QAS helps banks and credit unions improve customer satisfaction and reduce costs

In the competitive environment of today's finance market, customer satisfaction is more important than ever for retaining customers. Furthermore, banks and credit unions are faced with the challenge of maintaining high levels of customer service while also reducing high operational costs.

Incorrect customer addresses contribute to the situation. They can cause:

• Diminished customer service when new account information is not received due to invalid addresses, leading to customer frustration
• Lost opportunities to strengthen member relationships because addresses are entered in various formats, minimizing the accuracy of householding and other critical analyses
• Wasted time and money to research and change invalid addresses in order to follow customer identification regulations
• Vulnerability to fraud because bogus addresses are left unchecked and private information may be sent to the wrong address
• Reduced profits because accounts may need to be closed if the address was entered as invalid and the correct one cannot be verified

The solution? Real-time address verification

QAS' address data entry software, QAS Pro, can be used for instant and accurate address verification at any of your customer touch points, including in branches and customer service departments. Our software helps obtain the correct address in real-time through direct access to the latest* USPS data, and it works with almost any core processing system or database interface.

Banks and credit unions also use QAS Batch for automatic cleaning of existing addresses and for data quality maintenance. QAS Batch keeps address quality high and customer data fresh over time.

Benefits for banks and credit unions:

QAS is a valuable business tool for banks and credit unions because it:

Improves customer satisfaction: Capturing accurate addresses from the start of your customer relationships means important documents, including account statements and debit cards, are received in a timely and accurate manner to keep your members loyal and satisfied.

Maximizes cross-selling opportunities: Identifying customers, what they've bought and where they live provides financial institutions with an improved ability to offer additional products and services that best fit customers' needs.

Reduces costs while improving productivity: Researching bad addresses after mail has been returned wastes time and money, especially when adhering to customer identity regulations. Validating addresses before information is sent reduces the cost and inefficiency of tracking down customers due to poor address data.

Decreases exposure to fraud: Checking addresses at the point-of-entry means bogus addresses can be flagged for deeper investigation and private documentation is sent to the correct and complete address for your customer, reducing financial organizations' vulnerability to fraud.

Supports revenue collection: Verifying the accuracy of an address during the process of setting up new accounts minimizes the possibility of closing accounts due to the lack of communication with your customers. This creates a positive influence in your revenue stream and in retaining as many customers as possible.

* Accurate address validation requires the latest address data. All QAS customers receive regular data updates.