Dragnet will be exhibiting in Booth #29 at this year’s Underbanked Financial Services Forum.

Underbanked Financial Services Forum
InterContinental Miami
Miami, FL
June 5-7, 2013

From the story:

Small businesses continue to interact with- and transact at their branches. More than half of all business transactions are conducted at a branch. Small businesses also show a strong preference for in-person and live agent phone conversations with their financial institutions, which drives them to greater branch usage. And for financial marketers, branches continue to be the best venue to acquire new business relationships.

Unlike retail consumers, the research found that less than 25% of small businesses surveyed use mobile banking with only 8% using mobile bill pay.

As the story notes, before banks eliminate branches because of lighter traffic, they should consider the effect that eliminating branches might have on their small business clientele.

To read the full story at The Financial Brand, click here.

Dragnet Solutions was featured in the March 28, 2013 edition of the Novato Patch.

Read the story here: ID Fraud Prevention Firm Dragnet Solutions Set to Expand in Novato.

BAI Retail Delivery
November 5-7, 2013
Denver, CO

We’ll post details about this event soon.

What can banks and credit unions expect in the area of payments fraud in the years ahead?

In the new Resources section of our Web site, we’ve posted a short white paper that answers this question, drawing on recent banking surveys and security reports.

To access this white paper, Four Insights on the New Face of Payments Fraud, click here.

First, in late November, we announced a partnership with ATTUS Technologies, provider of the industry-leading OFAC-checking service, WatchDOG Pro. This partnership enables us to offer OFAC SDN List-checking as part of Accelerated Insight.

For our press release about ATTUS Technologies and WatchDOG Pro, click here.

Second, we’ve just announced a partnership with First Data, a global leader in financial services technology. Working with First Data, we’re now able to offer the First Data Confidence Score as part of our Accelerated Insight identity verification service.

The First Data Confidence Score is an alternative tool that allows clients to use multiple forms of identification to screen applicants and provides access to hard-to-locate information on sub-prime, thin-file, and no credit score consumers. The solution leverages TeleCheck®, the nation’s most complete database of check writer information, which provides affordable, real-time information based on checking account history at TeleCheck merchants and financial institutions nationwide.

To learn more about the First Data Confidence Score and our partnership with First Data, see our First Data press release.

As these announcements show, Accelerated Insight provides comprehensive identity verification in a single secure Web service accessible in branches and through online applications, including mobile applications. In addition to Accelerated Insight’s proprietary discovery system, real-time data-cleansing algorithms, and ID verification services, Dragnet customers now have access to best-of-breed data services for OFAC-checking and account screening, providing branch personnel and online applications with critical insights at the time of account opening.

To learn more about Accelerated Insight, please contact us.

Banks and credit unions use Accelerated Insight to answer three critical questions about account applicants:  Is this person who they say they are? Based on our understanding of their financial history, should we open an account for them? Are they on a government list of people for whom institutions should not open accounts? By adding First Data Confidence Score to Accelerated Insight’s data service, Dragnet Solutions gives institutions the option of receiving a more complete analysis of an applicant’s financial history to help answer the second question.

First Data Confidence Score is an alternative tool that allows clients to use multiple forms of identification to screen applicants and provides access to hard-to-locate information on sub-prime, thin-file, and no credit score consumers. The solution leverages TeleCheck^®, the nation’s most complete database of check writer information, which provides affordable, real-time information based on checking account history at TeleCheck merchants and financial institutions nationwide. The information includes extensive financial data that identifies applicants with a history of account abuse and poor maintenance, charge-offs, and fraudulent checks.

With First Data Confidence Score, clients gain a deeper understanding of an applicant’s checking and checking account history. With this insight, banks and credit unions can more effectively evaluate individual financial risk to make better account acquisition decisions.

“The integration of deep consumer insight from First Data Confidence Score into Dragnet’s world-class identity verification tool streamlines a critical process for banks and credit unions,” said Mark Wallin, global product group leader, First Data. “The ease of using one interface to access these powerful informational tools helps clients avoid potential errors from having to re-enter customer information into multiple systems, while it enables more informed up-front decisions about account openings.”

“First Data Confidence Score is an industry-leading assessment tool that helps financial institutions make better decisions about account applicants, especially applicants with little or no credit history,” said Greg Cote, president and CEO of Dragnet Solutions, Inc. “For banks and credit unions to grow profitable accounts while minimizing the risks of charge-offs, they need a thorough understanding of the customer’s financial standing at account opening. First Data Confidence Score is a powerful tool for gaining that understanding in real time, and it dovetails well with the other identity verification and risk/confidence analytics delivered by Accelerated Insight.”

Built on Dragnet’s proprietary discovery system, Accelerated Insight is a real-time identity verification service that helps institutions confidently say yes to more qualified applicants, including those with limited financial histories. Using Accelerated Insight, banks and credit unions can better differentiate customers, grow revenues, and prevent fraud, while complying with regulations such as KYC, the Red Flags Rule, and OFAC.

For a demo of Accelerated Insight, please write to sales@dragnetsolutions.com.

About Dragnet Solutions, Inc.
Dragnet Solutions provides real-time identity verification and document authentication solutions to financial institutions, supporting aggressive account creation and cross-selling activities while cutting operating costs, reducing fraud, and facilitating KYC/CIP, Red Flags, and OFAC compliance. Built on Dragnet’s proprietary discovery engine, Accelerated Insight is the only identity verification solution that gives institutions the real-time ID and risk/confidence information they need to make confident decisions about applicants, including applicants in unbanked and underbanked communities. The company is privately held and headquartered in Novato, CA. For more information about Dragnet Solutions, visit www.dragnetsolutions.com.

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Dragnet Solutions and the Dragnet Solutions logo are trademarks of Dragnet Solutions, Inc. Accelerated Insight is a service mark of Dragnet Solutions, Inc. All other trademarks are the property of their respective holders.

For media inquiries, please contact:

John Bennett
+1-510-495-6590
john.bennett@dragnetsolutions.com

Dragnet Solutions exhibited at this year’s BAI Payments Connect Exhibition and Conference.

March 11-13, 2013
Phoenix Convention Center
Phoenix, AZ

This Epsilon study is yet another reminder of how important it is to collect accurate address data from customers. There’s no better time to do this than during the account creation process when your customer is sitting face-to-face with a branch employee. Yet whether because of keyboard errors or outdated information on government-issued IDs, financial institutions end up with incorrect address data from these interviews too much of the time.

Bankers tell us that as much as 5% of their postal mail communications are returned because of address errors. That’s 5% of customers who never receive the institution’s direct mail pieces, no matter how well they’re designed or how compelling their offers.

For a lot of reasons—including getting the most out of future marketing campaigns—it pays to use a real-time identity verification service that corrects address information in real time.

If you’d like to see a demo of our Accelerated Insight service doing just that, please contact us.