News Release
Experian is appointed by The Currency Club to support online identity verification
London, 12 October 2010 – Experian®, the global information services company, announced today that it is has been appointed by The Currency Club, the online foreign exchange business, to verify the identity of its online customers.
The Currency Club, a wholly owned subsidiary of Sterling Consortium Limited, has introduced one of the first fully automated online retail currency systems to deal with travel money requirements for its members. The company provides competitive exchange rates throughout the day and provides a free next day delivery for travel money. To reduce the risk of fraud, as well as improve online efficiency and customer service, The Currency Club will implement Experian’s Authenticate Pro Web. Via its electronic, risk-based approach, Authenticate Pro Web validates and verifies existing and prospective customers, enhancing the efficiency at which The Currency Club can process members’ applications while improving the customer registration experience.
Sam Thakkar, Director at The Currency Club, commented: “The deal facilitates a safe and secure environment for The Currency Club’s business to operate in. From a business perspective, we needed a solution that would assist us in adhering to the compliance legislation that we are governed by and enable us to grant membership to new customers efficiently. The customer has to experience a smooth registration process and, as a business, we need confidence that all the relevant checks are done thoroughly and the risk of fraud has been mitigated. Experian is a leader in identity and credit checks, with the ability to draw on multiple data sources, so it was a natural choice for us.”
Nick Mothershaw, Director of Fraud and Identity Solutions at Experian added, “Our work with The Currency Club is an excellent example of how our identity services are transforming the online currency sector. We have created a seamless customer experience that encourages trust while making it very difficult for fraudulent activity to occur. The robust nature of our software also means The Currency Club has the long-term assurance it has a service that will last and evolve as the business grows.”
ENDS
Contact:
Marielle Legair
Experian Public Relations
T: (+44) 07966 102 823
marielle.legair@uk.experian.com
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2010 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
About The Currency Club
The Currency Club is a young and innovative company that has introduced one of the first fully automated online retail currency systems to deal with travel money requirements for its members.
Based in London, The Currency Club is a wholly owned subsidiary of Sterling Consortium Limited. It is listed on the Financial Services Authority register (FSA no. 504439) under the PSD Directive and governed by HM Revenue and Customs as a Money Service Business.
For more information, visit http://www.thecurrencyclub.co.uk