Conducting business ethically, such as not doing business with entities engaged in criminal activity like human trafficking, is important for a company’s reputation in hiring and acquiring customers. A breach of trust is more than a risk of a fine or a lawsuit, it can permanently damage the ability of a company to hire the highest-quality candidates and complete key deals. CRAs that provide this data to clients have both an obligation to their customers AND significant rules and regulations that they must follow as well.
Having accurate, up-to-date data is a key component for CRAs to stay compliant and competitive. Outdated data isn’t just a problem for a CRA’s clients, it poses a serious compliance risk for CRAs themselves. Many databases are only refreshed a limited number of times each year and cannot meet the legal requirements that CRAs have to comply with.
Vital4 delivers the most up-to-date data for CRAs to stay compliant and deliver the best services to their clients. Leveraging Artificial Intelligence with proprietary algorithms Vital4 was designed to ensure that the best, most accurate data is available – on demand.
When discussing these topics in a recent meeting, Amy Barbieri, President and co-founder of Vital4, expanded on this:
“Until switching to Vital4Search, a Vital4 customer had been using their legacy data product to run criminal checks for due diligence purposes (a critical piece of the credentialing process) when onboarding their customers,” Amy said.
“In testing Vital4Search, this customer discovered a discrepancy in the data they received from their legacy product compared to our data. It led them to discover that their legacy solution had provided criminal data that was outdated and still had a record for an event that had been expunged or sealed. The record pertained to a principal that the customer was conducting due diligence on. We confirmed the results for them by doing a court record check and confirmed that the record had been expunged and or sealed. We did not disclose the record, of course, since the record is no longer legally reportable after being expunged or sealed.
“If that customer had used the data provided by the legacy product, it could have resulted in a major compliance risk to their organization. That’s why fresh, accurate data is essential to avoid compliance risk for anyone conducting background checks.”
Vital4 is designed to be tested. Data accuracy and trustworthiness is the core of the background screening business and is the essence of how Vital4 was created. As you evaluate your data suppliers, ensure they are using data that is fresh, legal and compliant for the security of your business.
An independent data product also ensures that you aren’t competing directly with your vendor – through consolidation. Vital4 was built by background screening veterans with decades of industry experience to be the most accurate, up-to-date, and compliant data.