Streamline the Cleanup
and accuracy of your customer data
There are a multitude of reasons that customer contact data becomes inaccurate. Many of which are out of your control.
We understand how difficult it can be to manage customer contact data for consistent input into your core platform and for accuracy when data is merged from other applications.
Customer Contact Data is Your #1 Asset
Your customer data is a critical component of your institution. So much so that we believe it’s the number one asset you own. You use it for:
- Customer Notifications
- Cross-Sell / Up-Sell
- Customer Onboarding
- Customer Offboarding
- Payment Receipt
- Targeted Social Media & Paid Digital
- Customer Retention Management
- The list goes on and on
Automating Accuracy Using CIFocus
Extraco Consulting has partnered with Redi Enterprise Development to bring you CIFocus. A CIF Data Cleansing Platform to help you:
- Improve data quality & productivity
- Avoid misguided decisions based on inaccurate data
- Streamline customer communication — accurately
- Enable enhanced management of the relationship
- Filter irrelevant data or poorly formatted data sets
- Ensure compliance & regulatory requirements
Data Quality = Profitability
The Risk of Inaccurate Data
Inaccurate Customer Information Files can cost your Financial Institution 15 to 25% of revenue per year. Along with revenue implications, it also poses a risk for fraudulent activity. CIFocus bridges the gap between your data and your customers.
Automating data hygiene from beginning to end will enable you to deploy usable, accurate data across multiple data driven applications — CRM, Online Banking, Fraud Prevention Platform, Mortgage or Lending Platform, Insurance Platform, Investment Platform, and more.
Get it. Clean it. Push it back into the Core
CIFocus can be easily integrated into your daily procedures so that you are never running with unvalidated data. There are various ways users can set-up the tool — monthly, bi-yearly, or yearly — to establish cleansing routines that fit your tolerance and need. We leave the decision of clean data up to you.
Taking the work out of data cleaning
CIFocus provides automatic data correction for a hands-off method to data cleaning.
- Removes or merges duplicate records.
- Cross-references missing data across multiple platforms/applications and supplies data to missing fields.
- Verifies phone numbers against carrier to identify if a number is a cell phone or land line. Data is then aligned for text or call use for penetration in the mobile space.
- Scans eMail domains to ensure the address is deliverable and properly formed, and identifies if the mailbox actually exists.
- Can place a CIF Alert Message on the inaccurate customer or member data so that any future encounters with the customer or member can be managed accurately.
Identifying & Correcting Inaccurate or Missing Data
CIFocus utilizes Carrier records, domains, mailboxes, chatalls, and national data bases to identify inaccurate data.
CIFocus adds an inaccurate or missing data alert to the CIF for your financial institution’s representative to correct data when the customer visits or contacts the institution.
Campaign pieces can be delivered to available contact data and mediums to acquire the correct, updated contact information. Campaign items include direct mail, eMail, text, online banking ads, and more.
After your initial data cleaning, it’s important to maintain an accurate database. CIFocus will allow you to automate the data cleansing process. There’s really no limit on seats, licenses, or participant access.