Experian data, software and analytics to be used across consumer and business lending
Will facilitate effective and efficient environment for lending decisions
14 November 2011, Nottingham, UK – Experian®, the global information services company, today announced it has signed a three year contract to provide Aldermore Bank with a range of credit information, software and analytical services from its consumer and commercial banking portfolio.
Experian will support Aldermore Bank’s lending activity by providing consumer and commercial credit reference information for new business and ongoing customer management. This data, coupled with Experian’s analytics services, will enable the provider to effectively manage risk and lend more efficiently to its customers.
Aldermore Bank, which entered the UK market in 2009, is currently working with Experian to develop its front office capability utilising the TransactSM application processing system. This will allow the bank to receive, validate and process applications automatically, seamlessly integrating with Experian’s identity verification, bank account validation and contact data management services.
Aldermore Bank will also use Experian’s Hunter fraud prevention service to identify potentially fraudulent applications quickly and efficiently, and will participate in the National Hunter fraud data sharing scheme.
Gary Wood, UK&I Managing Director of Experian’s Decision Analytics business, commented: “For ambitious organisations like Aldermore Bank, having a robust application processing platform that enables it to make fast, accurate and profitable lending decisions is absolutely crucial. Experian’s range of services will be vital in ensuring that Aldermore Bank receives, validates and processes applications efficiently, and will also play a huge role in protecting the organisation’s portfolio from the risk of fraud.”
Paul Myers, COO at Aldermore Bank said: “We have chosen to work with Experian as our primary supplier of credit services because it has the flexibility and capability to provide us with a bespoke solution that gives our customers the best possible experience. Experian’s wealth of data, software and analytics are crucial in supporting our customer decision making across the business. We consider this a key step in our efforts to grow our business, while ensuring that our lending and customer management decisions are based on a complete borrowing picture.”
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 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 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
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