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Protecting an individual’s personal information in a business development center (BDC) is paramount.
When an individual applies for financing, they are expecting that their information will be held confidentially and that it is safe from identity theft threats. The two significant areas where the responsibility for sensitive material management falls in a BDC are in the office and over the phone. Any slack in either area will open up your BDC to so-called Red Flag violations of the legal requirements of the Federal Trade Commission.
BDCs, whether centrally located or in an offsite location, need to be safeguarded in order to protect the consumers that you are working with every day. With technology, especially as it advances, one quick shot of the screen, and someone can steal someone else’s identity. Situations like this can be easily avoided.
Some simple rules to follow in an office are:
The phone is another area that can make you vulnerable to exposing information about a consumer to the wrong person. On the phone, it is quite easy to do because the only physical verification that you have that you are talking to the right person is the answers that they give.
Some simple rules to follow on the phone are:
Understanding the entire BDC environment allows you to give the consumers that you work with the confidence in your ability to safeguard their identity. In return, this allows them to have confidence in your store and team, knowing that they are going to the right place that can help.
Remember — I am always here for any questions you may have about BDCs or best practices for working the phones. You can reach me via the comments field below, or check out my contact page here.