Experian, the global information solutions company, has launched Absolute Contacts.
As the latest addition to Experian's market-leading data integrity portfolio, Absolute Contacts enables financial services organisations to stay in touch with UK consumers once they have changed address.
Over six million (12 per cent) of the UK's population move house each year and almost a third of consumers fail to notify companies they deal with of their change of address. Against this backdrop, Absolute Contacts from Experian provides accurate and up to date change of address information to enable financial services organisations to maintain, or regain, contact with consumers after a house move.
Sophie Sail, Head of Product Management for Experian's Marketing Services division, states: "Absolute Contacts gives financial services organisations the ability to maintain contact with consumers by identifying genuine changes of address to save the costs associated with attracting new customers."
To accurately identify changes of address, Absolute Contacts utilises Experian's wealth of name and address data and proprietary business processes.
Individuals are confirmed as having left an address against Absolute Movers from Experian, the UK's premier source for identifying home movers. Residency at the new address is verified against the current edited electoral roll and other sources of compliant, Experian-proprietary information to ensure that only individuals that can be currently confirmed at an address are included in Absolute Contacts.
Sophie Sail adds: "Not all individuals in a household move house together. For example, children leave home, relationships break up and not all home moves are permanent.
"Dealing with this complexity, Absolute Contacts from Experian reduces waste and the threat of negative PR associated with poorly targeted communications, protects against the risk of identity fraud, and ensures regulatory compliance throughout the course of the customer lifecycle."