“Accelerated Insight” Provides Real-Time Identity Verification for Financial Institutions,
Accelerating Customer On-Boarding, Reducing Fraud, and Facilitating Compliance
NOVATO, Calif., Aug. 31, 2011 – Dragnet Solutions™, the identity verification company, announced today the immediate availability of Accelerated InsightSM, a real-time identity verification solution for financial institutions. The solution supports aggressive account creation and cross-selling activities while cutting operating costs, reducing fraud, and facilitating KYC/CIP compliance. Accelerated Insight is offered as a Web service and provides easy, standards-based integration with the information systems that financial institutions already use. A free trial of Accelerated Insight is available for U.S. financial institutions today. For more information, visit www.dragnetsolutions.com.
Accelerated Insight uses powerful data-cleansing and fraud-detection algorithms to turn raw, hard-to-interpret consumer data reports into simple, clear decision-making guidance. Simply submitting a name and current or previous address immediately returns the current address, a correct Social Security Number, and a proprietary exception analysis that helps prevent fraud. Results are returned in real time—not in daily batches—instantly confirming customer identity and accelerating the on-boarding process. Accelerated Insight reduces or eliminates error-prone keyboard input, dramatically reduces exception-handling volumes, and measurably improves customer experience.
“Accelerated Insight’s fast and accurate identity verification frees branch personnel to focus on delivering the best possible service and makes customer interactions far more productive and profitable,” said Gary Root, chief executive officer, Dragnet Solutions. “Additionally, the solution reduces fraud and facilitates compliance with the USA PATRIOT Act and other regulations.”
A Dragnet white paper discussing identity verification solutions for financial institutions is available at www.dragnetsolutions.com.
About Dragnet Solutions
Dragnet Solutions provides real-time identity verification solutions to financial institutions, supporting aggressive account creation and cross-selling activities while cutting operating costs, reducing fraud, and facilitating KYC/CIP compliance. Dragnet is privately held and headquartered in Novato, Calif. For more information, please visit www.dragnetsolutions.com.
Dragnet Solutions is a trademark of Dragnet Solutions, Inc. Accelerated Insight is a service mark of Dragnet Solutions, Inc. Other names may be trademarks of their respective holders.
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In financial services, first encounters with customers are critical. Relationships are founded. Critical data is exchanged. And first impressions are formed.
Consider this: nearly 75% of cross-selling opportunities occur within 90 days of an account’s being opened. But a lot of those cross-selling opportunities will misfire because of mistakes and missed opportunities during the customer onboarding process. Nearly 1 in 5 account creations will result in exceptions that will require review from a manager or a security expert. And 30% of accounts will be plagued by keystroke errors. That first glossy mailing welcoming a customer to your institution will not be received well if the customer’s name is misspelled.
At Dragnet Solutions, we’re applying advanced software techniques to help financial institutions make the most of their selling opportunities, while reducing or eliminating keystroke time and errors during the account creation process. And we’re experts at analyzing customer records to spot fraud—even synthetic identity fraud—right away.
We’ve just announced our new service, Accelerated Insight. Just swipe a new customer’s driver license in a mag-stripe reader, and Accelerated Insight instantly shows you the customer’s full name, current address, SSN, and security exception status. No more time lost to taking dictation or puzzling over old data on a driver license (30% of driver licenses have outdated information). We give branch personnel accurate information in real time, so they can get on with the business of selling. And integrating Accelerated Insight with branch office systems means that CRM applications and marketing materials have accurate customer data from the start. That’s accuracy that pays off time and time again in future selling.
You can learn more about Accelerated Insight here.
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