Dial Up For Decisions

Financial institutions will soon be able to access what Deluxe Corp. is calling the industry's first "debit bureau."

Deluxe, Fair, Isaac & Co. And Acxiom Corp are joining forces that will offer information to financial institutions to assist in making decisions about issuing debit cards, putting limits on ATM withdrawals, paying overdrafts, and opening new accounts.

The banking office will be able to access a data base that will provide information on opening and closing of consumer accounts, check ordering tendencies, collection histories and debit card usage. By using this information, decisions concerning an applicant can be made more quickly, and with better intelligence and accuracy, according to a spokesman from Deluxe.

The service is expected to be available in a few months.

Copyright © 1998 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 8, No. 2, 2/98