Enformion for Financial Services

Always Stay in Regulatory Compliance

Financial laws and regulations are a necessary part of doing business in financial services. They formalize certain customer protections and security procedures that a bank or lender would probably want to put into place anyway as part of good business practices. But as conditions change, so do regulations. It can be a challenge keeping up and staying in compliance.

• Crime compliance is an essential part of financial services operations. Maintaining it protects your business from fraud or claims of malfeasance.
• Enformion data can help those in financial services to comply with information to help identify and vet customers, immediately and on an ongoing basis.
• With crime compliance managed, your company can better focus on superior products and customer service.

Streamline Collections Processes

In a perfect world, people would pay back their loans in a timely manner, without any prompting. But in the real world, individuals and businesses default on their loans. Those who specialize in financial services need to have an effective and efficient collections process in place. Enformion can help to make that process run even smoother.

• Depending on their circumstances, debtors often don’t want to be found. But an accurate and up-to-date contact list makes it harder for them to hide.
• This and more of Enformion’s skip tracing tools help to speed up the debt collection process.
• By automating contact data, and always having the best information available, collections teams run more efficiently and maximize their returns.

Better Identify Risk

Another way to help ensure higher ROIs is to minimize your risk from the outset. Being able to estimate the amount of risk a client poses—and how much risk you’re willing to take on—you can make more confident lending decisions. Whether it’s an individual or a small or mid-sized business, Enformion has data that call tell you more about them and their level of risk.

• Enformion data includes negative risk indicators, such as bankruptcies, liens, judgments and foreclosures.
• It also presents certain positive indicators, including a person’s assets, other businesses, etc.
• Does the good outweigh the bad? Our data can help you to perform your due diligence and make the decision to move forward or not.

Stay Ahead of Fraud

Wherever there’s money, you can bet there are fraudsters lurking to get their hands on it. Financial services are a constant target, so comprehensive fraud detection and prevention is essential. It also needs to be adaptive to offer continual protection even when fraudsters change their approaches. Enformion can help your company to stay agile and meet fraud head-on.

• Enformion’s high-quality data can help with essential fraud prevention tasks of identity verification and due diligence.
• Via our API integration or large batch processing solutions, you can largely automate these tasks to focus on product development and client services.
• Being able to stop fraud both protects your immediate interests and ensures your reputation as a safe and secure company, which can help to draw in more high-quality clients.

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