Privacy Solution A large national financial institution needed a solution that would allow DRIASI to continue providing billing services without carrying live customer account numbers while maintaining seamless service to their customers.
The Challenge
We have a client, a financial institution, for whom we managed an accidental death insurance program. In the past, the financial institution would provide DRIASI with its customer account numbers for the billing of premiums. When Congress passed the Gramm-Leach-Bliley (GLB) Act, the practice of providing customers' account numbers to DRIASI became an issue. The financial institution would fall out of compliance with GLB if it released the account numbers for a marketing campaign, for example. The result? The financial institution determined not to release account numbers to us.
The Solution
Together with the financial institution's marketing partner, we developed a method of housing unique identifiers or encoded account numbers in place of the live account numbers. We established a link with a third party data warehouse to send a billing file carrying the encoded number.
Under the new system, the data warehouse decodes the numbers and appends them to billing files. The files then go through the ACH process. Any rejects would be returned to the data warehouse, where the account numbers and files are again encoded and sent to DRIASI for inclusion into customer records.
The process allows DRIASI to carry premium payment information for reference when customers call while our client remains in compliance with the GLB Act.
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