Self-service check ordering helps banks boost profitability, efficiency

As everyday responsibilities and tasks move from the physical to the digital world, consumers and business owners alike are finding themselves more and more accustomed to digital, self-driven experiences. From one-touch mobile orders to virtual meeting spaces, the interest in digital-first solutions continues to climb.

Bank clients are no different. They too are interested in ways to streamline their to-do lists through online, self-driven platforms. Financial institutions of all sizes have an opportunity to capitalize on this demand. By promoting self-service solutions, including check ordering, banks can shift the check-ordering process out of the physical branch and into a more streamlined online experience. Not only does this simplify the account holder’s life, but it can also save the branch staff’s time and boost the bottom line.

Consumers call for self-service solutions

It’s safe to say that everyone is interested in online, self-serve solutions. According to the Salesforce State of the Connected Customer report which surveyed over 15,000 consumer and business buyers, only 17 percent reported no interest in using self-service account portals. On the other hand, 59 percent were already using such services, with the remaining 23 percent showing interest in use.

The same interest is seen with account holders. A PYMNTS survey reported that 42 percent of respondents chose what financial institution to bank with based on the simplicity of their online capabilities. The percentage of consumers using self-service banking methods is expected to climb equally with banks’ investment in self-service channels. In a study by ATM Marketplace, almost half (47 percent) of financial institutions around the world said their self-service channels will replace or supplement teller stations by 51 percent or more within the following three years. In today’s digital-first world, those self-driven capabilities cover the gamut, from transferring funds to ordering checks.

Checks prevail as a trusted payment

It’s no secret that check use is generally declining. In a 2023 Forbes survey, respondents were asked what the most important features were when shopping for a checking account and only 14 percent cited check-writing as most important. But what is considered valuable varies between generations. In the same survey, mature subjects reported higher numbers of interest in check-writing abilities – 23 percent between the ages of 59 and 77, and 33 percent in the 78 and older range.

Still, all generations are writing their fair share of checks. Surprisingly, a 2019 study by FinanceBuzz found that nearly 40 percent of millennials had written a check in the past month, and 59 percent of those in the more senior Generation X had written a check in the last six months. That same study showed that even though mobile payment platforms like Zelle, PayPal and Venmo are increasing in usage, millennials are just about as likely to use one of those mobile wallet platforms as they are to write a check.

It should also be noted that these numbers reflect only retail consumer behavior, and it’s well known that commercial consumers are far more active check users. A 2024 survey by AFP notes that a whopping 70 percent of business-owning respondents still use checks to send and receive payments, highlighting a very real demand for self-driven check ordering services.

Benefits of self-service check ordering

Based on account holder behavior, it’s clear that checks are still a viable payment method that banking clients are interested in, particularly commercial banking clients. Here are a few of the many benefits financial institutions may realize when they begin to provide self-serve options for check ordering:

1. Improve branch efficiency

As the old saying goes: Time is money. When self-service options are available, staff can spend less time on check-order data entry, and in turn, save labor dollars. When one combines full-time equivalent hours with lost opportunity cost, the estimated figure becomes even higher. By offering self-service options to account holders, your branch staff can spend less time on manual labor and more time focusing on higher-margin customer interactions.

2. Increase check program profitability

Allowing account holders to self-serve can mean better engagement and retention, plus increased spend on every order. According to Deluxe client data, self-service order channels average nearly $10 higher than orders placed in the branch. This result could be that customers have more time to “window shop.” By driving the transaction on their own, they have more time to explore check customization options and accessories, consider their options and make a decision.

3. Streamline the check ordering experience

With the saturation of online ordering, customers are used to being in control of their shopping experience. When financial institutions offer self-serve check ordering, account holders can enjoy a simple and intuitive experience that’s akin to other online shopping experiences they’ve enjoyed. They’re able to choose upscale designs, select higher check box quantities and opt for expedited delivery options – features that they might not have otherwise been aware of when ordering in a physical branch.

Furthermore, self-service check solutions allow bank branches to put account holders first in terms of health and safety. In April 2020, Deluxe saw a 32 percent increase in self-serve results as banks and account holders alike sought ways to minimize human contact in the name of health and safety.

Accuracy is also improved as account holders know exactly how they want their name and address displayed. Self-serve channels are known to results in a reduction in reprints, and it’s these kinds of factors that can result in improved customer satisfaction.

4. Shift labor budget to higher-margin interactions

Self-serve options, including check ordering, can free up time for branch staff to focus on higher-margin customer interactions. One Deluxe client, a financial institution, saw a 67 percent increase in account holder spend since adopting self-service tools. Customers are more likely to utilize services at their bank when those services are easy to access.

Self-service checks make sense

With digital methods becoming more and more commonplace, moving check orders out of the branch and into the digital world is a no-brainer for banks looking to drive performance and streamline the consumer experience. A client-forward, self-service check ordering strategy can increase the profitability and efficiency of a financial institution while also satisfying the needs of your digitally minded account holders.