Nottingham, UK, 22 August 2013 – Experian®, the global information services company, today announced it is working collaboratively with Compello, one of the fastest growing consumer debt purchasers in the UK, to develop sector leading data and analytics software.
Compello will be combining in-house expertise across all business areas with powerful, relevant and timely information on consumers supplied by Experian. As part of this, the implementation of Experian’s sophisticated pinning software, ExPIN, will provide improved data quality and matching capabilities, ultimately allowing Compello to link all accounts a customer holds regardless of possible variations in their data, giving them a comprehensive single view of their customers.
This will enable Compello to develop a suite of collections products that will be appropriately tailored to the individual, facilitating clear, concise and appropriate communication with customers which will ultimately improve and simplify their experience.
Experian will provide Compello with the raw data, software and services needed to enable it to drive consumer contact and strategy at every decision point within the debt purchasing process. Over time, Compello will be able to build its own ‘mini credit bureau’ - a complete warehouse of records which will grant the firm full autonomy to adapt its in-house strategy to reflect the changing needs of the market, but with a dedicated team at Experian to support.
Compello’s bespoke suite of collections products will be utilised to perform in-house analysis, helping to determine future strategy and pricing decisions for the organisation, resulting in more effective collections activity and ultimately lowering company expenditure.
Sarah Lambert, Chief Executive Officer at Compello, said: “Compello is known for providing fair and compliant tailored solutions to individuals looking to resolve their financial difficulties, so understanding the economic and social circumstances of our customers has always been at the core of our business. As we work to produce market-leading software to drive our client contact and collections strategy, whilst constantly adapting to a changeable regulatory landscape, we remain committed to making the journey as seamless as possible for our customers. Experian will provide us with valuable support by supplying the third party data and ExPIN technology needed to form a complete view of our clients, enhancing the services we can offer. Going forward, we will be able to adapt and develop this collaborative solution to be better targeted in our processes, and we continue to value Experian’s ongoing support.”
Jonathan Westley, Managing Director of Experian’s Consumer Information Services in the UK, added: “Compello has shown an admirable commitment to strengthening its in-house capabilities. Combining the quality and depth of information provided by Experian through its sophisticated ExPIN technology, Compello will be building a sustainable tool for the business and continuing on its path to rapid growth in the debt purchasing industry. We look forward to working with Compello to develop this dynamic new product.”
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 2013 was US$4.7 billion. Experian employs approximately 17,000 people in 40 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.