-Bank customer behaviour maintained in database.
Global Banking News-August 21, 2012–Bank customer behaviour
maintained in database(C)2012 ENPublishing –
Global Banking News – 21 August 2012
, a Minnesota-based company, holds data on the
transaction behaviour of over 300 million customers and provides this to
over 80 percent of banks in the US.
Banks use the data to do background checks on new customers who
want to open current accounts. The data includes a history of accounts
that the customer has held, amounts owed, cheques bounced, payday loans,
and abuse or frauds committed.
ChexSystems scores the customer on a band of 100 to 899, and the
banks can either deny the application or modify the terms under which
the customer is allowed a checking account.
The company was taken over in 2007 by
Fidelity national information
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