Financial institutions handle a lot of extremely sensitive information. That’s one of the reasons it’s so important that your financial institution protects the information it handles and the people who give that information over. When you’re handling this type of sensitive information, you need to make sure you’re using Tracers data to keep both people and information safe. Here are some ways in which Tracers can protect you and your customers.
Gather Identity Data for Verification
Verification is an important facet of any financial agency. Whether you’re loaning out money, offering the ability to open bank accounts, or issuing credit cards, you need to know you’re doing it to the right person. That means you have to verify each person’s identity on a regular basis, which can be difficult with some databases.
Instead of having to do each and every piece of identity verification on your own, you may want to use Tracers’ various data options to verify people’s identities for you. Because Tracers matches documents through multiple points, you can rest assured you’re getting the correct documents for each person.
Use Your Preferred Method for Investigations
Every time you perform an investigation, you need to set it up in the best way possible for your needs. Different companies will want to use different methods of investigation. To that end, Tracers offers a variety of methods to get to the data you need, including:
- Individual Searches
- Batch Processing
- Partner Searches
These are all useful ways to get the data you’re looking for. Whether you’re running just a few searches per week or you’re running thousands every day, Tracers data can handle your searching needs, making it easier for you to expand your business.
Communicate With Third Parties With No Fear
Third parties are an important part of running a financial service. You communicate with your customers every day, but what about third parties like licensed investigators or law enforcement agencies? When it comes time to communicate with those third parties, you need information that can let you do it safely.
Tracers data gives you the opportunity to understand third parties you need to communicate with. Whether you’re handling investigations or you’re considering a business partnership, Tracers data can help you look into their background, verify their information, and more.
Cross-Reference With Other Industries
There are many industries that collect information that might be important. Whether you’re screening someone for a loan or you’re trying to mitigate corporate risk along with your employees, you might need different types of industry information. Tracers collects data from these industries and more:
- Law Enforcement
That means it’s easy to gather criminal records, bankruptcy filings, legal information, and more about people you want to investigate. Cross-referencing data is an important part of verifying identities and understanding a person’s background. Tracers data utilizes cutting edge technology with data matching algorithms and a built-in cross-referencing system to provide you with useful data on every search.
Improve Your Company’s Due Diligence Policies
Due diligence is an extremely important part of running a company. Companies need to do their due diligence when they’re bringing on additional partners, purchasing a new company, or otherwise making significant business decisions. Utilizing large amounts of Tracers data is the best way to improve on your existing due diligence policies.
Every time you make a significant business decision, you need to do some research. This is important to ensure that you’re making strong decisions, but it’s also important to ensure that you’re not legally liable for any issues that may arise because of the decisions you make regarding other individuals and companies. Utilizing Tracers data is the best way to rid yourself of liability.
“One of the biggest differences between Tracers and [other providers] is the personally identifiable information that Tracers provides.”
What Can Tracers Do to Maximize Your Financial Institution’s Agency
Your financial institution needs to invest in data that can truly protect itself and its clients. You utilize data in every facet of your operations as a financial institution, which is why you need access to high-quality data that helps you maximize your organization’s efforts to understand your company better. Tracers offers that high-quality data, making it the clear choice for your financial institution.
When you utilize Tracers data, you’re protecting your company. Tracers offers over 43 billion records from over 6,000 sources, including proprietary sources you can only get from Tracers. These records make it easier for you to conduct background checks, get criminal histories, and partner with third-party investigators. No matter what you’re using it for, you deserve the widest array of data available to you, and you can find that through Tracers.