When going Green equals Fail

Recently I’ve come across a growing number of disgruntled people who are all falling into the same trap.

Banks, credit card companies, energy suppliers, telephone operators and the like all now like you as a customer to opt for an online statement as it is bost cost effective (to them) and also helps reduce the environmental impact of printing.

However, the world of credit scoring has yet to catch onto this fact and still demand 3 months of X, Y and Z as proof you exist and are worthy of the business service you’re requesting.

And here lies the dilemma: how can you do this when you don’t receive any paper statements anymore ? Copies from the internet are not widely accepted, asking various companies for a copy of a bill can be problematic and time consuming and defeats the purpose of not requesting them in the first place.

Is this a time to the archaic credit scoring system to embrace a more digital age and look at the available information in the domain held by other companies ?

If Insurance companies can hook into car registration and police databases for fraudulent activities before allowing insurance on a car, can’t the financial system do the same and check with utility providers etc on a customer’s status ?

Any in the banking/ financial sector care to come forward and give their views ?

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One response to “When going Green equals Fail

  1. Please remember that credit agencies are in business of making money and they don’t want to be very cost effective when issuing a credit score. Nor do they want to be challenged to make corrections or admit errors ( they want you to due their legwork for free) which would be part of result if they went for electronic database searches.

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