Chadds Ford, PA, September 17, 2024 – Bridgeforce, a leading financial services consultancy and provider of consumer reporting and disputes solutions, today announced its enhanced suite of Fair Credit Reporting Act (FCRA) compliance accelerator solutions. Banks and credit unions can choose from nine proven programs, each focusing on a critical compliance component, to strengthen their operations and meet regulatory requirements.
According to Bridgeforce Managing Partner and Chief Compliance Officer, Michelle Macartney, “CFPB exams are increasingly rigorous, and consumers expect clean and accurate data. These forces are putting more pressure on furnishers to ensure data quality and appropriately handle disputes. Bridgeforce’s FCRA accelerator services provide the specific help that different lenders need to meet their accuracy and compliance goals.”
Bridgeforce helps lenders minimize disputes, ensure compliance, and enhance operational efficiency. By streamlining the Metro 2® furnishing process and delivering critical assessments, we ensure that client data is reliable and fully prepared for both internal and regulatory reviews.
Solutions:
We assist lenders in identifying key risks and inconsistencies within their furnishing and disputes processes. Bridgeforce works closely with clients to prepare them for regulatory exams and develop FCRA-compliant policies and procedures, ensuring that Metro 2® furnishing and dispute handling meet the highest standards.
Solutions:
Our comprehensive training programs equip lenders with expertise to create accurate credit reporting files and understand specialized Metro 2® criteria. Also, Bridgeforce ensures that lenders are fully prepared for product launches by validating the accuracy and compliance of their Metro 2® furnishing logic.
Solutions:
“This is just the right way to handle credit reporting,” said Michelle Macartney about the state of consumer reporting compliance today. “It’s not just about avoiding penalties; it’s about improving data quality, boosting efficiency, and embracing sound risk management practices that should already be in place.”
Bridgeforce’s FCRA Compliance Accelerator packages decades of credit reporting consulting and best practices for an efficient compliance experience. Some solutions can be implemented in as little as two weeks.
Bridgeforce Data Solutions, a leading fintech, offers the Data Quality Scanner, an end-to-end accuracy solution for credit reporting and disputes.
The Data Quality Scanner is an automated, low-cost, low-IT AWS cloud-based diagnostic tool with two modules: Furnishing and Disputes. The Furnishing module assesses Metro 2® data quality before or after furnishing for 100% of furnished data, while the Disputes module identifies Metro 2® data issues in credit bureau disputes, how credit bureaus transform furnished data, and how well dispute agents resolve data quality issues.
These unique features make the Data Quality Scanner a powerful solution for the 50+ financial institutions of all sizes that actively use it, including top banks, credit unions, and fintech lenders, a testament to our industry leadership.
PMG delivers powerful integrated solutions to drive efficiency and compliance in business processes. With 25 years of experience serving four million end users in over 100 countries, PMG’s low-code development platform has empowered leading enterprises to achieve 70%-80% savings in critical areas of their businesses.
Case Central® is PMG’s off-the-shelf case management solution that provides a centralized place to organize and store all the information, communications, and files related to a case. By integrating data from multiple existing financial systems, Case Central® for Dispute Management ensures that employees verifying consumer credit disputes have access to all the information required to conduct their investigations thoroughly and efficiently.
For 24 years, Bridgeforce has helped lenders improve accuracy and provide evidence-based compliance to meet regulatory expectations. We have also helped organizations:
With a 95% client re-engagement rate, Bridgeforce has the knowledge and experience to develop and implement best-fit solutions that are both achievable and sustainable. Contact us.