Experian enhances unclaimed assets search service for locating lost millions
Nottingham, 16 May 2011 – Experian®, the global information services company, today announced the launch of its new, improved Unclaimed Assets Register (UAR), a fully integrated website enabling consumers and other users to locate lost assets and reclaim money due.
The new register at www.uar.co.uk provides three dedicated access channels for its core audiences: consumers, solicitors and other businesses. Further enhancements remove requirements for paper-based processes, improving both the speed and ease of service, as well as providing a new online tracking service enabling users to monitor the status of their applications.
Consumers may search the UAR with a one-off flat fee and will receive results about their lost assets within two working days. Those who uncover hidden funds are put directly in touch with the relevant providers to reclaim them.
The new service offers solicitors and other legal representatives a custom gateway to locate lost money on behalf of clients, a useful resource in cases where accurate records are unavailable. Solicitors can now open an online account, allowing them to carry out a large number of searches faster and more efficiently.
Businesses, including insurers, pension providers and other financial institutions, can submit customer data to the UAR via a tailored, highly secure online portal. The service provides additional security benefits to business users by using the latest generation of Experian electronic authentication tools to fully validate and verify the identities of users.
The UAR also now offers financial organisations access to Experian’s range of data management services, including automated tracing and mortality screening when submitting their data into the portal. These greatly improve the accuracy of customer data, minimising losses and potential reputation damage.
Jo Buxton, Insurance General Manager at Experian, comments: “There is approximately £20 billion worth of unclaimed financial assets lodged with UK companies. Improvements to the UAR have made it a faster, more intelligent and user friendly service, enabling these lost assets to be reunited with their rightful owners.
“At a time when financial services organisations are under greater regulatory scrutiny around the accuracy of customer data, the ability to use Experian’s market leading data cleansing and management tools adds further benefit for businesses and shows increased due diligence on their part.”
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 .