https://www.aquilainsight.com/wp-content/uploads/2019/01/Telling-the-story-in-your-data.jpg

The Challenge: 
A bank wanted our support to reach their target of reducing paper production by 20% each year; a step towards their vision to be paperless by 2020. Using data analysis would help to understand the scale of opportunities to reduce paper, and provide informed decisions about what would be feasible.

Our Approach: 
We quickly realised that reducing the use of paper statements would have the biggest impact. During the first phase we identified customers who could be contacted by email or mobile but were not set up for online statements. By engaging with these customers and explaining the change, the bank could help more choose paperless.

As a way to understand the steps to reach the outcome, we used funnel analysis to show a breakdown of external printing-by-product category and volume of accounts and determined the categories which were eligible to be converted to paperless.

The Results:
Having the right data helped the bank to identify two million accounts which could move to paperless.

That’s a whopping 60 million paper-sheet reduction, saving £4 million along with the environmental benefits.