Generating and distributing account statements on current and savings accounts is major activity for any bank. So much so, that it is generally outsourced to large service providers offering the printing and surface mailing automation.

With Internet, creation and emailing of electronic account statements is taking the place of paper mailing.

While mailing of physical statements was an involved and expensive activity, there were fewer opportunities for abuse and the physical environment itself provided some of the security and user comfort.

With Electronic mailing, the account statements and associated communications have become one major Phishing harbor. Millions of dollars are being lost every day to scams that have their roots somewhere in these communications.

AltaSigna helps manage the entire life cycle of statement generation, digital signing, encryption and distribution of account statements for Centurion Bank of Punjab, ABN AMRO Bank and HDFC Bank.