Experian® announced TrueTraceSM, the latest addition to Experian’s debt collection product suite, which provides best-in-class skip-tracing capabilities across industries.
Experian’s TrueTrace enhances debt recovery efforts with its unique combination of skip tracing data, consumer credit data and several types of alternative data, including exclusive data sources. This product not only accesses Experian’s address and phone number files from its core consumer credit database of 220 million consumers and 140 million households, but also leverages skip tracing data from Experian’s marketing database of more than 250 million consumers and more than 140 million households. Additionally, TrueTrace provides access to 100 million wireless phone numbers and additional contact data for thin-file and underbanked customers.
“This new product is a vital resource in debt recovery and provides our clients with the tools they need to locate past-due customers more quickly and easily,” said Trevor Carone, vice president, portfolio and collections solutions, Experian. “Experian is continually investing in our capabilities to help our clients operate their businesses more efficiently and effectively. With increasing margin pressures in the market, TrueTrace was designed to access the most up-to-date, comprehensive and accurate contact data to streamline skip-tracing efforts.”
TrueTrace can successfully help debt collection efforts with the following beneficial features:
- Increased access to right party contact through enhanced coverage — higher hit rates by 10 percent*
- Unique data sources including payday lender and RentBureau data
- Seamless linkage with FirstSweepSM, a comprehensive debt collection filtering product, that allows clients to designate accounts that require special handling (bankruptcy, deceased, litigious consumer scrubbing and more) and reduce regulatory risk
- Flexible file formatting to conform to a variety of system requirements and streamlined search options for address, phone and wireless phone with the top results rank-ordered for prioritization
To learn more about TrueTrace, as well as Experian’s other debt recovery products, visit http://www.experian.com/business-services/debt-recovery.html .