ICS software helps credit bureaus, lenders compare reports.

Credit bureaus and lenders will be able to compare their credit reports automatically through a new software package.

The PC-based software, offered by Integrated Credit Services, compares the credit files suppliesd by the three major credit reporting agencies of their affiliates.

The bureaus and their credit-granting customers currnetly contrast the separate sample reports from the competing agencies to arrive at the one that provides the most accurate information.

Traditionally, credit bureaus and credit grantors have performed this manually, spreading out the reports and comparing the items listed for each account, according to Brian Wolfson, president of ICS.

It would take one person four days to thoroughly compare 100 files, Mr. Wolfson said. However, he said, the file comparison software - called 3bc - can do the same job in one hour.

Accurate Resutls Touted

"With 3bc, the output is uniform and the results are accurate," Mr. Wolfson said. "Basically it's a fair fight, and the bureaus realize that even if they don't win in a given area, the information they receive from our output arms them with what they need to improve their file."

The Fair Credit Reporting Act does not permit regular and continual file comparisons, Mr. Wolfson said. But the credit bureaus and their customers do perform this function on a random basis to choose the best information.

Although this software promises to alleviate some of the creidt reporting burden, ICS has not received a much-desired endorsement for the software fro the three major bureaus - Equifax, TRW, and Trans Union. Trans Union has expressed the most interest, purchasing 20 copies and 400 demonstration copies of the application for its affiliate bureaus.

After three years of development, Mr. Wolfson said, the software "still has a way to go," primarily to customeize the proudct for the bureaus' needs.

"Ultimately, we believe our product will contribute to an overall increase in credit bureau file quality throughout the country," Mr. Wolfson said.

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