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State-of-the-art DataLab in Singapore focusing on breakthrough experimentation with data to drive an increase in financial inclusion across Asia where 1 billion people remain unbanked
COSTA MESA, Calif. and SINGAPORE, Dec. 11, 2018 -- Experian, the leading global information services company, today announced that its international DataLabs is expanding in Asia Pacific. Increased investment into an existing innovation centre in Singapore will create the fourth Experian DataLab, adding to an international footprint that includes facilities in the US, the UK and Brazil. 'Experian DataLabs Singapore' helps businesses solve strategic marketing and risk-management problems through advanced data analysis, research and development.
As businesses around the world look to make sense of their data and capture the value in it through innovative techniques and applications, Experian DataLabs provide a compliant, safe and secure environment for both internal and collaborative research. As well as driving Experian's own highly acclaimed innovation agenda, the DataLabs programme allow clients to work alongside the company's data experts and leverage their combined data assets. The Singapore DataLab has a particular focus on developing innovations to help the 1 billion people across Asia Pacific who don't have access to traditional forms of finance by harnessing alternative data derived from smart phone use.
Eric Haller, Global Head, Experian DataLabs said: "I am delighted to announce the expansion of Experian DataLabs in Asia-Pacific because I am so excited about what we can achieve there – particularly on the important issue of financial inclusion. Only 27% of adults in the region have a bank account and as a result they don't have the financial profile necessary to borrow money on fair, affordable terms. Our Singapore DataLab will have an enhanced focus on innovation that helps consumers and businesses by building accurate profiles of people based on alternative sources of data, leveraging high levels of smart phone use in the region across all demographic groups. Working with consumers, we want to help them get the most out of their data, help them get access to the financial system and affordable credit – and ultimately help them to achieve their goals."
Experian has been operating an innovation centre in Singapore for more than 18 months. The facility is staffed with a multidisciplinary group of data scientists with PhDs and applied research practitioners with expertise in advanced analytics and machine learning, as well as other advanced statistical methods. As part of the global Experian DataLabs network, the facility will both enhance its focus on addressing regional financial inclusion issues, and co-ordinate with existing projects at Experian's other DataLabs sites around the globe.
Ben Elliott, CEO, Experian APAC said: "Singapore is the ideal place for the Experian DataLab in Asia-Pacific. The country has a recognised and proven focus on innovation built on a first-class business infrastructure, a world-leading start-up ecosystem and a deep and highly qualified talent pool. I am confident that Experian's Singapore DataLab will play a valuable and important role in helping to address pressing regional issues, such as financial inclusion, which we will then be able to adapt and apply in other markets around the world."
Established in 2010, Experian DataLabs operates globally with labs in San Diego, California; London, England; São Paulo, Brazil and Singapore. To find out more about Experian's data innovations and the Experian DataLabs, please visit http://www.experian.com/big-data/datalabs.html.
Experian® is the world's leading global information services company. During life's big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 16,500 people operating across 39 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index. Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the company.
 Financial inclusion for Asia's unbanked – The World Bank
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