ICMI's Customer Management Insight - December 2007 - (Page 25) S T R AT E G Y BY JANIE IADIPAOLO for vice presidents, directors and managers with strategic responsibilities M How Secure Is Your Center? Leading industry officials voice methods for protecting — and informing — customers. Veracity attracts. Tell it to customers straight, and they are more likely to respect and respond to you. In disclosing to your customers the details of how their personal information is handled, truthfulness is not only the morally correct policy, it may also make the most business sense. Or so it seems was the case when the online lender, E-Loan Inc., introduced an offshoring avenue to its customers. In February 2004, ELoan informed their customers, via the online home equity application, that the underwriting step of their applications would be processed in Bangalore, India. E-Loan gave customers the choice to opt out of the outsourcing function, and also indicated that their loans could still be underwritten in the regular facility in Pleasanton, Calif., the location of ELoan’s headquarters. The only expressed advantage E-Loan presented their customers with was the possibility of having their loans processed a day or two earlier (given the locations’ time differences, when the business day closes in California, the day commences in India). Furthermore, E-Loan provided the name and credentials of the vendor they use in India. Within its privacy policy, E-Loan also supplied CLICK HERE Listen to an interview with E-Loan’s Tess Koleczek. icmi’s insight www.icmi.com | DECEMBER 2007 25 http://www.icmi.com
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