Istanbul, Turkey, February 07, 2017 - Consumers with limited credit history will now be able to get faster access to more financial products, following a new partnership between Experian and REIDIN. The new initiative will also help improve the quality of the credit evaluation processes thanks to the Experian PowerCurve Strategy Management platform, which will also use REIDIN’s real estate sale, rental values and indices to underpin decision-making. It means more institutions will now be able to quickly evaluate customers’ real estate data, while also being able to secure more automated online credit approvals and to calculate Loss Given Default by using current data.
Experian Turkey General Manager Mehmet Bozacıoğlu says: “Experian has been supporting credit institutions to make effective and right decisions about their customers in Turkey for the past 20 years. These credit institutions can analyse current applicant data and transform it into actionable strategies within a matter of milliseconds by using Experian’s PowerCurve Strategy Management platform. We place great importance on responsible lending and continue to invest and innovate in this area including our social responsibility projects. In this instance, we were keen to help consumers with limited credit history and wanted to help rejected but right customers to access credit using richer data sets. We have started to look for such a data resource and now, with REIDIN’s strong real estate data more institutions will be able to get access to in-depth information with Experian’s PowerCurve Strategy Management platform without having to send their data out of their institution. They will also be able to reach this data in batches and online, which will help their evaluation processes of online applications. ”
REIDIN Turkey Country Manager Kerim Alain Bertrand adds: “REIDIN has been providing data and analytics to the real estate sector in developing countries for the past 10 years. We are providing market data and analysis to hundreds of companies involved in or serving the real estate industry inside and outside the country. We are also closely related with the finance industry providing housing finance to consumers. To help improve our services to the finance industry, we have started offering joint solutions with Experian. As a result of the partnership, we are also sharing automatic evaluation, socio-economic rating and house sale / rent values, together with the real estate data to help support and supplement known financial data. The service is instant and fully integrated via the Experian PowerCurve Strategy Management platform.
“REIDIN’s reliable, rich data sets with over 90% accuracy and covering 98% of all real estates in Turkey, combined with Experian’s technology expertise in finance sector, a very strong solution has evolved. We can now help meet banks’ needs for fast estimates and evaluations. We also help banks evaluate consumers with limited credit history and reduce their data security concerns. We believe that this partnership will further contribute to the real estate industry during 2017 by especially speeding up the credit approval processes.”
About Experian
Experian is the world’s leading global information services company. At life's big moments – from buying a home or car, to sending a child to college, to growing a business by connecting it with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 17,000 people operating across 37 countries and every day we’re investing in new technologies, talented people and innovation to help all of our customers maximize every opportunity. Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Learn more at www.experian.com.tr or visit our global content hub at our global news hub for the latest news and insights from the company.
About REIDIN
REIDIN is the leading Emerging Markets Real Estate Information Company servicing developers, financial institutions, investment companies, analysts, appraisers, consultancy and real estate companies by providing them the analytical data, analysis and researches they require for their business.
Companies use REIDIN platforms to analyze real estate supply, demand and price data at micro location level. Using REIDIN companies develop short, medium and long term strategies, make market related factual estimations, increase sales, identify opportunities, monitor competition, reduce their costs and more importantly manage risk.