Credit Bureau Expertise
In today's highly competitive markets, lenders need to ensure that they are making the right credit decisions.
Why Choose Experian?
Mike Herman, Ford Credit Europe: 'Their innovative products and services enable us to access the data and interpret it quickly and consistently.'
Experian’s Bureau Formula
Our approach to the development of a credit bureau is to harness the power of the data that is available in each market.
The Experian Bureau Solution
A credit bureau system needs to be tailored to the market and legal requirements relevant to the country where the solution is to be deployed.
Experian’s Bureau Formula
Our approach to the development of a credit bureau is to harness the power of the data that is available in each market. State of the art solutions, leveraging extensive global resources and capabilities, are then tailored to meet local needs and expectations.
From Data to Added Value
Experian's recipe successfully integrates quality data with value added products and services that proactively support the credit life cycle.
This process also ensures that the data and solutions are provided in full compliance with the specific local market and legal requirements.
The core of the system is a central database that would typically comprise:
- Trade records (positive and negative credit accounts)
- Bureau enquiries (previous searches submitted to the bureau by the subscribers)
- Custom data structures specific for the local market (public information, public utilites data, microfinance data, ...)
The bureau solution also provides the ability to generate real time callouts to external third party data sources.
Best Practices and International Standards
The development and delivery of a credit bureau system employs best practices and international standards in terms of project management and relevant quality assurance controls, which ensures timely delivery of a high quality new bureau solution.
The entire project life cycle is underpinned by business consultancy support drawing upon Experian's wide expertise in the financial sectors. This will enable the Bureau Operator to further leverage the capabilities of the new bureau model by integrating Experian's best practices.
With specialists in data, risk, and fraud management, Experian provides a unique combination of industry experience, worldwide presence, software expertise, and analytical rigor.
Adapting to Your World
Our process will ensure that the peculiarities of each market, in terms of business and legal requirements, are considered and embedded within the final solution.
The delivery project life cycle:
- Feasibility Study
- Dependencies Outline
- Success Factors
- Risk Analysis
- User, Market and Legal Requirements
- Business Specification
- Data Analysis
- Functional Specifications
- IT Infrastructure Design and Configuration (if required)
- Application Development, Core System and Value Added Solutions
- Testing (Unit, Integration, System)
- User Acceptance Testing
- Subscribers' On-boarding
- Live Implementation
- Bureau Roadmap, Definition and Implementation