News release: 16 September 2008
Contact:
Anna White / Victoria Collinson
LEWIS PR
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Experian enhances consumer credit insight with newly available Home Credit Data
UK lenders to benefit from most accurate picture of credit commitments yet
Nottingham, UK, 16 September 2008 – Experian¨, the global information services company, today announces that it has upgraded its consumer credit reporting capabilities to include previously unavailable data released as part of the Competition Commission's review into the Home Credit industry. By incorporating this additional data, Experian is able to provide its consumer credit information customers with the most accurate insight yet into the credit commitments of prospective borrowers.
The Competition Commission review required Home Credit lenders employing more than 60 or more agents, or with a turnover in excess of £2 million, to supply data on their customers' borrowing activity and payment records. Experian is the only credit reference agency to hold data from all 12 major lenders directly affected by the review and is the first to offer its customers access to this data.
Paul Speirs, Commercial Product Manager at Experian, comments: "The implementation of the Home Credit Order across the industry is good news for lenders and borrowers alike, as increased information sharing will inevitably improve the assessment process. The additional data enables Experian to provide lenders with the most comprehensive view of consumers' borrowing available on which to make their credit decisions."
This press release can be downloaded from http://press.experian.com.