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Experian and Rightmove partner to provide automated valuation models

February 12, 2009

Experian®, the global information services company, and Rightmove, the owners of the UK’s number one property website, today announced a partnership to provide an upgraded Experian Automated Valuation Model, enhanced with Rightmove’s market-leading AVM data and technology.

The partnership will enable mortgage lenders and other clients to benefit from both organisations’ data insight to rapidly obtain property valuations for use in property pricing and customer management activities.

Gavin Snell, Managing Director of Consumer Credit Services at Experian, comments: “In today’s climate, AVMs are becoming an increasingly useful tool for mortgage loan origination and secondary lending purposes. They provide a way to check valuations against wider market performance trends, and even remove entirely the requirement for an expensive physical check of standard property types. AVMs also enable lenders to evaluate their entire portfolios for Capital Adequacy, securitisation and risk management purposes.

“The power of Experian’s bureau data combined with Rightmove’s property data creates a compelling proposition for use across the entire credit lifecycle in multiple market sectors.”

Ed Williams, Group Managing Director, Rightmove, comments: “I am very pleased to have entered into this partnership with Experian. It holds a unique position within the UK financial services market and is a high quality and trusted supplier. Experian has selected Rightmove as its preferred business partner after a detailed evaluation of the existing AVM suppliers. This is further evidence of the superiority of the Rightmove AVM product and our technology. We believe that the marketplace for AVM’s will grow significantly as confidence is restored in the market.”

Executive quote

Gavin Snell, Managing Director of Consumer Credit Services at Experian, comments: “In today’s climate, AVMs are becoming an increasingly useful tool for mortgage loan origination and secondary lending purposes. They provide a way to check valuations against wider market performance trends, and even remove entirely the requirement for an expensive physical check of standard property types. AVMs also enable lenders to evaluate their entire portfolios for Capital Adequacy, securitisation and risk management purposes.

“The power of Experian’s bureau data combined with Rightmove’s property data creates a compelling proposition for use across the entire credit lifecycle in multiple market sectors.”

Customer quote

Ed Williams, Group Managing Director, Rightmove, comments: “I am very pleased to have entered into this partnership with Experian. It holds a unique position within the UK financial services market and is a high quality and trusted supplier. Experian has selected Rightmove as its preferred business partner after a detailed evaluation of the existing AVM suppliers. This is further evidence of the superiority of the Rightmove AVM product and our technology. We believe that the marketplace for AVM’s will grow significantly as confidence is restored in the market.”

About the company

About Experian
Experian is a global leader in providing information, analytical and marketing services to organisations and consumers to help manage the risk and reward of commercial and financial decisions.

Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organisations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage.

For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organisations from financial services, retail and catalogue, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Experian has corporate headquarters in Dublin, Ireland and has operational headquarters in Costa Mesa, California and Nottingham, UK. The Group employs approximately 15,500 people in 38 countries worldwide, supporting clients in over 65 countries around the world. Revenue for the year ended 31 March 2008 was $4bn.

For more information, visit http://www.experianplc.com.

Contact details

Anna White, LEWIS PR. Tel: 020 7802 2626 Email: experian@lewispr.com

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