Published: Sunday September 03, 2006

GB Group launches rapid online debt tracing tool

The moves comes as UK consumer debt reaches over £1.2 billion, with credit lending accounting for a record £211.9 billion.

In seconds, GBAccelerator-IQ accesses GB Group’s powerful National Register® database, which holds over 30 data sources including the most current and historical electoral roll data covering the last ten years, telephone directory enquiry listings and mortality files – many of which are now updated daily.

Users of GBAccelerator-IQ will also have access to GB Group’s new Multiple Residence file which has been developed with the Royal Mail. It is the UK’s first ever data file that helps companies identify consumers living in multiple occupation properties (shared letterboxes), including flats, apartments, lodging houses and halls of residence which are often problem areas for tracers.

Other new features of GBAccelerator-IQ include:

aerial photography and street mapping featuring 80 per cent of the UK to make property location and identification easier and faster than ever before 
radius searching ability (the majority of debtors move within 10 miles of their previous home) 
ability to locate debtors using previous or existing husband, wife, partner or neighbour telephone and address details using only partial name and address information 
switchable fuzzy searching which helps users to search for difficult to spell or miss-spelt names and addresses. Searches can also be made using middle initials as well as first names and surnames. 
information retrieved is displayed via a single screen view – making the trace process quicker and results easier to analyse. 
Users can also add notes to their searches, making GBAccelerator-IQ an ideal tool for case work and ongoing management of a particular customer account. 
The tool, which is being made available to companies on an annual license, will also be provided via disk based delivery for those customers that require it.

David Green, business development director at GB Group said: “As debt problems escalate in the UK, businesses are coming under increased pressure to recover larger volumes of debt quickly – in response to this, we have developed the most functional and data rich tracing tool in the marketplace.

“GBAccelerator-IQ uses the latest web services technology and accesses the most up-to-date and historic contact information available, ensuring debts can be tracked down and reclaimed extremely quickly and easily - therefore dramatically reducing tracing costs.

“The tool really is the most advanced in the market. In our own tests GBAccelerator-IQ tracked down more debt invaders than competing products and is already being used in areas of national government and security.

“Users involved in debt tracing and recovery will get access to our most recently launched data services – 4C-UK and Multiple Residence. They will continue to benefit as we add further services including our award-winning URU age and identity verification tool in the coming months, and as we bring further innovative data sets to the market later this year.”

The launch of GBAccelerator-IQ follows GB Group’s announcement in May that it would be making all of its products and services available online within the next twelve months.  

GB Group will soon be adding to its web offering with its interactive Data Care online service which will help those in charge of debt tracing to cleanse and append data in bulk or on a record by record basis, resulting in accurate data to further help fast track the tracing process.

GB Group plc has launched a new Internet-based debt tracing tool which is packed with new, ground breaking technology and gives access to rich population data sources, helping companies recover consumer debts more efficiently.