Experian increases collections insight with new data enhancement service

News release

Contact:
Anna White / Victoria Collinson
LEWIS PR
Tel: + 44 (0)20 7802 2626
Email: experian@lewispr.com

EXPERIAN INCREASES COLLECTIONS INSIGHT
WITH NEW DATA ENHANCEMENT SERVICE

Nottingham, UK, 18 February 2009 – Experian^®, the global information services company, today launched a new data enhancement service for the UK collections market. Powered by Experian’s data and analytics, the new service will help lenders and collections houses improve customer insight by scoring and appending a range of valuable information to customer files.

Representing the latest addition to Experian’s Strategic Collections Platform, the data enhancement service enables collectors to better assess the propensity of each customer’s ability to pay, maximise right-party contacts and more effectively prioritise debt for collection.

The full service, run as a fast and effective batch process, will:

• Cleanse collections data by validating it against a range of corroborative sources, including telephone records, gone away indicators and deceased flags
• Append data with up-to-date contact information about the customer, including mobile, work and home telephone numbers, and any forwarding addresses
• Provide key elements from the customer’s credit file, including public data such as bankruptcy, IVA and CCJ information, as well as shared credit performance data for eligible organisations
• Profile demographic and behavioural data to provide a better understanding of a customer’s lifestyle, income, wealth, household composition and predicted patterns of behaviour
• Provide an indication of the customer’s asset base, including an estimated value for any vehicles or property they might own

The combination of these insights will enable collectors to prioritise their debt portfolios by ranking debtors based on ease of collection and also improve the allocation of collection resources.

Simon Waller, Head of Collections at Experian, commented: “Our latest collections service is unmatched in the marketplace and is yet another example of Experian driving innovation where clients need it most. By successfully tracing more debtors and arming collectors with accurate, up to date and enhanced customer information, organisations will realise dramatic improvements in right-party contacts, promises to pay and promises kept.”