BAI Deep Dive:

During the economic disruption, more consumers will miss payments on financial products. Institutions with the most up-to-date consumer data will be better prepared to make contact efficiently and arrange payment effectively.

However, consumer data on record goes out of date quickly, impeding collection efforts. None of the three most common approaches to updating consumer data—in-house, credit bureaus, and third-party vendors—provide the full clarity needed.

Now is the time to implement a strategy that ensures consumer information is consolidated, complete, and dynamically updated. The more complete and accurate CRM data is, the more effective consumer interactions can be.

Join Neustar to learn how to contact consumers more effectively with records that update automatically as consumer identifiers change.

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