Saturday, June 24, 2006

Development of a due diligence system would require planning, coordination

The following posts suggest the development of a large scale system to help credit grantors perform the due diligence necessary to prevent indentities of consumers from being "copied," and the system would rely heavily on the National Change of Address (NCOA) system as a clearinghouse.

The project would probably be developed by a large software or systems development company, with a consortium of numerous financial institutions (banks, insurance companies, mortgaters) as trial customers for implementation and quality assurance testing. Other software infrastructure companies (Microsoft) would probably participate. The United States Postal Service (USPS) would also be involved as hooks (and sophisticated audits) would have to be put in the systen. XML (various protocols like SOAP) would probably be used to move data between systems in a secure fashion. The software development company would provide formal project management.

Earlier indices (they may drop off as I add more posts):

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