Deluxe Corporation has formed alliances with Fair, Isaac and Company, Inc., and with Acxiom Corporation to create a "debit bureau." The debit bureau will be a data warehouse with decision support capabilities to help financial service companies and retailers make better debit decisions when opening checking accounts, setting ATM withdrawal limits, accepting checks, and issuing debit cards.
The alliance combines Deluxe's relationships with financial service companies with Fair, Isaac's decision technology and Acxiom's technology expertise. According to J. A. (Gus) Blanchard, Deluxe Corporation chairman and CEO, "The debit bureau will help [retail and financial customers] manage the risks and expenses associated with payment fraud and enhance their customer relationships and marketing opportunities, while helping to protect the integrity of the nation's payment system and consumers' payment records."
Greg Bjorndahl, Deluxe Corporation senior VP of Sales and Marketing said, "... and because the payment industry will have better and more timely information, consumers could gain more banking and payment privileges that may not have been offered to them in the past." This is the industry's first such bureau.
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