“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,” Trevor Carone, the vice president of Experian’s portfolio and collections solutions department, said. “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 provides enhanced access to right party contact, resulting in hit rates that are 10 percent higher. The technology also taps data sources like payday lenders and RentBureau data, links with other debt collection products to customize access to past-due accounts and syncs in accordance with a number of system requirements to provide rank-ordered information.
Additionally, the product accesses Experian’s phone and address files from its core database on more than 220 million consumers and 140 million households. The technology also leverages skip tracing data from Experian’s marketing database and provides access to 100 million wireless numbers and contact data for thin-file customers.