By Andy Davies, Financial Institutions Relationship Manager at Estatetrace
Enhanced Tracing Services for Financial Institutions
At Estatetrace, we offer enhanced customer tracing services for financial institutions to help them re-engage with gone-away customers or dormant account data sets. However, Estatetrace is unique as it is part of the Estatesearch group of companies.
The Power of Integration with Estatesearch
This means our financial clients can benefit as we can support them not only with customer tracing services but we can keep them up to date if one of their customers has passed away with early information.
Real-Time Insights into Deceased Customer Accounts
Estatesearch works with legal professionals to establish the assets within estates of deceased individuals, and private client solicitors will instruct financial asset searches through Estatesearch’s secure platform. While recently working with one building society to trace dormant account holders, an Estatesearch asset search was flagged on our shared system because one of the subjects had recently passed away. This meant that our Estatetrace team was able to inform the building society that the customer had died and provide details about the executor of the estate even before the Grant of Probate was available.
Improved Customer Outcomes Through Executor Identification
For financial institutions, this means better outcomes for customers. It is far better to work with an executor where their validity to communicate about a deceased customer can be proven by the court than needing to prove a grief-stricken relative is who they say they are.
Reducing Gone Away Customers with a Smarter Approach
As we grow as a group of companies, these instances are becoming more common. Our better together approach means customer tracing services become a smoother and easier process and financial institutions can keep data sets updated more easily. It also means fewer customers slip through the net and become another line on the ‘gone away’ customer list.