Mandatory name-number-check at money transfer?

NameNumberMeaning

Through the increase of modern technologies our payments are processed electronically more and more. Banks try to reduce costs and force their customers to carry out the payments themselves. Internet banking has become the standard. Customers no longer can deliver written transfer orders at their bank, but have to book the transfers using internet banking facilities.People can easily make a typing error in the account number that still will result in an existing account number. The risks are fully on the customer’s side. Although banks always are willing to help them to get the money returned, it’s better to avoid these errors.

In my opinion, banks should be obliged to perform a name-number-check for every payment or at least for every larger amount. Continue reading ‘Mandatory name-number-check at money transfer?’

What’s the value of unique identifiers

In a survey by Human Inference processes were discovered to be the most challenging data quality aspect.

HI Survey Results
HI Survey Results

Since in processes often unique identifiers are used to identify customers, accounts or data in general the reliability of these identifiers influence the quality of your process. To avoid incorrect results and decisions a check of the data related to the identifiers is required. The illegal use of such an identifier leads to polluted data. A name-number-check should be implemented for e.g.:

  • bank account numbers
  • social security numbers
  • chamber of commerce numbers