SubscriberWise® Increases Accuracy and Mitigates Errors for National Credit Bureaus and Consumers Alike

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--SubscriberWise, America’s largest issuing consumer reporting agency for the communications industry and the leading provider of subscriber-driven business rules technology, announced today that consumer credit files maintained at the three large national repositories are more accurate as a direct result of the hundreds of thousands of credit submissions processed by its nationwide member operators every year.

“It’s SubscriberWise member operators around the nation - America’s leading cable and telephone companies - they indeed contribute a most positive impact to the Congressional findings and statements outlined above while also acting in the best interests of their customers and prospects.”

“Time and time again I’ll hear about a customer service agent or manager who has helped a prospective subscriber recognize a potential problem during the credit prequalification process,” said SubscriberWise founder and CEO David E. Howe. “In fact, only last month, a credit manager contacted me about a submission that returned a deceased indicator for a prospective subscriber. After the operator investigated further, it was determined the individual was not deceased but, in fact, alive and well.”

“Following contact from the credit manager, I submitted the consumer’s information directly to national repository for its review,” explained Howe. “After a few days, I received a reply advising that one of the woman’s creditors had reported her deceased. The credit bureau indicated they would note the woman’s credit file. They also provided SubscriberWise with a telephone number that I was able to provide our member. The woman was able to contact the repository and learn what steps were necessary to remedy her credit report.”

“In other scenarios, SubscriberWise ‘Red Flag’ technology will trigger an alert indicating the identity information submitted is different by one or two digits from the information contained in the file,” continued Howe. “This can happen with a simple keying error. It can also be triggered when there’s no keying error, but the file contains the wrong information. And occasionally, it can happen when the prospective customer inadvertently (or even purposely) provides the wrong information. Regardless of the cause, it’s reassuring to know that SubscriberWise member operators, and the thousands of customer service representatives who use SubscriberWise everyday, they are directly contributing to a more robust and accurate credit reporting system. After all, it was Congress who eloquently stated the following:

§1681. Congressional findings and statement of purpose

(a) Accuracy and fairness of credit reporting

The Congress makes the following findings:

(1) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system.

(2) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers.

(3) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers.

(4) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumer's right to privacy.”

“Yes, I glow with pride knowing that SubscriberWise is today profoundly part of this elaborate mechanism,” stated Howe. “It’s SubscriberWise member operators around the nation - America’s leading cable and telephone companies - they indeed contribute a most positive impact to the Congressional findings and statements outlined above while also acting in the best interests of their customers and prospects.”

Audio examples of SubscriberWise technology benefiting consumers can be heard be clicking:

http://subscriberwise.com/media/SSN_Mismatch.wav

http://subscriberwise.com/media/Inadvertent_Error.wav

About SubscriberWise

SubscriberWise is the nation’s leading provider of risk and decision analytics for the communications industry. SubscriberWise is also a preferred solutions provider for the National Cable Television Cooperative. The NCTC benefits nearly 1000 operators around the nation (www.nctconline.org and www.subscriberwise.com/nctc).