Re-establishing contact and updating details with inactive, dormant, lost, or missing stakeholders (customers, shareholders, policyholders, beneficiaries) is now a business necessity, rather than just an exercise of compliance. Individuals are changing their contact details (cell phone, landline, email etc) repeatedly, moving addresses frequently and in some cases leaving the country altogether. Even though technology has improved, data is not always up to date and access to certain data has become more restricted with changing data protection laws. In addition, typical response techniques, such as post, email, and telephone are becoming less effective, due to saturation by blanket postings, spam, and telemarketing. Companies therefore find themselves managing an increasing amount of inactive accounts, which are not only a burden but also a lost opportunity.
The Shareholder Partnership (TSP) provides a range of customised local and global verification & tracing solutions that suits all type of businesses including Credit Providers, Attorneys, Debt Collectors, Insurance companies, Pension Funds, Third Party Administrator and Public companies. TSP’s service complies with the NCA, Debt council and all other pending and relevant legislations. In view of our considerable experience in dealing with consumers details, we are confident our company is equipped to meet clients requirements in an efficient and cost effective manner.
How does the Verification process work?
Depending on the data, the Verification process is usually split between low and high level tracing.
Low Level
Data is continuously cleansed through the TSP in-house database as well external data providers. Once a record is matched, it is handed to the call centre to telephonically confirm the details with the consumer.
High Level
Following the low-level process, all untraced data is put through a combination of manual and automated tracing processes. This usually involves the lengthy process of lead generation, which is done through profiling the person and contacting probable matches including similar names, organisation/clubs, relatives, neighbours, and occupiers of old addresses. We also contact government departments for leads on whether the person is deceased or emigrated.
In addition, we use an extensive SMS, post, email, fax, telegram, and phone contact strategy. We allow stakeholders to come to our offices to confirm their personal details and we also visit the area and speak to people who might give us a lead on the person’s or their families whereabouts.
Services Offered
- Individual Verification - This is used where a client wishes to make contact with subjects via residential/postal details, plus update cell/phone/fax/email.
- Employment Verification - This verification is used for handling of section 58 letter of demand or just simply confirming employment.
- Business Verification - This is used to verify if the company is still in business, validation of the registration number and number of directors.
- Global Trace - This is used to locate the subject if he/she has emigrated.
- Deceased Trace - This is used when the subject has passed away, and there is a need to find the Next of Kin/Beneficiary and/or Executor.