Melissa Powers Meta Payment Systems Initiatives
Melissa, a provider of global data quality and identity verification solutions, today announced itsglobal intelligence tools are fueling know your customer and anti-money laundering initiatives for Meta Payment Systems, a provider of prepaid cards. The firm relies on Melissa to provide a 360-degree view of the customer, including standardizing data to a single address and household using sophisticated identity verification and geocoding in real-time.
Meta Payment Systems' diverse partner base increases the variety and complexity of unstructured data, with customer records topping 30 million daily. Using technology from Melissa, MPS ensures both foreign and domestic data is standardized, validated, and enhanced at the point of entry, meeting regulatory requirements and establishing a single version of the truth across its entire partner base. The solution also geocodes customer data as it enters the system.
"Our diverse partner alliances demand data excellence. Global firms trust us with their customer information and deposits, and we recognize the critical importance of data stewardship in this environment," said Mark Lanners, director of data management at Meta Payment Systems, in a statement. "Not only are costs and inefficiencies reduced via a single view of the customer, Anti-Money Laundering capabilities are protected with improved insight into customer activity."
"Optimized global intelligence empowers MPS to unify customer data from different systems and products, revealing the true relationship between the bank and the individual," said Bud Walker, vice president of enterprise sales and strategy at Melissa, in a statement. "When data quality is a priority, regulatory compliance is streamlined and customer satisfaction is at its peak.
"Data quality is clearly a key driver of know your customer and anti-money laundering operations. And what's most exciting about this technology is the improvement in the downstream experience for our end-users, demonstrated by the large number of corrected customer records, simplicity of tracking multiple changes of address, and compliance-centric focus on customer data," said Ron Van Zantan, senior vice president of data systems and business intelligence at Meta Payment Systems, in a statement.