Starting in Asia, Experian’s Connect+ data integration software will be used by HSBC to enable access, consolidation and aggregation of data from multiple sources, including credit bureaux, and other third party data providers. The service is currently supporting HSBC’s Personal Financial Services business in Malaysia with rollout planned for three more countries in Asia. Following a successful rollout in Asia, the software will then be available to support HSBC operations in specific regions around the world.
Data feeds, which can differ widely from country-to-country, are made available in a standard format for consideration within implementations of Experian’s Strategy Management decision software, already in use at HSBC. This allows consistent decisioning models to be used across different countries.
The common interface created by Connect+ will enable HSBC to further standardise its third party data access around the world. As a result, when HSBC requires external data when making decisions, Connect+ will be used in determining and accessing the most relevant sources of credit information. Connect+ will then gather the data, aggregate it into a consistent format and return it to HSBC.
Underpinned by Experian’s data and analytics, HSBC will be able to deploy enhanced decision systems into new markets, while providing support for cross-border lending by enabling relevant data, where permitted, to be used to support decision making.
Chris Hawkes, Global Head of Retail Credit Risk at HSBC comments:
“Experian is a key strategic partner for HSBC. Its innovative data and analytics are important components of our One HSBC initiative. This initiative is helping us to achieve global standardisation around our risk management processes, obtain greater efficiencies and improve the customer experience we are able to offer. Through working with Experian, HSBC can continue to reduce the barriers to entering new markets, furthering our global reach and our position as one of the world’s leading banks in emerging markets.”
Gary Wood, UK & Ireland Managing Director at Experian Decision Analytics comments:
“Experian’s partnership with HSBC is helping the bank to develop its global banking system. The implementation of Connect+ will enable greater standardisation of HSBC’s third party data sources, while ensuring it is able to consider the most appropriate local data sources for each location.”
Lansons Communications
Chantal Heckford / Jennifer Comerford / Duncan Skehens
Tel: +44 (0)20 7490 8828
Email: chantalh@lansons.com / jenniferc@lansons.com / duncans@lansons.com
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company 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 2010 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.
For more information, visit www.experianplc.com.