CHADDS FORD, PA – January 10, 2023 — Today, Bridgeforce Data Solutions (BDS), a leading financial technology firm, announced the launch of their new Data Quality Scanner®(DQS) Disputes Module. This is a patent-pending solution that leverages the combination of BDS’ Data Quality Scanner (DQS) Furnishing Module rules, Metro 2® data, and ACDV data to create first-of-their-kind credit bureau disputes insights and benchmarking that significantly improve outcomes and reduce costs.
This new release could not have been possible without the help of Amazon Web Services (AWS). BDS was able to rely on AWS to provide the flexibility needed to experiment with new architectures. Because AWS already meets all the necessary compliance requirements in the highly regulated industry, BDS had the confidence to experiment with new tools, without having to go through lengthy requirements processes.
“We’ve been collaborating with Amazon Web Services since 2018, leveraging their robust services as we continue to innovate data-driven solutions for the consumer lending industry,” said Matt Scarborough, CEO, Bridgeforce Data Solutions. “Our new DQS Disputes module is the result of a recent idea leveraging knowledge and tools we have built over years in a new way, and the flexibility and scalability of the AWS environment enabled us to go from product concept to launch readiness in less than 60-days. As a result, consumer lenders of all sizes can now see their customers’ data journey end-to-end for the first time, mitigating the #1 CFPB Complaint and Consumer Litigation Area and improving the customer experience.”
BDS has relied on a host of different AWS products to allow for a seamless launch of this new module. The use of AWS Identity and Access Management and AWS directory Service for Microsoft Access Management has been a great help with user authentication. In addition, AWS’ S3 policy provisions provide BDS with an outstanding source for protecting their data assets. The robust configuration allows for S3 and policy protections to source all data to the correct client and blocks access from all others. This greatly improved the ability to onboard new clients while ensuring best practices for data compliance.
Before BDS started working with AWS, it took up to a week to create these new instances and onboard clients, now that BDS has switched to AWS architecture, new instances can be created in less than a day.
Other tools that led to the quick development and launch of the new module were AWS Lambda, Amazon Kinesis, AWS batch, Amazon DynamoDB, and Amazon Relational Database Service. The latter has helped BDS analyze results across a variety of datasets, some of which contain hundreds of millions of rows of data. With Amazon RDS, this data can be quickly and efficiently compared across the entire dataset to provide valuable insights to customers.
In future iterations, the Disputes Module will leverage an AI pipeline developed via Data Wrangler and Sagemaker Canvas to provide predictive, actionable insights to clients. BDS believes that enhancing these capabilities with Sagemaker will allow clients to achieve significant operational savings, while mitigating costly compliance and regulatory risk.
During the development of these future enhancements, AWS Enterprise Operations team has continuously provided high levels of support and access to resources through their direct support. When a situation arose where a Machine Learning testing environment was not operating properly, AWS’ support technicians were quickly able to identify the root of the issue and work through a solution with the BDS team. This led to no downtime in continuing the development of the new Disputes module when significant delays could have occurred.
“We are happy to see Bridgeforce Data Solutions continue to lead the way in the development of new specialized financial technology solutions that improve their clients’ outcomes by significantly reducing regulatory risks and operational costs. They continue to come up with first-of-its kind ways to utilize our solutions and are a great example of using AWS to best serve their clients. We look forward to seeing what they develop in the future using our new AI tools,” says Ben Schreiner, Head of Business Innovation, US SMB for AWS.
Bridgeforce Data Solutions is actively working to integrate new AWS tools, not only into 2024 product launches, but internal processes as well. “AWS has already become a tremendously valuable collaborator to us, and I’m excited to see the impacts of tools like CodeWhisperer, CodeGuru, Textract, Bedrock, and the new version of QuickSight upon our development speed and AI-enabled solutions in 2024,” says Scarborough.
For more information or to schedule a demo of the new DQS Disputes Modules, please contact:
Mike Eisel
[email protected]
VP of Product and CRM
About the Data Quality Scanner (DQS) and Disputes Module
Utilizing the robust ruleset from the DQS Furnisher Module, the new DQS Disputes Module leverages Metro 2® Data and ACDV data to help lenders of all sizes gain further insight into costly disputes and revolutionize the insights that can be provided across datasets within Credit Bureau Data Handling, Data Furnishing, and Disputes Operations.
About Bridgeforce Data Solutions
Bridgeforce Data Solutions is a financial technology firm that provides automated credit reporting and disputes compliance and benchmarking solutions to help consumer lenders of all sizes inspect, benchmark, and optimize their credit bureau data.
