, and digital engagement becoming the default, the financial sector needs a smarter way to deliver statements that stays compliant and keeps customers informed.

‍

Today, the new standard is simple: faster, cheaper, and fully FCA-compliant. This article explains what that looks like, and how financial service providers can get there.

‍

Why Traditional Statement Delivery No Longer Works

Rising Costs and Slower Delivery Times

Postal and print costs have climbed year after year. The price of a First Class stamp has risen from 41p in 2010 to £1.70 in 2025 (Royal Mail, 2025). Manual processing, printing, folding, sorting, and batching, often adds three to five days to fulfilment.

‍

For banks sending millions of statements a month, this represents a significant operational burden. Each delay increases cost, risk, and customer frustration.

Customer Expectations Have Shifted

Digital banking is now the norm. Recent data shows digital banking is nearing universal adoption, with 88 percent of UK adults using online or remote banking, and 75 percent using mobile banking apps (FCA/Industry Analysis, 2025). Customers expect statements to be delivered quickly, clearly, and through the channel they prefer.

‍

Yet for all the digital growth, not every customer is online, and regulation prevents firms from forcing a digital-only approach.‍

‍
“From Statements to Digital Mail: How Finance Is Reinventing Customer Communication.”

‍

Compliance Demands Have Tightened

Under FCA Consumer Duty, firms must deliver “clear, fair, and not misleading” communications and be able to prove that customers received essential documents (FCA, 2022, p.14).

‍

The Equality Act and FCA guidance also require firms to support offline and vulnerable customers. According to Ofcom’s analysis, despite digital growth, millions of UK adults remain offline or rely heavily on paper communications, a group estimated at around 12 percent or more (Ofcom, 2024, p.6).

‍

Print is still essential, but it must be managed in a more controlled, efficient way.

‍

What “The New Standard” for Statements Looks Like

Multi-Channel by Design

Leading financial organisations now design statement delivery across multiple channels:

• Email for standard monthly statements
• SMS for reminders, alerts, and urgent notices
• Print for legal, regulatory, or customer-preferred messages

But the crucial difference is control. Banks set the rules that determine which channel is used for each communication type.

A few examples:

• “IF statement type = mortgage → send PRINT”
• “IF customer chooses digital → send EMAIL”
• “IF time-sensitive → send SMS + fallback to PRINT if unopened”

This is the foundation of Digital Mail

Automated and Compliant Workflows

Digital Mail platforms follow a structured workflow:

1. Data enters the system securely
2. A template is applied
3. The bank’s rules determine the channel
4. Delivery happens instantly or is queued for print
5. Every step is logged for FCA evidence

This removes the manual errors that often lead to customer complaints or regulatory breaches.

Built-In Fallback-to-Print

Fallback-to-print has become a defining feature for regulated industries.

‍

If a digital message is not delivered, bounces, or is not interacted with within a set timeframe, a printed version is automatically triggered.
This ensures the statement always reaches the customer, something the FCA expects firms to demonstrate if challenged.

‍

Fallback-to-print removes risk without sacrificing efficiency.

‍

Faster and More Cost-Effective Statement Delivery

How Hybrid and Digtial Mail Reduce Costs

Hybrid mail can reduce statement fulfilment costs by 30–40 percent (GOV.UK, 2024, p.22).
Digital Mail, combining automation, rule-based routing, and fallback workflows, has shown savings of up to 55 percent for high-volume financial institutions.

‍

Here is a simple comparison:

*Cost savings and fulfillment times based on GOV.UK (2024) report and 2025 internal benchmarks.

Better Customer Satisfaction

Consistent, predictable statement delivery builds trust.
Customers stay informed on the channels that work best for them.

‍

FAQs

What is the most cost-effective way to send statements?

Hybrid and Digital Mail systems offer the lowest fulfilment costs through automation and digital routing.

Are digital-only statements FCA compliant?

Not for all customers. Firms must support offline and vulnerable users, and ensure essential documents reach them in an accessible format.

What is fallback-to-print and why does it matter?

It ensures communication is delivered if a digital channel fails or is ignored. This protects both customers and firms.

How can banks prove customers received their statements?

Digital Mail platforms log delivery, engagement, and fallback events, creating an FCA-ready audit trail.

‍

Key Takeaways

• Statement delivery is changing rapidly in finance
• Customers expect speed and clarity across channels
• FCA rules require provable delivery and accessibility
• Digital Mail offers the fastest, safest, and most cost-effective method
• Automatic fallback-to-print protects compliance without slowing processes
• Micom delivers all of this through a secure, rule-based platform

‍

Ready to Modernise Statements?

Discover how Micom helps financial institutions deliver statements that are faster, cheaper, and fully FCA-compliant.

Explore Financial Services Solutions →

‍

References

• Financial Conduct Authority (2022). FG22/5: Consumer Duty Guidance, p.14.
• Financial Conduct Authority (2024). Financial Lives Survey, p.17.
• FCA / Industry Analysis (2025). Digital Banking Usage Metrics.
• GOV.UK (2024). Digital Transformation in Financial Services Report, p.22.
• McKinsey & Company (2024). Reimagining Customer Communications in Banking.
• Ofcom (2024). Digital Exclusion Report 2024, p.6.
• Royal Mail (2025). Pricing Guide 2025.
• UK Finance (2025). ESG Outlook 2025, p.12.

‍

‍