PerformLine launches new assessment tool

Today at Money20/20 PerformLine launched the Complaint Risk Signal Platform , a free tool providing insight to anyone wishing to compare how different companies in the same product line compare to each other.

The results are generated from PerformLine’s proprietary technology that searches the internet for instances of misleading or non-compliant advertising. They also access the Consumer Financial Protection Bureau (CFPB) database to determine the frequency and severity of complaints against specific companies, or the frequency of complaints against vulnerable groups such as seniors or military personnel who may be on duty and not able to respond to immediate financial issues.

Alex Baydin, CEO and founder, PerformLine.
(Aaron Houston NJBIZ)

“A couple of things are happening,” Mr. Baydin explained. “We want to understand how risk is tied to complaints. If a company is bumping up against a threshold complaints, that is like the smoke to the regulatory fire.”

Mr. Baydin and the PerformLine team have a regular dialogue with the groups tracking complaints such as the CFPB, BBB and Federal Trade Commission and know the threshold that usually triggers a regulatory response. They also can track data generated in-house by calls that come into a company’s help desk.

The process is ongoing, Mr. Baydin said.

“We look at how to enhance the service by accessing additional complaint data from different sources and by leveraging AI technology to make the data richer.”

Learn more about PerformLine:

Interview with Mr. Baydin

Platform enhancements

Silverback Social acquisition