Tracesmart Awarded Origo Contract To Deliver New Mortality Screening
on: August 10, 2009, 4:05 am
and services body employ Tracesmart's proprietary existence checking
Origo, the eCommerce standards
and services body for the UK financial services industry, has
Corporate as their exclusive service provider to deliver their
new online facility - the Origo Data Matching Service (ODMS) on
a 3 year contract. The bespoke data screening service allows financial
providers to check their customer data against key sources of
information, including records of deceased UK individuals and
those no longer residing at a given address, which in turn helps
them to manage payments in-force, reserves and identify fraudulent
the Cardiff based tracing, identity verification and data cleansing
agency, is one of a small number of companies to receive a weekly
update of the UK Death Registration Information from the General
Register Office (GRO), and this information, along with Tracesmart's
vast consumer database, drives the company's proprietary service
"Existence Alert" which distinctively fulfils Origo's
requirements for its new data matching service.
Pettitt, Managing Director of Origo, commented on Tracesmart's
commission, "Origo is delighted to announce the launch of
this service, which addresses fraud issues and delivers immediate
bottom line benefits for providers. Origo is uniquely placed to
identify collective requirements, following which we have procured
a cost effective service to meet those requirements. We are looking
forward to working with our chosen supplier, Tracesmart, to deliver
immediate benefits to providers."
ODMS will assist providers in mitigating risks associated with
annuity overpayment to the recently deceased, combat 'Impersonation
of the Deceased' fraud and highlight 'gone aways' policyholders
who have moved from their last known address. Tracesmart currently
provide similar services to numerous other financial institutions
throughout the UK, including the vast majority of third party
administrators within the pension sector.
exhaustive examination and assessment, Tracesmart emerged as the
preferred data supplier for Origo's new service and Mike Trezise,
Tracesmart's Managing Director, commented, "We are delighted
to have secured such a significant account. Tracesmart's ability
to fully recognise Origo's requirements is fundamental to our
success. The provision of relevant data, accessed via an easy
to use platform will significantly help Origo's members to verify
customer residency and flag gone aways, in addition to mortality
screening their databases. We look forward to working with Origo
and their associates, to deliver the best possible service."
Williams, Actuarial and Technical Support Manager of Friends Provident,
one of Origo's original members and sponsors, added, "ODMS
will allow Friends Provident to keep in touch with its customers
in a simple and non-intrusive manner, without the bureaucracy
that annuity providers have traditionally used. Using better technology
to reduce costs, whilst not losing sight of our customers, is
what we are all about. As the first company to use ODMS we have
been fully involved in the development of this service and are
looking forward to our relationship with both Tracesmart and Origo."
Established in 1999, Tracesmart Ltd is a leading provider of consumer
intelligence services. It specialises in the provision of both
online tracing and identity verification. Prominent in the pensions,
legal, financial and retail sectors, their fraud prevention and
anti-money laundering solutions are employed by a growing legion
of businesses ranging from SME to FTSE 100 companies.
company's management has recently embarked on a rapid growth strategy,
recently doubling, staff numbers and office accommodation at its
Cardiff Bay headquarters in addition to opening its City of London
office to satisfy existing and anticipated future demands for
its products and services.
Trezise is the founder and Managing Director of Tracesmart. With
over 25 years tracing and fraud analysis experience, his unrivalled
knowledge provides the company with a distinct competitive advantage.
Origo was launched by 16 of the UK's leading life assurance companies
in June 1989 to facilitate the development of electronic trading
between principals and agents for Life, Pensions and Collective
Investment business. In February 2006, the scope of Origo's activity
was extended to include mortgage business.
main purpose is to address cost and efficiency issues for the
UK Life, Pensions, Investment and Mortgage sectors by delivering
common eCommerce services and standards. Origo drives the adoption
of eBusiness by creating a standards-based, competitive and secure
trading environment in which industry goals are being met.
Roberts - Communications Manager
2 Sovereign Quay
Tel: 029 2047 4114
Photographs available on request.