Experian launches service to increase visibility of potential fraud and identify hidden credit risks associated with business owners
Costa Mesa, Calif., Aug. 16, 2011 — Experian®, the leading global information services company, today launched its Business Owner Background ReportSM, a new patent-pending service that combines Experian’s commercial data, consumer data and proprietary technology to link business owners and principals to their current and previous business interests, identifying risks that may be overlooked with traditional risk-assessment tools.
“Business owners may have hidden risks that could affect the way their business meets its financial obligations, such as undisclosed financial commitments and previous fraudulent activity. In the current economy, it is more important than ever to identify these risks before they result in potential credit and fraud losses,” said Allen Anderson, president of Experian’s Business Information Services. “We developed the Business Owner Background Report product line to provide unprecedented visibility into a business owner’s relationships by combining our extensive consumer and commercial data assets with state-of-the-art analytics, enabling users to reduce credit risk and increase profitability.”
The Business Owner Background Report provides a comprehensive view of the business owner by identifying liabilities across all known business associations that may represent a credit risk. The report includes the time frame of the individual’s association with the business and the financial condition of each of the business owners’ current affiliations, allowing users to evaluate a business owner’s risk across all of their business assets.
Additionally, Business Owner Background Report assists users in reducing fraud by verifying application information, validating that an applicant is an authorized representative of a business, identifying suspicious activity associated with the owner’s consumer credit file and revealing associations with individuals and businesses that may have been associated with fraud losses in the past.
Business Owner Background Report enables users to:
• Identify a business owner’s or principal’s current business interests and historical affiliations
• Reveal liabilities and commercial credit performance across all of a business owner’s current affiliations
• Identify conditions and relationships that suggest an owner or a principal may be linked to fraud
• Prioritize commercial collection efforts based on an owner’s business assets
• Uncover additional contact locations for more successful commercial debt collection
Business Owner Background Reports are available in three different formats that include varying levels of detail to meet specific business needs. All three Business Owner Background Reports are available online through BusinessIQSM, as well as through direct integration methods, including CPU-to-CPU and XML delivery. Basic linkage reports are also available via traditional batch delivery.
For more information about Business Owner Background Report, BusinessIQ or Experian’s other advanced business-to-business products and services, visit http://www.experian.com/b2b.
Contact:
Roslyn Whitehurst
Experian Public Relations
1 714 830 5578
roslyn.whitehurst@experian.com
About Experian’s Business Information Services
Experian’s Business Information Services partners with organizations to establish and strengthen customer relationships, enabling them to mitigate risk and improve profitability. The company’s business database provides comprehensive, third-party-verified information on U.S. companies of all sizes, with the industry’s most extensive data on the broad spectrum of small and midsize businesses. By leveraging state-of-the-art technology and superior data compilation techniques, Experian is able to provide market-leading tools, such as BusinessIQ, that assist clients in processing new applications, managing customer relationships and collecting on delinquent accounts. For more information about Experian’s advanced business-to-business products and services, visit http://www.experian.com/b2b.
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 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 againstidentity 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 March 31, 2011, was $4.2 billion. Experian employs approximately 15,000 people in 41 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 http://www.experianplc.com.
Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.