January 5th 2017

PrivatBank paperless processes saved 16 hectares of forest during the past year

In 2016, PrivatBank and its customers saved more than 560 tons of paper using electronic workflows and e-banking services.

The bank's electronic workflow system provides the largest paper savings. Using paper for more than 2.6 mln approved documents would have required at least 325 tons of paper last year (130 thousand standard A4 packs).

PrivatBank saves more than 20 tons of paper annually by implementing services of providing electronic certificates and a digital system of incoming mail processing for e-mails and customer requests. After receiving correspondence, the bank converts all external communications into electronic form and the majority of responses to customer requests are provided by e-mail, as well as at ATMs and bank terminals.

Active users of Privat24 and mobile banking save about 131 tons of paper per year by declining to print paper cheques and account statements. Half of customers decline to print a paper cheque at ATMs and self-service terminals, saving 84 tons of paper annually.

According to experts, production of one ton of paper requires 17 trees, and one hectare of forest equals about 600 trees. Thus, only in 2016 the staff and customers of PrivatBank preserved 16 hectares of forest.

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