• Fullerton India Credit Company Ltd. becomes the first Non-Banking Finance Company to join the Experian National Hunter Closed User Group
• The Closed User Group already includes Axis Bank, HDFC Bank and ICICI Bank
Mumbai, India – 06 June 2012 – Experian®, the global information services company, today announced that Fullerton India Credit Company, India’s leading Non-Banking Finance Company has selected Experian National Hunter, India’s only country-wide application fraud prevention service to prevent costly application frauds. With this the Experian National Hunter Closed User Group membership extends from banks to non-banks.
Application fraud is a growing global epidemic and it occurs when fraudsters (often organized criminals) use another person’s identity to apply for finance or when individuals misrepresent their own information in an attempt to obtain financial services they are not entitled to. Experian’s National Hunter service enables the Indian banking industry to collaborate and share information for early detection of potentially fraudulent applications and helps identify fraud rings. The most effective strategy is to prevent the fraud at the point of application and Hunter achieves this without affecting customer service levels and turnaround times.
Mr. Anindo Mukherjee, Executive Vice President and Chief Risk Officer, Fullerton India Credit Co. Ltd. said: “Experian National Hunter will allow Fullerton India to proactively detect inconsistencies in applicant information in a standardized, scientific and efficient manner across all our fraud control teams. We are pleased to be a member of the Experian National Hunter Closed User Group and join the industry wide collaborative platform for proactive fraud risk management”
Mr. Vikram Narayan, Managing Director and Country Manager for Experian in India, commented: “Experian is committed to supporting the Indian Credit Industry with its suite of global analytical products and solutions. With Fullerton India joining the Experian National Hunter user group, we further strengthen the industry fight against credit application frauds. We continue to receive wide-spread support for expanding industry collaboration provided by the Experian National Hunter user group, which has become the Industry standard in the fight against credit fraudsters”.
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group 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 2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
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