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Data quality for financial services

Acquire more customers, improve experience and reduce risk

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For both strategic and regulatory reasons, financial institutions collect a lot of customer information. While most customer contact information is self-provided, inaccuracies are frequently introduced during capture due to human error. Incorrect, incomplete, or duplicate customer data can prevent your financial institution from providing an excellent customer experience and may even open the door for fraudulent activity or regulatory infractions.

Due to the variety of channels through which contact data enters financial institutions, monitoring the quality of such information can be a challenge. As more financial services companies move toward an omnichannel experience, online forms, mobile apps, call centers, and retail branches have all become sources of customer information, and each channel needs data quality solutions to ensure accurate customer information is being collected and maintained over time.

Improving your data quality will help you:

Improve your customer experience

Our email, address, and phone verification solutions work seamlessly during the data entry process across any channel to resolve any incorrect or incomplete information before the transaction is finalized.

Learn more about our contact data quality solutions

Drive customer analytics

Profile full volumes of data to discover valuable relationships, unusual values, and outliers

Learn more about data profiling with Experian Pandora

Reduce regulatory risk

Data management solutions enable you to profile and standardize your data across disparate systems -- using more than 200 attributes to assess data content, structure and quality to meet compliance.

Learn more about our tools to meet regulatory compliance

Streamline migration projects

De-risk your data migration projects, and ensure that they are completed on time and on budget -- tasks that typically take hours or even days of effort can be executed in just seconds.

Learn more about our tools to support your data migration

Acquire more customers

Enrich your first party prospect, customer, or member data with Experian's 3rd party attributes. By learning more about your customers, you will give them a better experience, and enable finding more customers like them. 

Learn more about our data enrichment tools

Increase operational efficiency

Increase operational efficiency by reducing hard costs and eliminating wasted time spent working with poor or incomplete data. 

Learn more about our tools to increase efficiency

Data quality statistics from the finance industry

of financial institutions are driven to invest in data analytics and management due to increasing regulation 

of financial institutions see data as an integral part of forming a business strategy

of financial institutions believe that data quality issues impact customer trust and perception

of financial institutions have a data management project planned in the next 12 months

*Source: 2017 global data management benchmark report

Finance data quality resources

Get started today with our robust suite of data quality tools.

Contact data management 

Address, email, and phone validation solutions ensure that you have the most accurate and complete contact information for your customers and members. 

Data migration and management

Experian Pandora is a powerful data management solution that helps with data profiling, cleansing, standardization, enrichment, and monitoring. Developed with both business and technical users in mind, this intuitive solution enables your business to leverage its data more quickly and efficiently than ever before.

Data matching

Make smarter decisions and build a single customer view with data matching. By discovering links between your customer records, you can identify and remove duplicates and suppress records that you cannot use. With a single view of your customers, you can better deliver products and services while improving the omnichannel customer experience.

Data enrichment

Learn more about your customers by appending additional information to their records in real-time. Our enrichment solutions provide a variety of information types to unlock greater customer understanding. With insight into your customers’ demographic, behavioral, household, life event, and geographic information, you can provide a more tailored customer experience.

Fraud detection

Experian’s Crosscore safeguards that your financial account opening process will not allow any fraudulent accounts to be created. Crosscore will also ensure you are not experiencing false positives in your opening process, which can result in lost potential customers and revenue. 

Metro 2 data quality 

DataArc 360TM helps data furnishers adhere to Metro 2 standards before they submit their files to the bureaus. DataArc 360TM is a bureau agnostic tool with more than 115 pre-configured Metro 2 rules to enable resolving data errors before they become disputes. 

 

Learn more today

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