Encourage brand loyalty with a proactive asset reunification programme

Since the Dormant Bank and Building Society Accounts Act 2008 and the statute-backed Unclaimed Assets Scheme came into effect, the BSA has committed its members to proactively assist their customers in reclaiming their assets, whether they are in savings, investments, pensions or insurance policies.

TransUnion are well placed to help you trace dormant members through their innovative Consumer Tracing service CallTrace. Utilising market leading address linking intelligence, based on our unique credit referencing resources, it enables you to identify an individual's other residences in seconds. By looking up a member at their last known address it will automatically show other addresses that they've been active at, highlighting with confidence their main active residence. It also combines data on residency, CCJ's, deaths and information from the land registry to help you make a confident trace.

The system is highly flexible and can be set up to bill by submission or by return of positive information.

Helping you trace bad debtors in-house to recoup loans with ease

When a member strays leaving an outstanding debt, it's important to quickly identify the right approach to take. TransUnion can help you at the outset to identify whether you should pass the debt onto a collections agency or whether it's worth investing more time in tracing the debtor in-house.

A quick debt collection credit check using CallReport will show whether they have any existing CCJs, Bankruptcies or IVAs against their name, giving you some indication of whether you'll be able to recover a further debt through informal means.

Should you choose to pursue the debt further, CallTrace can help you locate stray members internally at a low cost. Using their last known address, it will search links to other addresses that they are associated with to quickly identify their current residence. It will also recognise if they have been credit active in the last 90 days. In keeping with traditional values, this allows you to approach the member directly with a friendly letter before having to take more serious measures.

Along with CallTrace, we also offer Retriever as part of our Consumer Tracing services. Retriever allows you to be flexible in the information you provide concerning a debtor by using an easy free-form text entry box. From the information provided, Retriever uses the individual's credit history without leaving a credit footprint to bring you results of exact matches and of those individuals that have a similar history.

Did you know that we process over 3 million trace requests each month? To find out more about our Solutions for Building Societies please contact us and one of our experts will contact you shortly.

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