Submitted by: Jonathan Tame 02/17/2015
New research produced by London Economics, on behalf of the Keep Me Posted (KMP) campaign, is one of the biggest studies of behavioural economics testing the effectiveness of paper versus online statements in money management. The online survey found that consumers were more likely to understand the information they were given, take appropriate action, and make better financial decisions.
More specifically, the report found that;
Rt Hon John Thurso MP, Member of the Treasury Select Committee, and supporter of the campaign said: "There is a wedge developing between those who can manage their finances online and those who can't, or don't want to. I welcome this report. It backs up what I've believed for some time.
"I believe it's very important to ensure that consumers have the right to choose how they receive their bills and statements, and importantly are not charged for doing so. Policy-makers and legislators should look closely at how to protect people's right to choose."
Keep Me Posted is a partnership of over 70 businesses, campaigning for the consumer’s right to choose, without penalty, how they receive important financial information.