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Comprehensive Overview of Informatix's FIDM Data Match System

Discover the benefits and security features of Informatix's FIDM Data Match system, including statistics, consortium information, and interstate data sharing. Learn about the process, benefits, security, and outreach services provided by Informatix to state revenue agencies.

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Comprehensive Overview of Informatix's FIDM Data Match System

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Presentation Transcript

  1. FIDM/FIRM PresentationSEATA Conference July 10th, 2017 April 1, 2008

  2. Overview of Tax Match • Overview of System • Security • Benefits • Consortium Information • Statistics • Q/A Discussion

  3. Informatix FIDM/Data Match States

  4. FIDM and Tax Match • FIDM legislation drives and defines the Tax Match process • Informatix solution provides both match and lien components and a Call Center • Outreach Services for FI’s and State Staff • Solution meets Department of Revenue’s need to discover assets, increase collections, and answer customer concerns • Informatix currently provides Data Match Services to 51 state agencies (12 Revenue Agencies)

  5. Match Methods • Method 1 (All Accounts) Each quarter, the financial institution will submit to Informatix a file containing the required information on each of the institution’s depositors. • Method 2 (Matched Accounts) Each quarter, Informatix will generate a debtor file to each financial institution. The financial institution will be responsible for running the data match and returning a file containing only the matched records.

  6. System Overview

  7. Security • Operations Center Security • Key Card Entry, Camera system • Data Security • Meets IRS Pub 1075 Requirements • Data is used for matching purposes only • Encryption of data at rest • Authorized personnel receives/processes media • All Data is shredded or destroyed • Media Tracking - Bar Code System • History of Secure Processing: Informatix has never had a single piece of data compromised or lost in 17 years of FIDM processing

  8. Benefits for Revenue Agencies • Increased collections immediately • Implementation in 90 days or less • More targeted approach to bank levies • Immediate data match results • Increased Payment Activity due to Frozen Assets • Outreach Services and Technical and Customer Support Hotlines • Extensive customizable reporting • Increase in Taxpayers that make Payment Arrangements • Utilization of current matching software (no changes for FIs) • Decrease in time it takes to issue a levy • Low Cost • Highly Secure Transfer Methods and Processing Center • Informatix has long-term good relationships with FIs

  9. Consortium Information • Lead State issues RFP on behalf of member states • 2 ways to establish consortiums through contracting • Lead State contracts with vendor, member states contract with lead state for services • All member states contract with vendor individually

  10. Benefits of Inter-State Consortiums • Sharing of Data Across State Lines • Best Practices • Access to other states in-state FIs • Discovery of Accounts in other states • Increased Collections • One Procurement Process for multiple states

  11. In-state Statistics Florida DOR (Quarter 1, 2017): Number of FIs: 315 Number of Debtors: 421,005 Number of Matches: 521,717 Located Funds: $10,863,722,519 California FTB (Quarter 1, 2017): Number of FIs: 581 Number of Debtors: 3,326,778 Number of Matches: 5,330,991 Located Funds: $34,917,595,079

  12. Interstate Statistics

  13. Informatix Story • We are the largest Data Match vendor in the country with over 50 state agency customers • Informatix has been providing FIDM/Data Match services to state agencies for 17 years • We currently match quarterly with over 12,000 Financial Institutions • Informatix was founded in 1986 and has been providing IT support services to state government entities for 31 years

  14. Discussion

  15. Contact Information Thanks for your time today! • Danielle Pittman – Director, Data Match Services danielle.pittman@informatixinc.com (623) 322-9638 • Diane Hogan – Business Development diane.hogan@informatixinc.com (512) 840-1354

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