Knowing your customer is important – and not just from a compliance perspective. Knowing your customers, from the moment they hit the new accounts desk to open their deposit account, can mean the difference between forging a long-term relationship with a valued customer and exposing yourself to fraud.
That’s why having the right information at the right time is so critical. Making decisions without the best data available can prove costly. DebitBureau®, provided by ChexSystems, Inc., is the powerhouse behind the decisioning solutions on which so many of the nation’s financial institutions rely. As a collection of databases compiling information from consumer behavior events and other data sources, DebitBureau combines data and analytics to provide insight – what you need to feel confident in your decision-making.
The data is updated on average nearly 350,000 times each day, collected from over 9,000 financial institutions at over 100,000 locations. Consumer debit information is also collected from retail locations across the country.
Using the proprietary consumer data integration technology found in DebitBureau, you receive a comprehensive view of every consumer. Unlike traditional matching processes that single out one or two key identifiers such as name or address, our consumer data integration process allows for linking consumer information across vast repositories of data, providing you the most comprehensive and up-to-date profile from which you can base your important decisions.
For more information on the products and services available from FIS Risk, Fraud and Compliance Solutions, call 800.822.6758 or e-mail us.