Breaking Consumers' old habits and getting them to use less paper may be difficult, but it's not impossible.

The key is getting people to go paperless at the onset, says Inca Kaya, an analyst for TowerGroup. While the industry consensus says about 70 percent of account holders still transact via paper, Kaya says about 50 percent of new accounts are now paperless. "If you can catch them at the point of acquisition, you will have them for years to come," she says, adding no financial institution has of yet seized a solid leadership position in terms of removing paper.

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