A Credit Bureau is a critical part of the financial infrastructure of any country. It provides rapid access to accurate and reliable standardised information on potential borrowers, enabling lenders to evaluate credit risk more accurately and to reduce lending processing time and costs. This in turn promotes profitability and increased credit activity.
#Experian assists in establishing and supporting Credit Bureaux in markets around the world with consultancy services and systems for Information Services Businesses
The benefits at a glance:
Lenders can use Credit Bureaux to make better lending decisions
Consumers can utilise Credit Bureaux service to gain access to credit
Governments and central banks can use Credit Bureaux to help manage consumer and business indebtedness
Businesses can utilise Credit Bureaux to gain access to credit
Provide accurate information to lenders that can have an effect on creditworthiness, thus assisting in an objective credit decisioning
Protect consumers against over indebtedness by helping lenders ration credit based on capacities to pay
Enable lending to new low risk customers with no previous credit history
Verify information supplied by the applicant and be aware of known or suspected fraud concerned with the applicant
Authenticate the applicant & Discover any links between the applicant’s personal finances and business dealings
Limit fraud within your organisation
Tell us about you and your company’s needs:
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With help from Experian’s tracing solutions, we were able to reduce our ‘goneaways’ back book and reunite more of our customers with funds owed to them. This solution helps us work towards our original purpose of helping people take responsibility for their future and achieve a lifetime of financial security. The communication with Experian throughout the project was fantastic and we’re pleased with the results.
Sarah Simpson, Aegon
Functionality that delivers your goals
Experian Decision Analytics division provides solutions that enrich customer data and allow organisations around the world to proactively manage their relationships with their customers. As one of the world’s foremost decision solutions companies, Experian delivers more than five billion decisions annually and enables connectivity to over 70 Credit Bureaux worldwide. Experian provides:
Provides solutions that enrich customer data and allow organisations around the world to proactively manage their relationships with their customers
Strives to increase the amount of, enhance the quality of and improve the cost-effectiveness of credit information data and associated services throughout the world
Already provides decision-support solutions on a global basis, and has a keen desire to partner to create improved data sources and services
Has an outstanding reputation for security and confidentiality in the management of sensitive data sources
Has pioneered the concept of data sharing between institutions in many markets, enabling critical information to be shared in a manner that protects both the consumer and the lender’s interests
Is a trusted partner of major financial organisations throughout the world
Experian seamlessly integrate data with scoring, software, analytics and consultancy, making it uniquely qualified to offer innovative business intelligence solution that allows organisations to manage risk, reduce operational costs, deliver focussed and appropriate customer service and so increase overall profitability in areas such as customer management and customer acquisition
Experian establishes Credit Bureau or information services organisations in markets around the world
Consulting and systems can also be supplied to organisations planning on establishing an information services business. Experian has become a trusted partner of organisations worldwide, working with over 30 Credit Bureau organisations globally.
Credit Bureau solutions and consulting services have been supplied to banks and banking associations, government organisations and supervisory bodies in both developed and emerging markets. These services have been particularly in demand in the fast-growing economies of Central and Eastern Europe, South-East Asia and South America.
The Experian Group operates 15 national Credit Bureaux, which are the first or second bureau in each market. These bureaux solutions include the UK and USA, which offer a wide range of information, including consumer, business, vehicle, insurance and a number of value-added services including authentication, fraud prevention and the indebtedness index.