Initially, Experian will provide value-added information services and help organisations to find, develop and manage customer relationships. These services will include systems designed to enable Indian organisations to prevent fraud, as well as to maximise revenue and minimise risk by accurate management of their customer information. Several banks in India have already availed of a range of services provided by Experian.
Richard Fiddis, managing director, Emerging Markets Development for Experian, said: “Experian’s aim is to use our worldwide experience to benefit the local financial community and to be the place where lenders in India look for information, decision analytics and anti-fraud solutions when they have to make a financial decision. We believe our services will ultimately provide great value for many markets including financial services, retail and mail order, telecommunications, utilities, media, insurance, automotive, e-commerce, manufacturing and property. Experian’s presence in India is not only a significant financial investment in the country, but is evidence of our commitment and belief in the future growth and development of the country’s economy and financial services sector. We shall take this opportunity to invest in the right people locally, with the right skills, experience and local knowledge to serve our Indian clients.”
Stephen Denby, managing director, Experian-Scorex EMEAI (Europe, Middle East, Africa and India), commented: “We view India as a strategically important market for our future development, and are convinced about the benefits that our solutions can bring to Indian companies. Since the consumer credit market is still at an early stage in its development, it is vital now to create a world-class risk management structure upon which further advances can rely.”
As part of its portfolio of services, Experian will provide decision analytics solutions to Indian financial services and telecommunications sectors. Decision analytics is the process of managing customer data through techniques such as scoring and segmentation, to enable an organisation to develop appropriate strategies and actions for each customer depending on their individual circumstances. These techniques help organisations to maximise the potential of their customer base at every stage of the relationship.