Our approach to the development of a credit bureau is to harness the power of the data that is available in each market.
Experian is committed to supporting the credit reference needs of its clients. In order to meet those demands, Experian continues to deploy bureau solutions in both developed and emerging markets.
Experian is the leading provider of credit reference services to the United Kingdom consumer credit industry, handling approximately 70% of all enquiries. These are received from the major UK banks, building societies, credit card companies, finance houses, retail groups and mail order, telecommunications and utility companies.
Experian was the first company to offer computer-based, on-line credit reporting services in the United States of America, and now is the leading provider of credit data and services. The Experian US bureau database combines information from lenders with publicly available records, providing a comprehensive and accurate view of the US credit marketplace.
Experian started a consumer information bureau services in South Africa in 1996; to soon become the major provider of credit reference services within the country; more then 50% of the enquiries are currently submitted to the Experian bureau solution. State of the art value added products have been gradually deployed, including bureau score, fraud detection, tracing and ID verification.
Serasa is the world's biggest negative credit bureau. The solution has been live in Brazil since the late sixties and is currently operated by Experian. Extra features and value added services (e.g. fraud prevention tools) are being developed to meet the needs of the growing Brazilian economy.
Experian is entering the credit reference market in India by developing a new consumer credit bureau. The solution is expected to go live in 2010. Experian's entry strategy is also based on the deployment of efficient, state of the art, value added products, such as scoring models, fraud prevention tools, portfolio monitoring, tracing solutions, and direct to consumer services.
A consumer credit bureau solution was developed in 2008 on the requirements provided by Bank Al-Magrib (the Central Bank of Morocco); the solution is currently operated by Experian and is the only credit bureau licensed in Morocco.It is used by all the banks, finance houses and micro-credit organizations active in the country.
A credit bureau solution was developed in 2005 to be operated by Experian in joint-venture with Interfax, a Russian data provider organization. Sherbank, Russia's largest bank, has recently taken a large stake in the business. The solution provides trade and enquiry data with a custom bureau scoring model fully integrated within the credit reporting system. The solution has been fully customized within the past years to meet the different requirements raised by the local data protection legislation. A set of value added products, including account management, risk triggers and direct to consumer solutions, are under developement.