Due to changes in the Privacy Act that came into effect in March 2014, the requirements for handling a correction request to consumer credit files have changed. Our corrections platform assists you to comply to the Act, but also improves on current processes in place across the industry to handle corrections. Through our relationships with Equifax and Dun & Bradstreet, we will deliver the most efficient & trusted means for you to correct credit data.

Network

Australian Credit Data provides the only solution to provide access to a full network of Australia’s credit providers, as provided by Equifax and Dun & Bradstreet.

This means that, as a credit provider who may be required to send data to a 3rd party, you can trust us to reach that entity and help you meet your compliance obligations.

Importantly, most credit providers will be able to use this service on a low transactional fee basis. This structure encourages participation from the network.

Multi-Bureau

We provide the only genuine multi-bureau solution to assist manage corrections requests and complaints.

Both Equifax and Dun & Bradstreet will use our solution to implement corrections on their credit bureaus.

The benefit for credit providers lies in end-to-end automation of the correction process that will result in lower fees within your bureau relationships.

We are also able to pass corrections to any other credit bureau in Australia.

Communicate

Credit providers and bureaus alike have new obligations under the Privacy Act that require notification be sent to the consumer at various stages of the correction process.

Our solution provides a powerful communications platform that allows credit providers & bureaus to manage their own tailored communications.

This gives you absolute control over what you say to a consumer, the method you choose to deliver the message, and when you send the message.

Because of our relationships with leading credit bureaus, we are able to understand the outcomes of all corrections that pass through the system, ensuring your communication is accurate and effective.


Security

Our platform will minimize the use of email for subscribers, thereby raising the bar on information security processes for the handling of a consumer’s personal credit information.

As Equifax and Dun & Bradstreet will be subscribers to us, they will be using the platform to request information from credit providers on cases that may originate with them.

Logging and responding through us will see information passed back from within the system. The case is able to be passed between multiple credit providers and credit bureaus without needing personal information sent via email, thereby lowering the risk of a compliance breach.



Customise

Recognising that no two credit providers’ processes are the same, we use a technology platform that allows credit providers and bureaus to deploy their own bespoke approval and escalation processes, as well as their own communication strategies.

This flexibility in workflow allows for users to handle these cases in the most efficient manner possible, leading to lower resourcing requirements and cost of doing business.

Report

We are able to provide system users with a reporting module that tracks all the key metrics needed to manage your compliance and system requirements.

As all data is stored centrally within our system, including correction requests and investigation outcomes, this is able to be accessed and reported upon.

Data available to be reported upon includes analysis of key trends at a macro level within credit provider’s own requests for corrections, as well as facilities to assist audit requirements under investigation of an individual record.