how erie federal credit union improved operations with accurate data
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© Experian Limited 2008. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Limited.
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Confidential and proprietary.
How Erie Federal Credit Union Improved
Operations with Accurate Data
Teleconference: Dial-in: 1-866-237-3252
Passcode: 465929
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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
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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.
1. Will you introduce yourself and your role and give a brief overview of your organization?
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2. What are the internal, operational repercussions of bad address data? How does it hurt your organization?
Returned mail
Rework required deters from core job responsibilities
Costs add up from inefficiency
Poor service
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3. How do address errors get into your system/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
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4. How was the product rollout?
IT/ Operations initiative
Integrated with Symitar
Set it and forget it
Low maintenance
Electronic data updates
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5. What was your experience training your staff to use 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
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6. What results have you seen since implementing Experian QAS address verification tools?
Cleaned address data
Improved efficiency
Entering addresses in fewer keystrokes
Reduced processing of returned mail
Reduced unnecessary expenses
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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
Performance
Highest Level of Error
Corrected
No Verification None No Changes Made
ZIP Code Poor City, State, ZIP
Premise Good House/ Building Number
Secondary Best Apartment/ Suite Number
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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
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How Address Verification Helps Credit Unions
Increases efficiency
Better member service
Consistent data entry
Better compliance with USPS regulations
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PRODUCT DEMONSTRATION
QAS Pro
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QASProducts & services
Real-time verification Clean & enhance
Clean
QAS Batch
QAS Bulk Processing
Phone & Email Batch
Enhance
QAS Unify
NCOALink®
Address
QAS Pro
QAS Pro On Demand
QAS Pro Web
QAS Pro API
Phone and Email
QAS Phone
QAS Email
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Please visit www.qas.comfor more information.