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How Erie Federal Credit Union Improved Operations with Accurate Data
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How Erie Federal Credit Union Improved Operations with Accurate Data

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  • 1. How Erie Federal Credit Union ImprovedOperations with Accurate Data Teleconference: Dial-in: 1-866-237-3252 Passcode: 465929© Experian Limited 2008. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Limited. Other product and company names mentioned herein may be the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without the prior written permission of Experian Limited. Confidential and proprietary.
  • 2. Welcome!Introductions and Overview of Today’s Session Q&A with Erie Federal Credit Union on impacts of address verification Today’s speaker:  Brian Warzynak – Chief Technology Officer Top 100 data quality research Experian QAS product demonstration  Christine Dunkley – Product Manager Questions from the audience © Experian Limited 2008. All rights reserved. Confidential and proprietary. 2
  • 3. 1. Will you introduce yourself and your role and givea brief overview of your organization? Brian Warzynak  Chief Technology Officer  Responsible for maintaining the reliability and functionality of everything IT Erie Federal Credit Union  Erie Federal Credit Union is a full service credit union that was formed in June 1936 and has over 40,000 members. Its mission is to responsibly deliver a wide range of financial services that meet the needs of its membership. © Experian Limited 2008. All rights reserved. Confidential and proprietary. 3
  • 4. 2. What are the internal, operational repercussions ofbad address data? How does it hurt your organization? Returned mail Rework required deters from core job responsibilities Costs add up from inefficiency Poor service © Experian Limited 2008. All rights reserved. Confidential and proprietary. 4
  • 5. 3. How do address errors get into yoursystem/processes?  Address data is provided by a member  Errors occur when  Member provides incorrect information  Member Service Reps type the information wrong  Misinterpret the account holder address  Spelling or fat-fingering issues  Abbreviations © Experian Limited 2008. All rights reserved. Confidential and proprietary. 5
  • 6. 4. How was the product rollout?  IT/ Operations initiative  Integrated with Symitar  Set it and forget it  Low maintenance  Electronic data updates © Experian Limited 2008. All rights reserved. Confidential and proprietary. 6
  • 7. 5. What was your experience training your staff touse Experian QAS products?Very little training was needed Experian QAS staff trained the trainer for EFCU Users needed to get accustomed to workflow No negative feedback © Experian Limited 2008. All rights reserved. Confidential and proprietary. 7
  • 8. 6. What results have you seen since implementingExperian QAS address verification tools? Cleaned address data Improved efficiency  Entering addresses in fewer keystrokes  Reduced processing of returned mail Reduced unnecessary expenses © Experian Limited 2008. All rights reserved. Confidential and proprietary. 8
  • 9. Top 100 Credit Union Survey 68% of the top 100 credit unions are using address verification Premise and Secondary level verification are each being used by 30% of the top 100 Address Verification Verification Level Correction Highest Level of Error Performance Corrected No Verification None No Changes Made ZIP Code Poor City, State, ZIP Premise Good House/ Building Number Secondary Best Apartment/ Suite Number © Experian Limited 2008. All rights reserved. Confidential and proprietary. 9
  • 10. Top 100 Credit Union Survey  The higher a credit union ranked, the more likely they are to be using advanced address verification  Only 43% consider address verification as a priority for 2011  Credit Unions more likely than Banks to be using address verification © Experian Limited 2008. All rights reserved. Confidential and proprietary. 10
  • 11. How Address Verification Helps Credit Unions  Increases efficiency  Better member service  Consistent data entry  Better compliance with USPS regulations © Experian Limited 2008. All rights reserved. Confidential and proprietary. 11
  • 12. PRODUCT DEMONSTRATION QAS Pro © Experian Limited 2008. All rights reserved. Confidential and proprietary. 12
  • 13. QASProducts & services Real-time verification Clean & enhance Address Clean  QAS Pro  QAS Batch  QAS Pro On Demand  QAS Bulk Processing  QAS Pro Web  Phone & Email Batch  QAS Pro API Enhance Phone and Email  QAS Unify  QAS Phone  NCOALink®  QAS Email © Experian Limited 2008. All rights reserved. Confidential and proprietary. 13
  • 14. Please visit www.qas.com for more information. © Experian Limited 2008. All rights reserved. Confidential and proprietary. 14