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Experian enhances consumer credit insight with newly available home credit data

UK lenders to benefit from most accurate picture of credit commitments yet

September 16, 2008

Experian®, the global information services company, today announces that it has upgraded its consumer credit reporting capabilities to include previously unavailable data released as part of the Competition Commission’s review into the Home Credit industry. By incorporating this additional data, Experian is able to provide its consumer credit information customers with the most accurate insight yet into the credit commitments of prospective borrowers.

The Competition Commission review required Home Credit lenders employing more than 60 or more agents, or with a turnover in excess of £2 million, to supply data on their customers’ borrowing activity and payment records. Experian is the only credit reference agency to hold data from all 12 major lenders directly affected by the review and is the first to offer its customers access to this data.

Paul Speirs, Commercial Product Manager at Experian, comments: “The implementation of the Home Credit Order across the industry is good news for lenders and borrowers alike, as increased information sharing will inevitably improve the assessment process. The additional data enables Experian to provide lenders with the most comprehensive view of consumers’ borrowing available on which to make their credit decisions.”

This press release can be downloaded from http://press.experian.com.

Executive quote

Paul Speirs, Commercial Product Manager at Experian, comments: “The implementation of the Home Credit Order across the industry is good news for lenders and borrowers alike, as increased information sharing will inevitably improve the assessment process. The additional data enables Experian to provide lenders with the most comprehensive view of consumers’ borrowing available on which to make their credit decisions.”

About the company

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. Continuing sales for the year ended 31 March 2008 were $4,059m (£2,020m / €2,858m).

For more information, visit www.experiangroup.com.

Contact details

Anna White or Victoria Collinson, Lewis PR
Tel - 44 (0) 20 7802 2626
Email - experian@lewispr.com

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Experian enhances consumer credit insight with newly available home credit data

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