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Press Release

PerformLine and The College of New Jersey’s MBA Program Partner On Natural Language Processing Initiative

March 06, 2024

The project will identify trends in CFPB Complaint Narratives to provide invaluable insights into the lexicon of consumer dissatisfaction, offering a novel approach to preemptively identifying and addressing potential areas of concern.

(MORRISTOWN, NJ)—PerformLine, the industry leader in omni-channel marketing compliance technology, has announced a partnership with The College of New Jersey (TCNJ) and its Business Analytics MBA program to embark on a project leveraging Natural Language Processing (NLP) to analyze complaint narratives. This initiative seeks to uncover prevailing trends and issues faced by consumers in the financial sector, specifically focusing on data made publicly available in the Consumer Financial Protection Bureau’s (CFPB) Consumer Complaint Database.

The CFPB, a federal agency tasked with overseeing consumer protection by financial institutions, operates a comprehensive Complaint Database. This database, which has amassed over 3.2 million complaints as of the start of 2023, serves as a pivotal resource for understanding the challenges and problems consumers encounter with financial products and services. Through a collaboration, PerformLine and TCNJ aim to delve deep into the narratives contained within the database, employing advanced NLP techniques to identify and categorize the underlying causes of consumer grievances.

Michael Gibney, Director of Client Solutions at PerformLine, expressed enthusiasm about the partnership, stating, “This collaboration with TCNJ will provide a resource for better assisting our clients in the way they protect consumers. We’re excited to work with this extremely talented group of MBA students to harness the power of NLP to pinpoint the root causes of consumer complaints more effectively, thereby enhancing efforts to safeguard consumer interests.”

On the academic front, Professor Ziyue Huang of TCNJ highlighted the educational and practical implications of the project, “Working with PerformLine offers our students a unique opportunity to work with a cutting-edge technology company to apply their knowledge in a real-world context. This project not only contributes to their academic growth but also plays a vital role in advancing consumer protection measures.”

PerformLine is excited to grow its relationship with the TCNJ MBA program, and confident that this partnership will foster both academic excellence and industry progress.

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About PerformLine

PerformLine is the leading platform for omni-channel compliance oversight. Its cloud-based platform is mission-critical for companies to discover, monitor, and act on compliance risk in their marketing, sales, and partner channels. Through sophisticated technology, the PerformLine platform provides end-to-end marketing compliance automation, from the review of material before publication to continuous live monitoring across consumer-facing channels, including the web, email, social media, calls, and messages. PerformLine is trusted by consumer finance brands and global organizations to make efficient marketing compliance their competitive advantage.

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