Sydney, May 2011 – Experian®, the global information services company, today announced its
intention to establish an Australian credit bureau, subject to regulatory approvals.
It will form a new joint venture company, Experian Australia Credit Services Pty Ltd, with the
intent of providing consumer and business credit information services to Australian credit
providers. This will enable lenders to assess risk and provide credit more efficiently and
consistently, particularly in light of comprehensive data sharing which is currently under
consideration by the Australian government.
Six major Australian financial institutions will hold a minority stake in the new company as joint
venture partners. The six financial institutions are: ANZ, Citibank, Commonwealth Bank of
Australia (CBA), GE Capital, National Australia Bank (NAB) and Westpac Banking Corporation.
As the majority stakeholder, Experian will be responsible for the operations of the credit bureau.
The combination of Experian’s well established Australian business and strong relationships
with many of the country’s leading financial institutions has created the platform to launch the
credit bureau. The new bureau will increase competition within the Australian market, by
providing credit providers with greater choice, and aims to improve transparency for businesses
and consumers about the credit granting process.
The World Bank’s Doing Business annual survey (www.doingbusiness.org), reports on the
progress of credit bureau developments globally. Each year it has shown that consistent credit
data from a third party source can significantly improve the quality of decisions that lenders
make and improve overall access to credit for consumers and businesses.
Against this backdrop, Experian is recognized as the leading global credit bureau provider and
brings over 30 years of international experience to the venture. It operates 16 consumer
bureaus across the world, including some of the largest national databases in countries such as
the US, Brazil and the UK. The company has extensive experience of working in
comprehensive credit reporting environments and managing the transition from negative to
positive credit reporting.
“Our global experience shows that increased bureau competition drives innovation and delivers
better services for clients and consumers,” said Kim Jenkins, the newly appointed Managing
Director of Experian Australia and New Zealand. “The prospect of an inclusive bureau in
Australia, accessible to all industry sectors, will strengthen standards in credit reporting, data
quality and governance which is particularly important in a changing regulatory environment.”
Contact:
Georgia Lennon
Marketing Director
Experian
+612 8907 7218
georgia.lennon@au.experian.com
Liz Kearney
Group Account Director
n2n communications
+61 2 9213 2323
lkearney@n2n.com.au
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.