Its SCV Solution appends a unique reference number to supplied records based on the comprehensive name and address data it holds, as modelled by the Equifax Predictive Sciences team.
This approach has already condensed customer records at one major banking group by 20 per cent.
“New regulation [requiring banks to build a SCV] may be viewed by some as an unwanted expense in already difficult conditions, but the potential benefits could be far-reaching,” said Neville Seabridge, Equifax business development director.
“Organisations are seeking more efficient and effective ways to market products and services accurately to their customer base and SCV offers a welcome solution to this challenge. Quality data is the key to successful SCV.”