According to the two companies, "the “MoveManager” technology platform combines the industry best practices of regulatory compliance and fraud prevention related to a customer’s address change with patent-pending marketing solutions that enhance portfolio performance. An address change request signals one of the most critical events in the life cycle of a client relationship. From a risk perspective, relocation represents an exposure to potential account takeover fraud and identity theft. From an opportunity perspective, relocation indicates a significant opportunity to meet the evolving needs of existing customers by targeting and delivering relevant incentives to generate new revenues."
According to Voltage, "the visual map brings data breach reporting to life, summarizing historical and real-time breaches, size and scope, types of records, regions affected, industry and more. Perhaps most interesting is that patterns in the data enable the creation of a predictive data breach model. This model predicts, for example, that 14 data breaches will, over the next year, each expose 1,000,000 or more records to potential use by criminals. And, at least one breach of over 10,000,000 records will affect nearly 5 percent of the U.S. population." A white paper is also available.
The company also forecasts that, "as The Credit Card Accountability, Responsibility and Disclosure Act is implemented, businesses will witness a change in consumer spending, with cash and pre-paid cards being a more desirable option among consumers."
Mr Chenault says: “In a crisis what you don’t do is hunker in the bunker. I’m very focused on the core advantages of our business model, what changes need to be made . . . and how to emerge stronger.”
In addition, there are several other provisions including: