Experian launches Dynamic Tracing to provide updated customer information
Nottingham, 13 June 2011 — Experian®, the global information services company, today announced it has launched Dynamic Tracing, a new service that will provide lenders with up to date customer contact details and credit information. Dynamic Tracing greatly reduces the risk of lenders making incorrect decisions based on out of date data.
Experian estimates that, given the frequency with which people change address or other contact details without informing their lender, up to 15 per cent of customer records held by large consumer organisations may not have all of the most recent customer information. There is a significant risk that banks and other lenders will be unable to react quickly to changes in their customers’ financial status, increasing their potential exposure to bad debt.
Dynamic Tracing enables banks and other lenders to ensure their customer data is up-to-date by collating customer contact information, addresses and credit information relevant to the customer at those addresses, from Experian’s databases and highlighting out-of-date information.
Dynamic Tracing will provide further monthly updates, ensuring that organisations have the latest information on their customers and can be implemented into systems alongside existing Experian customer management software or as an ad-hoc standalone service.
Nick Evans, Head of Customer Management at Experian, commented: “Without correct addresses or contact details, lenders may not understand the full picture of their customers and will be unable to react appropriately to changes in their credit status. Ultimately, Dynamic Tracing allows providers to strengthen their customer relationships through more efficient customer management, helping them to make effective and informed lending decisions and reduce their risk of exposure to bad debt.”
Chantal Heckford / Jennifer Comerford / Duncan Skehens
020 7490 8828
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 .