Address Finder

Ensure your customer contact information is up-to-date and accurate.
As the financial services industry continues to move towards
a paperless environment, maintaining the correct and current
address is going to continue to become more challenging.
However, until financial institutions no longer have to send
out privacy statements, checks, replacement cards and other
correspondence via mail, it is critical to obtain customers’
most current addresses and verify their accuracy.
Typically, about one-third of customers who move will not
contact their financial institution to provide their new, updated
addresses. The impact of out-of-date contact information
is felt in several ways including return mail costs, back-office
staff time, customer friction, and even customer attrition.
With an average cost of over $10 per returned piece,
return mail is extremely costly on its own. Aside from this
hard dollar cost, having inaccurate contact information
severely hampers the effectiveness of your existing
customer relationship strategies and fraud controls.
Address Finder reconnects you to
your customers
Address Finder offers an easy and efficient way to find the
most up-to-date customer addresses and phone numbers,
as well as obtain other key risk attributes used to guide
important communications decisions. Address Finder will
handle destructive scenarios associated with unreported
address changes:
»» Fix a known return mail problem and re-establish
customer contact. When financial services companies
know they have bad or outdated addresses, Address
Finder obtains current addresses for the subset of
customers whose correspondence comes back as
return mail.
»» Limit future return mail and prevent customer friction.
To get in front of the problem, Address Finder scrutinizes
the entire customer database, finds unreported address
changes, decedents, bankruptcies, etc. Updating
the contact information allows financial services
companies to avoid return mail and have uninterrupted
correspondence with customers.
With consumers moving at a rate of
12 to 17 percent per year, financial
institutions need to take steps to
avoid customer database decay.
Address Finder is built to locate customers
Address Finder provides
significant value to financial
institutions
Locates Lost Customers: When customer
correspondence comes back to the financial
institution as return mail, Address Finder will
scour multiple consumer databases to obtain
the most up-to-date address and phone
number so customer contact can be reestablished.
Decreases Return Mail Burden: When used
proactively to inspect and refresh the Customer
Information File (CIF), Address Finder provides
up-to-date contact information thereby greatly
reducing the amount of future return mail.
Address Finder is effective at locating updated customer contact
information, and is easy to implement. By searching billions of consumer
records and pulling back the most current customer addresses and
phone numbers, clients will re-establish a vital communications channel.
Address Finder includes:
»» Expansive Address Verification Data: Address Finder taps into
a wide array of data sources including credit bureau data, utility
directories, demographic databases, and postal databases to provide
the most comprehensive database with address related attributes.
»» Accurate Matching Algorithms: Sophisticated, proprietary matching
algorithms detect and link identities to the most up-to-date
addresses and phone number.
Reduces Customer Friction: For dormant
customers or valuable customers who have
recently changed their addresses, obtaining
the current contact information (e.g., address
and phone number) is critical for preserving
customer relationships.
Prevents Fraud Losses: By ensuring contact
information is up-to-date, Address Finder
prevents critical shipments (e.g., credit cards,
debit cards, boxes of checks, etc.) from falling
into the wrong hands.
»» Confidence Scoring: Address Finder calculates a confidence
score that measure the likelihood the customer currently lives at
that address.
»» Updated and Actionable Information: In addition to the most
current customer contact information, Address Finder returns
additional data attributes that are critical for making mailing
decisions such as undeliverable and invalid addresses, deceased
indicators, bankruptcy filings and more.
»» Flexible Delivery: Address Finder can be integrated into a variety
of automated workflows whether real-time, batch, or through a
web-browser.
For more information about how you can use Address Finder to save time, money, and headaches
caused by inaccurate and out-of-date customer addresses - contact ID Insight today.
idinsight.com | (877) 749-8731 | 900 6th Avenue SE, Suite 215, Minneapolis, MN 55414