India’s largest bank contributing its credit data to Experian’s fast growing Indian credit bureau – further enhancing coverage
Mumbai, India – 23 September 2011 – Experian Credit Information Company of India Private Limited, the first CICRA licensed credit bureau in India, today announced that India’s largest bank, State Bank of India has signed a membership agreement to contribute data to Experian’s credit bureau. The State Bank of India is the largest consumer lender in India and the addition of its credit data will further increase the Experian credit bureau’s data coverage and enhance the effectiveness of company’s range of products and services.
The addition of the State Bank of India as a data contributing member represents another significant milestone in the credit bureau’s history since its launch in August 2010. In just over a year, the bureau’s membership count has grown rapidly with members spanning private, public sector, foreign, and cooperative banks as well as Non Banking Finance Companies (NBFCs).
Mr. Pardeep K Khosla, CGM, State Bank of India said: “We are pleased to be a member of Experian Credit Information Company of India. We believe that this membership will allow us to better leverage the multi-bureau environment in India. At SBI we are looking forward to using Experian’s unique globally proven services which will enable us to better use data and analytics. Our partnership with Experian is an integral part of our growth strategy that will allow us to better manage credit risk and leverage our opportunities.”
“We are pleased to have the State Bank of India as a member of our Credit information Company”, said Mr. Mohan Jayaraman, Managing Director for Experian Credit Information Company of India Private Limited. “With the inclusion of SBI’s data and our advanced data loading capabilities, we now provide lenders with an even more comprehensive level of insight into the Indian consumer credit landscape. Our significant investment in creating leading Indian data matching capabilities combined with our experience of operating 16 consumer credit bureaus globally means that we are able to offer leading local services powered by our extensive global resources.”
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.