We recently tested the QSpace system and found the procedure relatively simple and straightforward. The report was easy to read online and printed out nicely. And at a cost of $5 ($8 without a VeriSign certificate) the report is a good value. It took about five minutes to enter all the necessary data and receive the report. It would take a bit longer to answer a few additional questions if you don’t have a VeriSign certificate. We were surprised creditreport to hear from QSpace President, Ike Eze, that he hasn’t had much interest from banks wanting to distribute QSpace/Experian credit reports online.
Though we haven’t done due diligence on QSpace’s security procedures and service quality, Experian seems satisfied with the company’s user authentication and delivery methods. The first financial institution that offers credit reports online will create creditreport quite a buzz in the marketplace.
QSpace will share creditreport revenues with financial institution partners. 3 free credit reports and scores The service could be offered creditreport co-branded or completely private branded. The company is especially interested in strategic partners that could help build the QSpace brand and/or deliver significant volume.
This could be a creditreport good time to cut a favorable deal. The current $5/$8 price may not generate an abundance of fees to share. But the company has a subscription product in development that is expected to creditreport be priced in the $50 range, competitive with Cendent’s PrivacyGuard (see table on p.
10), marketed at $59.99 per year after the three-month $1-trial period. A hypothetical bank/CU with 50,000 unique Web visitors might bag 2,000 subscribers over a 12-month period. credit report number Assuming 20% revenue sharing from QSpace and a creditreport $50 annual subscription price, that amounts to only $20,000 in the first year.
But subscription-based businesses are all about building a base over creditreport time. Assuming a 75% renewal rate and continued growth creditreport of 2,000 new subscribers creditreport each year, by the end of year five the service would be generating $60,000 in annual profits. Plus it will help drive new business to your Web (at least while it is a novelty), increase customer retention and boost loan cross sales. Comments (0) Send Post Email this entry creditreport to: Your email address: Message (optional): Categories: Credit Reports & ID Theft Protection , Qspace
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