ng nature of the company’s credit card loans requires that it regularly assesses the credit risk exposure of such accounts. This assessment uses the individual's Discover account performance information, as well as information from credit bureaus. Customer Assistance The company provides its customers with various tools to proactively manage their accounts, including electronic payment reminders and a Website dedicated to customer education. These tools are designed to limit a customer's risk of becoming delinquent. The company reevaluates its collection efforts, and considers the implementation of other techniques, as a customer becomes delinquent. Marketing In addition to working with the company’s credit risk management personnel on account acquisition and portfolio management, its marketing group provides other key functions, including product development, management of its Cashback Bonus and other rewards programs, protection product management, and brand and advertising management. Protection Products The company services and maintains existing enrollments in the following protection products for its credit card customers: Identity Theft Protection: The identity theft monitoring product includes an initial credit report, credit bureau report monitoring at the three major credit bureaus, prompt alerts to key changes to credit bureau files that help customers spot possible identity theft quickly, Internet surveillance to monitor approximately 20 credit and debit card numbers and social security numbers on suspicious Websites, identity theft insurance approximately $25,000 to cover certain out-of-pocket expenses due to identity theft, and access to knowledgeable professionals who could provide information about identity theft issues. Payment Protection: This product allows customers to suspend their payments for approximately two years, depending on the qualifying event and product level, when certain qualifying life events occur. This product covers different events, such as unemployment, disability, natural disasters or other life events, such as marriage or birth of a child. Wallet Protection: This product offers one-call convenience if a customer's wallet is lost or stolen, including requesting cancellation and replacement of the customer's credit and debit cards, monitoring the customer's credit bureau reports at the 3 major credit bureaus for 180 days and alerting them to key changes to their credit files, and providing approximately $100 to replace the customer's wallet or purse. Processing Services The company’s processing services cover four functional areas, such as card personalization/embossing, print/mail, remittance processing and document processing. Card personalization/embossing is responsible for the embossing and mailing of plastic credit cards for new accounts, replacements and reissues. Print/mail specializes in statement and letter printing and mailing for merchants and customers. Remittance processing, a function outsourced to third-party vendors, handles account payments and check processing. Document processing handles hard-copy forms, including new account applications. Fraud Prevention The company monitors its customers' accounts to prevent, detect, investigate and resolve fraud. The company’s fraud prevention processes are designed to protect the security of cards, applications and accounts in a manner consistent with its customers' needs to acquire and use its products. Prevention systems monitor the authorization of application information, verification of customer identity, sales, processing of convenience and balance transfer checks, and electronic transactions. The company uses various techniques that help identify and halt fraudulent transactions, including adaptive models, rules-based decision-making logic, report analysis, data integrity checks and manual account reviews. The company manages accounts identified by the fraud detection system through technology that integrates fraud prevention and customer service. Strategies are subject to regular review and improvement to enable the company to respond to changing conditions, as well as to pro
discover financial services
(DFS:New York Consolidated)
2500 Lake Cook Road
Riverwoods, IL 60015
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