Experian names ComplyTraq an approved vendor of virtual inspections
Experian named ComplyTraq as an approved vendor for virtual inspections. Already an approved on-site inspection vendor for the national consumer credit bureau, ComplyTraq's innovative virtual inspections are now included as a more streamlined approach to onboarding customers and reducing fraud.
Site inspections are required for any business that uses consumer data as part of the protections mandated by the Fair Credit Reporting Act (FCRA) and other legislation governing the use of consumer credit data.
"Virtual inspections were gaining momentum before the pandemic for their convenience and expedience, but with COVID, they became essential," said Mike Garretson, EVP of ComplyTraq.
"We've invested a lot of effort to build a platform that is secure and rigorous but also easy and minimally disruptive to the businesses being inspected. We're happy that Experian sees the same value in this service as we do."
Virtual inspections are conducted using conferencing systems like Zoom or Microsoft Teams combined with ComplyTraq's proprietary web-based software.
During an inspection, the inspected company appoints a representative who is walked through the site inspection by a qualified remote inspector.
When finished, a snippet of code is used to securely transfer the inspection data – including captured images – where its authenticity is validated using geotagging, metadata, and proprietary anti-fraud technologies.
"We see Experian's decision to include our virtual inspection offering as confirmation of the care and quality we've built into this service. That's something we're very proud of," Mr. Garretson explains.
For almost 20 years, ComplyTraq has been leveraging advanced technologies for compliance services to organizations that handle public and private consumer data. ComplyTraq delivers necessary state and federal consumer data compliance regulation tools for credentialing and audit services, as well as employee training.