|
LexisNexis Releases Accurint SureContact for Collections
New product combines Accurint® technology with LexisNexis® information to help locate debtors even faster
BOCA RATON, FL, April 29, 2005 - LexisNexis, a leading provider of legal, news and business information services, announced the release today of Accurint® SureContact™, a new skip tracing product that is designed to help improve right party contact rates. SureContact combines innovative Accurint technology with additional LexisNexis® data content to help the collections industry better locate debtors.
The debt collection industry plays an important role in the American economy as it recovers billions of dollars that are injected back into the economy and to merchants -- to help save businesses and jobs. Consumers also benefit. Industry research has shown that by returning money owed to U.S. businesses, the collection industry saves American families on average $331 a year in money they otherwise would have spent if businesses raised their prices to cover losses to bad debt.
The challenge to the collections industry is that research shows that approximately 35 percent of delinquent debtors move annually, and half of all accounts received for collections require some form of skip-tracing. At any given time, billions of dollars in consumer loans are in delinquency.
"The key value of Accurint SureContact is the increased right party contact rate which will help the collections industry locate more debtors, increase the dollars collected, shorten the collection cycle, and improve the return on each dollar spent," said Dane Mauldin, Vice President of Collections Solutions for LexisNexis Risk Management business unit. "In iniitial customer tests, Accurint SureContact has shown a significant increase in right-party contacts over competing products – enabling customers to improve their collection performance. Initial customers have been pleased with the results."
Built on proprietary Accurint data-linking technology, Accurint SureContact cleans debtor account information, and then matches it against multiple nationwide databases. SureContact provides multiple points of contact from a single query, and helps eliminate unproductive call attempts by identifying bankrupt and deceased individuals.
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based Lexis® and Nexis® research services, the company includes some of the world’s most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, JurisClasseur, Abeledo-Perrot and Orac.
For more than 30 years, LexisNexis has been a pioneer in secure data sharing, and information policy. Through its risk management flagship products, Accurint®, Banko®, PeopleWise® and RiskWise®, LexisNexis helps to locate people and assets, authenticate identity, enable commerce, conduct background screening, and support national security initiatives. Customers include almost every federal government agency, the top 100 law firms, and Fortune 500 companies in the fields of national security, financial services, collection and recovery, insurance, telecommunications, e-commerce and retail.
|
