Red Flag

Red Flag legislation is a pressing concern for many financial institutions. It is changing the way lenders do business. The good news is the new practices will greatly reduce identify theft and increase consumer trust. The bad news is the November 1, 2008, deadline is fast approaching and new solutions are bombarding the industry. Do you know what you really need?

A key component in a Red Flag solution is intelligent, automated workflow that is capable of identifying all current—44 at this time—Red Flag indicators. With a robust, flexible solution in place, financial institutions can address more than one aspect of Red Flag criteria at a time while maintaining rapid responses and consistent logic across all lines of business.
Zoot’s Red Flag solution is truly comprehensive.  It is based on our extensive experience in the credit decisioning and loan origination space and developed with expert input and review from third-party compliance specialists. We know how important your customer’s experience and protection is to you, thus our solution delivers best-practice capabilities to seamlessly meet all issues of Red Flag, along with broader fraud concerns.

In addition, Zoot’s Red Flag solution is applicable to all channels and lines of business with the ability to interface with your existing systems. This allows you the simplicity of a single platform and the depth to support each channel’s and line of business’s unique opportunities. Shared logic, used for both instant prescreen and consumer-initiated inquiries, can be easily modified by business users. Across the board, automation allows you to better manage risk while lowering the cost per booked account.

It’s a matter of months for consumer credit grantors to have a Red Flag compliance program in place. Zoot’s modular solution is versatile and offers agile deployment to meet the deadline as well as a solution roadmap looking toward future needs and plans. Our solution is designed for immediate implementation and has the ability to expand along with changes in fraud sophistication. Our premier uptime and reliable, redundant, scalable infrastructure offer the peace of mind you need to attend to the basics of quality lending relationships today while leading your institution into tomorrow.

Satisfying Red Flag requirements means implementing reasonable policies and procedures for detecting, preventing, and mitigating identity theft, but what does all of that mean?

To learn more about Red Flag and how best to meet the demands without sacrificing ROI, view our free webinar.

Contact Zoot at (406) 556-7555 or fill out our information request form today!