Date post: | 12-Jul-2015 |
Category: |
Education |
Upload: | moumita-shabur |
View: | 202 times |
Download: | 4 times |
Bureau EorrrsCredit
Bureau EorrrsCredit
Bureau EorrrsCredit
Errors
Bureau EorrrsCredit
Errors
Big People Problems
Group 23
MIS Case Presentation
Institute of Business AdministrationUniversity of Dhaka
CASES U MM A RY
HO W C R E D I T B U R E A U S W O R K
Sources Credi t bureau Credi t report
Data Information
3 U S N A T I O N A L C R E D I T R E P O R T I N G
A G E N C I E S
3 U S N A T I O N A L C R E D I T R E P O R T I N G
A G E N C I E S
3.5billion
Every month
pieces of information
1 in 5 Americans
has a mistake
in their credit report
Source: www.creditcards.com
3 M O S T C O M M O N C R E D I T B U R E A U E R R O R S
Ident i ty
errors
Incorrec t account
deta i l s
Fraudulent
accounts
C R E D I T B U R E A U D I S P U T E P R O C E S S I N G S Y S T E M
e-OSCAR
Electronic Online Solution for Complete and Accurate Reporting
third-party contractor
72%Success rate
CASEQ u e s t i o n s
Question 1. Assess the business impact of credit bureaus’ data quality problems for the credit bureaus, for lenders, for individuals.
For c red i t bureaus For lenders For ind iv iduals
hass le of correc t ing
Credibility Wrong business decisions Lose money as well as
clients
Ruin life
Question 2. Are any ethical issues raised by credit bureaus’ data quality problems? Explain your answer.
Respons ib i l i ty
Accountabi l i ty
L iab i l i ty
Golden Rule
YES
Question 3. Analyze the management, organization, and technology factors responsible for credit bureaus’ data quality problems.
Management
Fac tors
Organizat ional
Fac tors
Technologica l
Fac tors
Lax credit application procedures
Incomplete or inaccurate creditor information
Lack of consistency in customer personal information
Dismissal of second dispute claim
Lengthy and cumbersome dispute filing procedure
Third party contractors and 2-line coding system
Question 4. What can be done to solve these problems?
C h e c k c r e d i t r e p o r t s r e g u l a r l y
D a t a s c r u b b i n gD a t a Q u a l i t y A u d i t
C u s t o m e r v i g i l a n c e w h i l e
f i l l i n g o u t i n f o r m a t i o n
A c c u r a c y a n d c r o s s c h e c k i n g o f
l e n d e r s
R e a s s e s s o r r e f o r m c r e d i t
b u r e a u s y s t e m
THANK YOU!