Moscow, 31 October 2014 - Experian, the global information services company, has held Experian Day, an International Conference devoted to the most efficient utilisation of customer data by banks and financial services organisations in order to enhance credit product performance and simultaneously prevent fraud. The theme of Experian Day was “Unlock the Value of Data to Make Confident Decisions”.
Charles Butterworth, Managing Director, Experian EMEA, stressed in his welcome speech to Experian Day visitors the importance of a new business approach to collaboration with clients especially in terms of the new economic situation. Sergey Gorashchenko, Head of Branch, Experian Decision Analytics Russia and CIS, focused on the new opportunities presented by the era of data-driven business.
Mikhail Matovnikov, Managing Director – Chief Analyst with Sberbank of Russia OJSC, stated in his speech on the current situation in the Russian economy: “The banking system, together with the Russian economy, is living through the first cyclical crisis in its history. We can get a fundamentally different bank default model. Initially, the governing factor of bank losses was fraud, but with the development of risk management practice, credit bureau appearance and service, the problem was basically solved, and now the issue of internal fraud is appearing. Besides, a major role in default has been played by the factor of the borrower's debt load: portfolio quality problems occurred at the junction of irresponsible credit policy on the part of the banks and equally thoughtless approach of the borrowers incurring too much debt. However, it is possible to mitigate such risks, and there are already indications that such problem is on the whole localized due to the CBR efforts. A new risk appears if borrowers default as a result of losing their jobs, suffering revenue decline, rising living costs and other economic factors. Maturation of a new type of risks and reduction in real income of the population demand that banks should review their existing models to check if they are still good enough to fit the new situation”.
The results of successful implementation of Experian solutions aimed at managing lending processes in the European branch chain were shared by Ian Glover, Head of Retail Risk, Sberbank Europe. Alexey Zhukov, Retail Risk Director, Alfa Bank Kazakhstan, spoke about the effect of optimization of the business process for assessing the bank’s borrowers’ creditworthiness with the help of Experian’s PowerCurveTM Strategy Management.
Chris Thomas, Sales Director, 41st Parameter, an Experian Company, introduced FraudNet in his presentation presentation, “Cyber fraud can be timely detected and prevented". He discussed how the innovative online fraud prevention service is reducing losses and operating costs for a number of American banks and European organisations by serving to identify each device used for receipt of online banking services.
The best practice of implementation Experian solutions by leading Western banks’ was shared by Stephen Gildert, Head of Banks and Financial Services, Experian Decision Analytics, EMEA in his presentation "Managing customers cost effectively across the life cycle:How to cut costs?"; Burak Kilikoglu, Global Consultant Experian EMEA in his presentation "Peculiarities of collections under economic instability"; and Stefan Stoyanov, Head of Analytics, Experian Decision Analytics EMEA, in his presentation “Achieve competitive advantage through compliance and capital optimization".
Psychometric testing as a method of checking creditworthiness was the topic of the presentation "Alternative methods of predicting customer behaviour" by Abishek Varadarajan, Product Director, Credit Risks, VisualDNA. Credit portfolio management rules and trends common for the market were described in the presentation “Industry matching – a reliable indicator. Benchmarking" by Anton Podshibyakin, Product Development Manager, United Credit Bureau.
In his presentation "Challenges and Risks: New Opportunities" Sergey Gorashchenko, Head of Experian Russia and CIS, stressed that: "today, financial organisations are forced to operate in quite hard conditions: they have to quickly and efficiently process a large inflow of data on their customers, simultaneously offering them the most profitable competitive decisions, with due regard for regulatory requirements. It is quite difficult to set these processes relying just on the companies’ internal resources, so Experian solutions in this case help to efficiently build the whole workflow of the financial organisation, from the point of receiving a loan application from a new customer, to risk control and potential fraud prevention, to debt restructuring and offering a new financial service to an existing customer".
Experian Day 2014 brought together representatives of banks and the largest financial and credit institutions of Russia and CIS, such as Sberbank, United Credit Bureau, Alfa Bank Kazakhstan, etc.
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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 2014 was US$4.8 billion. Experian employs approximately 16,000 people in 39 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.