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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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



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?



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



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



4. How was the product rollout?

IT/ Operations initiative

Integrated with Symitar

Set it and forget it

Low maintenance

Electronic data updates



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



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



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



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



How Address Verification Helps Credit Unions

Increases efficiency

Better member service

Consistent data entry

Better compliance with USPS regulations



PRODUCT DEMONSTRATION

QAS Pro



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



Please visit www.qas.comfor more information.

http://www.qas.com/?tid=2326

http://www.qas.com/?tid=2326

How Erie Federal Credit Union Improved Operations with Accurate Data

Technology

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