Experian s UK Credit Bureau Scores. Version 1.6

Size: px
Start display at page:

Download "Experian s UK Credit Bureau Scores. Version 1.6"

Transcription

1 Experian s UK Credit Bureau Scores Version 1.6 January 2014

2 About Experian Decision Analytics Experian Decision Analytics enterprise-wide solutions combine data intelligence, predictive analytics, decisionenabling technologies, strategy optimisation and consulting services to enrich client data and allow organisations to maximise profitability and performance from their customer relationships. Its fraud and identity solutions enable clients to prevent fraud at all stages of the customer lifecycle from authentication and application fraud through to transactional and open account fraud. Experian Decision Analytics works closely with clients in more than 60 countries across diverse industries, including financial services, telecommunications, retail, leasing, automotive, insurance, government agencies and utilities, enabling them to make billions of customer-focused decisions annually. With over 20 years experience in fraud and identity solutions, the company has clients worldwide and collaborates with organisations, associations and trade bodies to further develop data sharing schemes and support new fraud prevention initiatives. As part of the global Experian Group, Experian Decision Analytics has more than 30 years experience of managing bureau data, adding intelligence to that data and delivering analytical solutions. It maintains connectivity with more than 70 credit bureaus around the world and, with offices worldwide, is uniquely qualified to support local, national, regional and global businesses. 2 - Experian s UK Credit Bureau Scores - Version 1.6

3 Content 1. Introduction Consumer bureau scores Commercial bureau scores 4 2. Consumer bureau scores for prospect targeting Delphi for Mailings Score Geo Delphi Index Geo Detect Index 6 3. Consumer bureau scores for account origination Delphi for New Business Consumer Indebtedness Index (CII) Income Estimation & Verification New Business Affordability Metrics Identity Authentication Scores Detect Fraud Score And Credit Score Suspicious Activity Scores The CIFAS Score & Index Consumer bureau scores for customer management Delphi for Customer Management Propensity scores for Up-Sell, Cross-Sell And Retention Consumer bureau scores for collections & debt recovery Delphi for Collections Delphi for Debt Recovery Other consumer credit bureau scores Credit Expert Score Director s Delphi Score UK Delphi Commercial bureau scores Commercial Delphi Scores Glossary 17 Experian s UK Credit Bureau Scores - Version 1.6-3

4 1. Introduction 1.1 Consumer Bureau Scores Experian s consumer bureau scores are used throughout the UK credit industry to aid decision-making in every area of consumer credit activity: PROSPECT TARGETING ACCOUNT ORIGINATION CUSTOMER MANAGEMENT COLLECTIONS & RECOVERIES Experian credit bureau scores can be used for assessing all the following key consumer metrics: Creditworthiness Indebtedness & Affordability Propensity to commit fraud Risk of attrition Level of identity authentication Propensity to pay in Collections & likelihood of Debt Recovery 1.2 Commercial Bureau Scores Experian s commercial bureau scores are used to provide credit ratings and risk-related credit limits for over 90% of the commercial enterprises in the UK. 4 - Experian s UK Credit Bureau Scores - Version 1.6

5 2. Consumer Bureau Scores for Prospect Targeting 2.1 Delphi for Mailings Score The Delphi for Mailings (DfM) score is a pre-screening tool that enables high risk (i.e. low scoring) individuals to be identified and excluded from the marketing of new products and services to potential new customers. Three different versions of DfM gen. 9 exist as follows: Score with BDS* indicators for CAIS members Score without BDS* indicators for CAIS members Score for Non-CAIS members * Behavioural Data Sharing (on credit card accounts in CAIS) The DfM scores are designed to identify high risk individuals using all the personal credit bureau data allowed by the Principles of Reciprocity, plus a comprehensive set of geo-demographic variables, including Geo Delphi (see below). 2.2 Geo Delphi Index The Geo Delphi Index is a score-based measure of an individual s creditworthiness based on the area in which they live. The following Geo-Delphi Index values are generally used:- 0 Level of credit risk unknown 1 Very low level of credit risk (bad rate around 2%) 9 Very high level of credit risk (bad rate around 50%) The Geo Delphi score incorporates a wide range of risk-related geo-demographics - calculated at both postcode and postal sector levels. To ensure that the Geo Delphi Index cannot be used for red lining, it can only be used within scorecards consisting of multiple characteristics. Three different versions of the Geo Delphi Index exist based on the level of CAIS data used to develop them:- Non-CAIS version - used in DfM for Non-CAIS members Default-only CAIS version - used in the DfM scorecards available to all CAIS members Full CAIS version - used as a component of the Delphi scorecards used for Account Origination and Customer Management by full CAIS members (see section 3 and 4). Experian s UK Credit Bureau Scores - Version 1.6-5

6 2. Consumer Bureau Scores for Prospect Targeting 2.3 Geo Detect Index The Geo Detect Index is a score-based measure of the likelihood of an application for credit being fraudulent based on the area that it originates from. The index has the following values:- 0 Level of fraudulent activity unknown 1 Very low level of fraudulent activity (fraud rate less than 0.1%) 9 Very high level of fraudulent activity (fraud rate 5%+) Different versions of the Geo-Detect Index exist depending on each user s membership of CIFAS, National Hunter and CAIS. The Geo Detect Index is a recent DA development and is to be used both as a Prospect Targeting tool and for application fraud detection. Experian s UK Credit Bureau Scores - Version 1.6-6

7 3. Consumer Bureau Scores for Account Origination 3.1 Delphi for New Business Delphi for New Business is a suite of generic credit scorecards that is used in consumer account origination to assess the credit risk of potential new customers. The Delphi for New Business scores are used by over 150 major UK financial organisations, generating in excess of 70 million bureau scores each year. There are 7 main Market Sector based versions of Delphi for New Business, as follows: Banking & Finance Retail Non-prime financial services Telecommunications Utilities Insurance Pay Day Loans The Delphi for New Business scores are developed to identify high risk individuals based on the following types of credit bureau data: Same Person data (i.e. information on the individual applying for credit) Same Person Associate data (i.e. information on individuals with a financial association with the person applying for credit) The Consumer Indebtedness Index (CII) - see below The Geo Delphi Index (ref 2.2) In response to user feedback, versions of the Delphi for New Business scorecards now exist with and without the CII. 3.2 Consumer Indebtedness Index (CII) The CII is a score-based index developed to identify consumers that are showing no current payment difficulties, but that are likely to experience payment problems in the near future because of their level (and type) of credit commitments. The latest version (Generation 3) of the CII has the following values:- -3 No credit activity to date -2 No current activity but previous derogs. found -1 Individual not found 1 Very low level of indebtedness 90 Very high level of indebtedness The CII was the first consumer indebtedness metric ever developed and is now used by over 90% of the UK s major consumer credit providers. Experian s UK Credit Bureau Scores - Version 1.6-7

8 3. Consumer Bureau Scores for Account Origination 3.3 Income Estimation & Verification Income estimates are generated from a number of different Experian data sources for main applicant, joint applicant and family economic unit. Current Account Turnover (CATO) Current Account Turnover. Lenders provide details of current account turnover as part of a data sharing agreement hosted by Experian. Previous Application Demographics including Gross Annual Income are captured on previous applications primarily for fraud prevention purposes. This information is cleansed, segmented and summarised to provide income estimates for main and joint applicants. Credit Bureau Data A suite of models have been developed that use credit bureau data to estimate income. Models leverage all available data to generate estimates for the family economic unit income. Preferred Income Estimate The income estimates above are summarised into a single value. Using the Income Estimates for Income Verification By comparing an applicant s declared income against income estimates it is possible to verify income as part of the application process. The Income Verification Index is designed to measure the accuracy of supplied income, and has the following values:- -3 No data to verify income -2 Insufficient data to verify income -1 Individual not found 0 Applicant income is significantly over stated 90 Applicant income verifies 99 Applicant income understated An Income Verification Index is returned for main applicant, joint applicant and family economic unit. Experian s UK Credit Bureau Scores - Version 1.6-8

9 3. Consumer Bureau Scores for Account Origination 3.4 New Business Affordability Metrics While not being credit bureau scores as such, Experian s Consumer Affordability Metrics are heavily based on Experian s consumer bureau data. They have been developed specifically to facilitate the assessment of a consumer s affordability whenever they apply for credit, by providing the following key measure: Effective Disposable Income (EDI) - this is based on Net Monthly Income (from an application form) less Monthly Outgoings. The Monthly Outgoings calculation combines Monthly Credit Commitments (based on the active account information held on Experian s credit bureau), Monthly Expenditure (estimated based on the latest ONS survey data) and Monthly Mortgage/Rent. Experian s Affordability Metrics were designed to be used as an integral part of the Account Origination process, to provide an automated affordability check, along the following lines: Apply primary credit decision criteria (i.e. policy decline and cut-off score rules). Decline cases with very low affordability (i.e. a very low EDI). Apply refer rules for identity authentication and fraud detection. Apply other (credit) refer rules - but only to cases with low to moderate affordability. Accept all other cases 3.5 Identity Authentication Scores Experian s Identity Authentication scores have been developed for: ID Validation - this score uses a set of credit bureau data-based proofs to provide a measure of confidence that the supplied name actually exists at the supplied address. ID Verification - this score compares the personal details supplied on an application form (date of birth, telephone number etc) with those held on the credit bureau to provide a measure of confidence that the individual being authenticated is actually who they say they are. The ID Validation and Verification scores are then combined - along with a set of high risk policy rules - to produce an Authentication Index in the range 00 (high risk of Id fraud) to 90 (effectively no risk of ID fraud). The Authentication Index is used throughout the UK Financial Services industry whenever an electronic, real-time identity check is required. It has proved to be particularly useful in achieving compliance with the UK s anti-money laundering regulations. Experian s UK Credit Bureau Scores - Version 1.6-9

10 3. Consumer Bureau Scores for Account Origination 3.6 Detect Fraud Score and Credit Score These scores are embedded within Detect - Experian s on-line fraud prevention system. Detect works by cross-checking information supplied on an application form with the information held on the Experian credit bureau. Any inconsistencies found are highlighted via a set of Detect Policy Rules, which are then used to identify suspicious cases for further investigation. In order to enhance Detect s ability to find frauds, two scoring models are used, as follows: The Detect Fraud Score - this uses a combination of the Detect Policy Rules, application form data and bureau data to identify cases that are highly likely to be fraudulent. The Detect Credit Score - this uses bureau data at disclosed and undisclosed addresses to identify applicants that are a high credit risk. Two versions of the Detect Credit score exist - one for full CAIS members and one for Defaultonly CAIS members. 3.7 Suspicious Activity Scores Experian s Suspicious Activity (SA) scores use all the available credit bureau data at address level to highlight addresses that have suspiciously high levels of credit activity, and which are highly likely to be fraudulent as a result. Based on the SA score, a directory of the addresses with the highest likelihood of fraud is produced quarterly, and this can be matched to the addresses supplied on new applications for credit to help prevent further fraudulent credit activity taking place. National Hunter is used to investigate any suspicious addresses to decide whether or not the activity at these high risk addresses is actually fraudulent. The SA score-based address directory is also planned to be used in Customer Management to highlight existing customers with suspicious activity. Experian s UK Credit Bureau Scores - Version

11 3. Consumer Bureau Scores for Account Origination 3.8 CIFAS Score & Index Experian s CIFAS score brings together all the known fraud (i.e. CIFAS) data for a given individual and incorporates this into a single measure - Experian s CIFAS Index. The CIFAS score uses recency and frequency of known fraud data found at current, previous and undisclosed addresses, matched at three possible levels i.e. Same Person, Same Person Associate and Other. The CIFAS Index has been calibrated to have values in the following range: 0 No CIFAS match 1 Very low risk of fraudulent activity (fraud rate around 5%) 9 Very high risk of fraudulent activity (fraud rate over 50%) 97 Victim of Fraud registered 98 Protected Registration 99 Victim of Fraud & Protected Registration The CIFAS Index can be used by all CIFAS members to decide whether or not to refer credit applications whenever a CIFAS match is triggered. Experian s UK Credit Bureau Scores - Version

12 4. Consumer Bureau Scores for Customer Management 4.1 Delphi for Customer Management Delphi for Customer Management (DCM) is a suite of generic behavioural bureau scorecards that can be used in all areas of credit account management to provide a holistic view of each consumer s overall level of risk and indebtedness. For example, DCM scores are used extensively for: Credit Card limit management; Up-selling and cross-selling of additional credit facilities; Managing accounts in Collections; Predicting likelihood of default. The DCM scores are used throughout the UK consumer credit industry, with over 1 billion scores being generated every year. There are currently two types of DCM score covering a number of market sectors, as follows: Score for Arrears & Account Management (AAM) in the Banking & Finance Sector Score for Credit Risk Screening (CRS) in the Banking & Finance Sector Score for AAM in the Retail & Other Sectors Score for CRS in the Retail & Other Sectors Score for AAM in the Telecoms. Sector The DCM scores are developed to identify high risk individuals based on the following types of credit bureau data:- Same Person data Same Person Associate data The Consumer Indebtedness Index (ref. Section 3.2) The Geo Delphi Index (ref. Section 2.2) Experian s UK Credit Bureau Scores - Version

13 4. Consumer Bureau Scores for Customer Management 4.2 Propensity Scores for Up-sell, Cross-sell and Retention These bureau based propensity scores asses an individual s appetite for varying forms of credit over the next 6 months. Used in conjunction with risk screening scores they enable lenders to optimise response / conversion rates on cross-sell / up-sell campaigns to existing customers. In addition to identifying cross-selling opportunities the scores can also be used to identify attrition risks. These scores differ from traditional marketing propensities by using consumer level bureau data to provide a more accurate & complete view of consumer behaviour. Scores exist for the following objectives Propensity to significantly increase credit card spending Propensity to successfully open a new credit card account Propensity to successfully open a new personal loan account Propensity to successfully open a new motor finance loan account Propensity to re-mortgage or take out a mortgage extension Scores are only for use in marketing / retention campaigns to existing customers. Experian s UK Credit Bureau Scores - Version

14 5. Consumer Bureau Scores for Collections & Debt Recovery 5.1 Delphi for Collections Experian s generic collections scores assess the likelihood of an account in arrears making a payment within the next 3 months. Four versions of the Delphi for Collections (DfC) scores have been developed for:- Mortgage accounts Other Banking & Finance accounts Retail accounts Telecommunications accounts The DfC scores incorporate all the following consumer-level information:- Full CAIS level credit bureau data, including the Consumer Indebtedness Index The Geo Delphi Index Account level data (e.g. balance and arrears status) 5.2 Delphi for Debt Recovery Experian s generic Debt Recovery scores have been developed to assess the likelihood that non-paying accounts in default will respond to further Debt Recovery action. Two versions of the Delphi for DR score are available, based on level of CAIS membership:- Full CAIS members - applies to lenders that want to assess the likelihood of debt recovery on their own non-paying accounts in default. Default-only CAIS members - applies to Debt Collection Agencies that want to assess the likelihood of debt recovery on their dormant debt. Experian s UK Credit Bureau Scores - Version

15 6. Other Consumer Credit Bureau Scores 6.1 Credit Expert Score This is a direct-to-consumer credit bureau score that is effectively a generalpurpose Delphi for New Business Score (ref. Section 3.1). It was developed to provide Credit Expert subscribers with a view of how mainstream UK credit providers would assess their level of risk, based on their credit bureau data alone. 6.2 Director s Delphi Score The Director s Delphi score provides a view of how a director s/proprietor s consumer credit track record is likely to affect the performance of their (small) business. It is used for SMEs as a component of their Commercial Delphi score. Commercial Delphi uses Experian s Business Information databases (and the Director s Delphi score for SMEs) to assess the likelihood that a commercial enterprise will fail within the next 12 months - ref. Section UK Delphi The UK Delphi score is a general-purpose credit bureau score that can be used to assess the credit risk of any consumer in the UK. Its main use is in comparing the credit risk profiles of competing consumer credit portfolios within Experian s Industry Benchmarking reporting systems. Experian s UK Credit Bureau Scores - Version

16 7. Commercial Bureau Scores 7.1 Commercial Delphi Scores Commercial Delphi (CD) is a suite of generic bureau scores designed to predict business failure. The CD scores are used to provide credit ratings and - together with business turnover/size - commercial credit limits for over 90% of UK businesses. These credit ratings and limits are then used in the credit risk assessment of commercial enterprises in many different areas. For example: Commercial prospect targeting; Providing trade credit to both new and existing customers; Assessing applications for equipment (and other) leasing; Setting Credit Insurance premiums; On-going management of commercial credit lines. There are 2 main versions of Commercial Delphi, based on legal form, as follows: CD for Limited Companies CD for Non-limited Businesses Within each main version of CD, further scorecard segmentation is applied based on age and size of business. CD Scores blend data from a number of sources whose availability depends on company age, legal form, and CAIS membership. These include: Company financials; Public data, such as court judgements and bankruptcies; Payment data - for trade credit and instalment credit (Commercial CAIS); Previous credit bureau searches; Director s/proprietor s consumer credit bureau track record (ref. section 6.2); Director s/proprietor s track record with other businesses; Shareholding and group data. Experian s UK Credit Bureau Scores - Version

17 8. Glossary CAIS - The Credit Account Information Sharing scheme that is hosted by Experian in the UK CATO - Current Account Turnover. Lenders provide details of current account turnover as part of a data sharing scheme hosted by Experian in the UK. CIFAS - The UK s Fraud Prevention Agency, which facilitates the sharing of information on known frauds. ONS - Office for National Statistics Principles of - The UK Credit Industry s code of practice for the Reciprocity use of all shared credit bureau data National Hunter - An independent not-for-profit company primarily concerned with the prevention of application fraud within the banking, finance and insurance industry; and to protect victims of fraud. Their main role is to ensure that members share fraud data fairly accurately and effectively. SME - Small and Medium Enterprises CAIS - The Credit Account Information Sharing (CAIS) file holds information on over 440 million credit accounts 32 million of which are in default. CAIS files are held on the vast majority of the active credit population with an average of five records held per applicant. Information is provided by virtually every major consumer lending organisation in the UK. Established in 1983 to provide comprehensive and timely credit information, CAIS was the first system of its kind and is now by far the largest source of information about consumers credit histories in the UK. Experian operates CAIS on behalf of its members. The members who manage the scheme make the rules governing how CAIS operates. Experian s UK Credit Bureau Scores - Version

18 Experian Landmark House Experian Way NG2 Business Park Nottingham NG1 1EP Experian Limited The word EXPERIAN and the graphical device are trade marks of Experian and/or its associated companies and may be registered in the EU, USA and other countries. The graphical device is a registered Community design in the EU. All rights reserved.

Acquiring customers profitably. With Credit Bureau Scores

Acquiring customers profitably. With Credit Bureau Scores Acquiring customers profitably With Credit Bureau Scores Uncover the true face of new customers before it s too late In the current climate, characterized by tough competition and economic slowdowns, identifying

More information

Data Modeling & Bureau Scoring Experian for CreditChex

Data Modeling & Bureau Scoring Experian for CreditChex Data Modeling & Bureau Scoring Experian for CreditChex Karachi Nov. 29 th 2007 Experian Decision Analytics Credit Services Help clients with data and services to make business critical decisions in credit

More information

Data Products and Services. The one-stop-shop for all your business-to-consumer data requirements

Data Products and Services. The one-stop-shop for all your business-to-consumer data requirements Data Products and Services The one-stop-shop for all your business-to-consumer data requirements Put data and insight back at the heart of your marketing Knowing who to target, when, via what channel and

More information

Experian Public Sector

Experian Public Sector Experian Public Sector Making effective use of data to aid collection 30 th June 2009 Experian Limited 2009. All rights reserved. Experian and the marks used herein are service marks or registered trademarks

More information

Balance collections with retention for each customer. Decision Analytics for debt management in retail banking

Balance collections with retention for each customer. Decision Analytics for debt management in retail banking Balance collections with retention for each customer Decision Analytics for debt management in retail banking Debt management for retail banking In the highly competitive retail banking environment, banks

More information

Fraudulent accounts in collections: improve detection and reduce collector workload. An Experian briefing paper

Fraudulent accounts in collections: improve detection and reduce collector workload. An Experian briefing paper Fraudulent accounts in collections: improve detection and reduce collector workload An Experian briefing paper September 2010 1. The inter-relationship of fraud and collections The fraud and collections

More information

PWN Mortgages Ltd appointed representative of Pink Home Loans. Pink Home Loans is a trading style of Advance Mortgage Funding Ltd

PWN Mortgages Ltd appointed representative of Pink Home Loans. Pink Home Loans is a trading style of Advance Mortgage Funding Ltd PWN Mortgages Ltd appointed representative of Pink Home Loans. Pink Home Loans is a trading style of Advance Mortgage Funding Ltd DECLARATION All the details on this form are true and not misleading. I

More information

Best Practice Guide to Information Quality in the Consumer Collection Environment. A Decision Analytics briefing paper from Experian

Best Practice Guide to Information Quality in the Consumer Collection Environment. A Decision Analytics briefing paper from Experian Best Practice Guide to Information Quality in the Consumer Collection Environment A Decision Analytics briefing paper from Experian February 2009 Introduction To run an effective collection operation there

More information

Origination for unsecured lending. Daniel Tilley, Global Business Consulting. An Experian Decision Analytics White Paper

Origination for unsecured lending. Daniel Tilley, Global Business Consulting. An Experian Decision Analytics White Paper Origination for unsecured lending Daniel Tilley, Global Business Consulting An Experian Decision Analytics White Paper Executive Summary In today s unsecured lending marketplace customer expectations

More information

What information does a credit reference agency hold?

What information does a credit reference agency hold? Credit problems and credit reference agencies The Information Commissioner regularly receives queries from people who have had problems obtaining credit. Such problems may arise when attempting to borrow

More information

Debt collection in lean times. An Experian briefing paper

Debt collection in lean times. An Experian briefing paper Debt collection in lean times An Experian briefing paper Contents Introduction Page 4 DCA sector analysis Page 5 DCA sector challenges Page 7 Adapting to survive and thrive Page 10 2 - Debt collection

More information

SCORES OVERVIEW. TransUnion Scores

SCORES OVERVIEW. TransUnion Scores S OVERVIEW Scores 1 Table of Contents CreditVision Scores CreditVision Account Management Score.... 2 CreditVision Auto Score....3 CreditVision Bankruptcy Score....3 CreditVision HELOC Score....4 CreditVision

More information

Exploiting the Single Customer View to maximise the value of customer relationships

Exploiting the Single Customer View to maximise the value of customer relationships Exploiting the Single Customer View to maximise the value of customer relationships October 2011 Contents 1. Executive summary 2. Introduction 3. What is a single customer view? 4. Obstacles to achieving

More information

Using Your Personal Information

Using Your Personal Information Important Using Your Personal Information A guide to help you understand how the personal information we hold about you may be used by Virgin Money and other organisations such as Credit Reference and

More information

Application Fraud Detection Models

Application Fraud Detection Models Application Fraud Detection Models Adrian.Paine@uk.experian.com Credit Scoring and Credit Control X, Edinburgh 2007 Hunter Overview Hunter Product that identifies applications with a high risk of fraud

More information

YOUR CREDIT DECISION EXPLAINED. www.fla.org.uk

YOUR CREDIT DECISION EXPLAINED. www.fla.org.uk YOUR CREDIT DECISION EXPLAINED www.fla.org.uk YOUR CREDIT DECISION EXPLAINED Assessing applications for credit Credit scoring is used because lenders want to make sure you do not borrow more than you can

More information

Using Your Personal Information

Using Your Personal Information Important Using Your Personal Information A guide to how your personal information may be used by the Virgin Money Group and other organisations such as Credit Reference and Fraud Prevention Agencies.

More information

Scorto Solution for Credit Bureaus Scorto Bureau Nucleus

Scorto Solution for Credit Bureaus Scorto Bureau Nucleus Scorto Solution for Credit Bureaus Scorto Bureau Nucleus Scorto Bureau Nucleus offers credit reference services and other functions and services associated with credit bureaus. This service retrieves and

More information

Optimising real-time marketing. An Experian white paper

Optimising real-time marketing. An Experian white paper Optimising real-time marketing An Experian white paper January 2009 Executive Summary In an age where direct marketing effectiveness is declining, organisations are increasingly using marketing when customers

More information

Consumer Lending - implications of new comprehensive credit reporting

Consumer Lending - implications of new comprehensive credit reporting Australia is about to introduce a new form of consumer credit reporting which will bring it into line with most OECD countries. There have been many studies presented about the benefits of Comprehensive

More information

Exploiting the Single Customer View to Maximise the Value of Customer Relationships

Exploiting the Single Customer View to Maximise the Value of Customer Relationships Exploiting the Single Customer View to Maximise the Value of Customer Relationships An Experian briefing paper focusing on consumer financial services Contents Executive summary... pg 2 Introduction...

More information

An effective approach to preventing application fraud. Experian Fraud Analytics

An effective approach to preventing application fraud. Experian Fraud Analytics An effective approach to preventing application fraud Experian Fraud Analytics The growing threat of application fraud Fraud attacks are increasing across the world Application fraud is a rapidly growing

More information

Chapter 3: Scorecard Development Process, Stage 1: Preliminaries and Planning.

Chapter 3: Scorecard Development Process, Stage 1: Preliminaries and Planning. Contents Acknowledgments. Chapter 1: Introduction. Scorecards: General Overview. Chapter 2: Scorecard Development: The People and the Process. Scorecard Development Roles. Intelligent Scorecard Development.

More information

Nigel Rusby & Stephen Gildert, Global Consulting Team

Nigel Rusby & Stephen Gildert, Global Consulting Team Origination for SME Lending - Management of high volume, low ticket value lending Nigel Rusby & Stephen Gildert, Global Consulting Team An Experian Decision Analytics White Paper Executive Summary A major

More information

Important Data Protection

Important Data Protection Important Data Protection A Guide to the use of your personal and business data by [name of organisation] and Credit Reference and Fraud Prevention Agencies commercial v 11.00 final 050810 Q: What is a

More information

Decision Solutions Consulting Group. Leading Solutions for Leading Enterprises

Decision Solutions Consulting Group. Leading Solutions for Leading Enterprises Decision Solutions Consulting Group Leading Solutions for Leading Enterprises The Big Picture Enterprises today face a number of challenges Issues Amid the growing complexity of consumer behaviour, economic

More information

A strategic approach to fraud

A strategic approach to fraud A strategic approach to fraud A continuous cycle of fraud risk management The risk of fraud is rising at an unprecedented rate. Today s tough economic climate is driving a surge in first party fraud for

More information

Data sharing for Fraud Prevention in Medical Insurance

Data sharing for Fraud Prevention in Medical Insurance Data sharing for Fraud Prevention in Medical Insurance Nick Mothershaw, Director Identity and Fraud Experian Limited 2008. All rights reserved. Experian and the marks used herein are service marks or registered

More information

The Value of Negative Credit Bureau Alerts to Credit Card Issuers

The Value of Negative Credit Bureau Alerts to Credit Card Issuers The Value of Negative Credit Bureau Alerts to Credit Card Issuers Authors: Chris Slater & Nick Gudde Release Date: October 2012 About The International Risk Partnership The International Risk Partnership

More information

Business Information Services. Product overview

Business Information Services. Product overview Business Information Services Product overview Capabilities Quality data with an approach you can count on every step of the way Gain the distinctive edge you need to make better decisions throughout the

More information

Decisioning for Telecom Customer Intimacy. Experian Telecom Analytics

Decisioning for Telecom Customer Intimacy. Experian Telecom Analytics Decisioning for Telecom Customer Intimacy Experian Telecom Analytics Turning disruption into opportunity The traditional telecom business model is being disrupted by a variety of pressures from heightened

More information

Automotive Services. Tools for dealers, lenders and industry service providers that drive profitable results in today s economy

Automotive Services. Tools for dealers, lenders and industry service providers that drive profitable results in today s economy CONSUMER INFORMATION SOLUTIONS Automotive Services Tools for dealers, lenders and industry service providers that drive profitable results in today s economy Reach the right prospects Automotive solutions

More information

What is a Credit Bureau - or rather, what should it be?

What is a Credit Bureau - or rather, what should it be? What is a Credit Bureau - or rather, what should it be? December 2012 2012 Experian Limited. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian

More information

CREDIT CARD APPLICATION

CREDIT CARD APPLICATION 1. CREDIT CARD REQUEST DETAILS New application: Requested increase: I would like a McGrath Pink Visa Card: Limit increase: Balance transfer: Total limit requested: 2. APPLICANT DETAILS Membership number:

More information

Decisioning for Telecom Customer Intimacy. Experian Telecom Analytics

Decisioning for Telecom Customer Intimacy. Experian Telecom Analytics Decisioning for Telecom Customer Intimacy Experian Telecom Analytics Turning disruption into opportunity The traditional telecom business model is being disrupted by a variety of pressures. From heightened

More information

D&B integrate the data into our database through our patented Entity Matching, which produces a single accurate picture of each business.

D&B integrate the data into our database through our patented Entity Matching, which produces a single accurate picture of each business. D&B Rating Guide D&B Risk Assessment Explained - Decide with confidence Understanding and minimising risk is fundamental to your organisation. Staying informed of any changes is the only way to grow your

More information

CREDIT BUREAUS AND FINANCIAL CO-OPERATIVES: TIME TO JOIN THE BANDWAGON?

CREDIT BUREAUS AND FINANCIAL CO-OPERATIVES: TIME TO JOIN THE BANDWAGON? CREDIT BUREAUS AND FINANCIAL CO-OPERATIVES: TIME TO JOIN THE BANDWAGON? Agenda Introduction Role of credit bureaus Definition of a credit bureau Solving the challenge of asymmetric information Contributors

More information

YOUR APPLICATION AND CREDIT REFERENCING

YOUR APPLICATION AND CREDIT REFERENCING FACT SHEET YOUR APPLICATION AND CREDIT REFERENCING How we decide whether or not to accept an application to open an account When we receive your/your organisation s application, we ll look at the information

More information

A Guide to the use of your personal and business data by PACCAR Financial PLC and Credit Reference and Fraud

A Guide to the use of your personal and business data by PACCAR Financial PLC and Credit Reference and Fraud Important Data Protection A Guide to the use of your personal and business data by PACCAR Financial PLC and Credit Reference and Fraud Prevention Agencies commercial v 11.00 final June 2009 Q: What is

More information

Expert insight and solutions for the Utilities market

Expert insight and solutions for the Utilities market Expert insight and solutions for the Utilities market Equifax helps water and energy providers make better informed decisions at every stage of the customer relationship. We understand the many challenges

More information

Privacy Policy Statement

Privacy Policy Statement Privacy Policy Statement Our Commitment While information is the foundation for providing you with superior service, protecting the privacy of your personal information is of the highest importance to

More information

Understanding Credit Bureaus and How to Build a Good Credit Record

Understanding Credit Bureaus and How to Build a Good Credit Record Understanding Credit Bureaus and How to Build a Good Credit Record Presented By: Megan Deane Chief Executive Officer Creditinfo Jamaica Limited The Credit Reporting Act (CRA) 2010 was passed in August

More information

Data Quality - business cases for Financial Institutions. Sava Vladov, VP Business Development, Adastra BG

Data Quality - business cases for Financial Institutions. Sava Vladov, VP Business Development, Adastra BG - business cases for Financial Institutions Sava Vladov, VP Business Development, Adastra BG 15 April 2014 What is this presentation about? Adastra earned A Russian bank 5M EUR due to smart x-selling and

More information

Preventing identity theft

Preventing identity theft Preventing identity theft About ENISA The European Network and Information Security Agency (ENISA) is an EU agency created to advance the functioning of the internal market. ENISA is a centre of excellence

More information

WHITEPAPER. Complying with the Red Flag Rules and FACT Act Address Discrepancy Rules

WHITEPAPER. Complying with the Red Flag Rules and FACT Act Address Discrepancy Rules WHITEPAPER Complying with the Red Flag Rules and FACT Act Address Discrepancy Rules May 2008 2 Table of Contents Introduction 3 ID Analytics for Compliance and the Red Flag Rules 4 Comparison with Alternative

More information

The Rental Exchange. Get recognised for paying your rent on time. A world of insight

The Rental Exchange. Get recognised for paying your rent on time. A world of insight The Rental Exchange Get recognised for paying your rent on time A world of insight We believe that you should get credit for paying your rent on time. That s why your landlord has joined the Rental Exchange

More information

The Impact of Sarbanes-Oxley on the Collections Process. A Decision Analytics briefing paper from Experian

The Impact of Sarbanes-Oxley on the Collections Process. A Decision Analytics briefing paper from Experian The Impact of Sarbanes-Oxley on the Collections Process A Decision Analytics briefing paper from Experian February 2007 Introduction This briefing paper reviews how the use of an automated debt management

More information

New Predictive Analytics for Measuring Consumer Capacity for Incremental Credit

New Predictive Analytics for Measuring Consumer Capacity for Incremental Credit white paper New Predictive Analytics for Measuring Consumer Capacity for Incremental Credit July 29»» Executive Summary More clearly understanding a consumer s capacity to safely take on the incremental

More information

All About Credit Reports from A to Z

All About Credit Reports from A to Z All About Credit Reports from A to Z Adverse Action Notice A notice that you have been denied credit, employment, insurance, or other benefits based on information in a credit report. The notice should

More information

Cazenove UK Companies Conference. Paul Brooks, Chief Financial Officer 18 April 2008

Cazenove UK Companies Conference. Paul Brooks, Chief Financial Officer 18 April 2008 Cazenove UK Companies Conference Paul Brooks, Chief Financial Officer 18 April 2008 Overview Agenda Overview Strategic objectives Financial track record Summary 2 Overview Our vision For our people, data

More information

Understanding Your Credit Score

Understanding Your Credit Score Understanding Your Credit Score What is a credit rating? A credit rating is used by businesses to work out how risky it is for them to lend you money. It s a way of predicting your future behaviour with

More information

Understanding Your MyVedaScore Rating. An overview of what your VedaScore Rating means to you

Understanding Your MyVedaScore Rating. An overview of what your VedaScore Rating means to you Understanding Your MyVedaScore Rating An overview of what your VedaScore Rating means to you April 2012 Contents What is a VedaScore Rating?...2 On its own, does my VedaScore Rating determine whether I

More information

Important Data Protection. A guide to the use of your personal data by The Co-operative Bank and credit reference agencies

Important Data Protection. A guide to the use of your personal data by The Co-operative Bank and credit reference agencies Important Data Protection A guide to the use of your personal data by The Co-operative Bank and credit reference agencies Q: What is a credit reference agency? A: Credit reference agencies (CRAs) collect

More information

Global Market Update No. 6. Current & Future Trends: The Comprehensive Reporting Issue

Global Market Update No. 6. Current & Future Trends: The Comprehensive Reporting Issue Global Market Update No. 6 Current & Future Trends: The Comprehensive Reporting Issue Welcome to the 6th edition of the Experian Decision Analytics Global Market Update series. After a long and winding

More information

APPLICATION FORM COMPANY

APPLICATION FORM COMPANY COMPANY DETAILS Company's name APPLICATION FORM COMPANY Registered address Company's registered number Nature of business Trading address (if different from above) Date of Incorporation Date last accounts

More information

Your name: Name of your business: Your business address:

Your name: Name of your business: Your business address: For mortgage intermediary use only please complete IN FULL Your NBS introducer code: Your name: Name of your business: Commercial mortgage application for a Company Please fill in every answer using block

More information

Thank you for sending us your credit file. We have now completed our initial review and the details are summarised below.

Thank you for sending us your credit file. We have now completed our initial review and the details are summarised below. Credit File Review Your Name: Mrs Laura Williams Your Reference Number: CR-01234 Credit Reference Agency: Experian Date Review Conducted: 27/01/2015 Thank you for sending us your credit file. We have now

More information

A Data Protection Guide

A Data Protection Guide A Data Protection Guide Your personal data and how it may be used by Erudio Student Loans Limited, Credit Reference Agencies and Fraud Prevention Agencies FPN_A02 Page 1 of 5 What is a credit reference

More information

Battling for Balances: Targeting the Lucrative Card-to-Card Consumer Balance-Transfer Market. An Experian Perspective

Battling for Balances: Targeting the Lucrative Card-to-Card Consumer Balance-Transfer Market. An Experian Perspective Battling for Balances: Targeting the Lucrative Card-to-Card Consumer Balance-Transfer Market An Experian Perspective The Perfect Storm After several years of turbulence and uncertainty, the playing field

More information

BusinessIQ Premier Profile

BusinessIQ Premier Profile BusinessIQ SM Premier Profile Make business decisions with accuracy and speed BusinessIQ Premier Profile SM is a comprehensive business report that facilitates better decision making by supplying you with

More information

Risk, reward and the SME lending imperative. An Experian briefing paper

Risk, reward and the SME lending imperative. An Experian briefing paper Risk, reward and the SME lending imperative An Experian briefing paper October 2009 Executive summary The government is demanding that UK retail banks boost their lending to SMEs, and do so at lower interest

More information

Analysis of questionnaire responses from providers of mainstream credit products

Analysis of questionnaire responses from providers of mainstream credit products Analysis of questionnaire responses from providers of mainstream credit products This report summarizes the questionnaire responses received from providers of mainstream credit products. The objectives

More information

YOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights

YOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights YOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights WHY YOU NEED TO KNOW ABOUT CREDIT REPORTS & CREDIT SCORES Having good

More information

Solve Your Toughest Challenges with Data Mining

Solve Your Toughest Challenges with Data Mining IBM Software Business Analytics IBM SPSS Modeler Solve Your Toughest Challenges with Data Mining Use predictive intelligence to make good decisions faster Solve Your Toughest Challenges with Data Mining

More information

Loan / overdraft application

Loan / overdraft application Loan / overdraft application Loan details Loan 1 Type q Personal q Home q Mortgage Line of Credit Loan purpose This loan is predominantly for Amount required $ for a term of yrs at a rate of % p.a. Home

More information

Mortgage Services > Today s mortgage lenders are faced with. constant challenges Equifax can help. CONSUMER INFORMATION SOLUTIONS

Mortgage Services > Today s mortgage lenders are faced with. constant challenges Equifax can help. CONSUMER INFORMATION SOLUTIONS CONSUMER INFORMATION SOLUTIONS Mortgage Services > Today s mortgage lenders are faced with constant challenges Equifax can help. From quick access to tri-merge reports to independent third-party appraisals,

More information

CREDIT BUREAU SINGAPORE

CREDIT BUREAU SINGAPORE CREDIT BUREAU SINGAPORE Eliminating Asymmetries in Information Business Information Forum 24 March 2011 William Lim Executive Director What is the SME Blended Score? Business Owner Credit Data Company

More information

Harness the power of data to drive marketing ROI

Harness the power of data to drive marketing ROI Harness the power of data to drive marketing ROI I need to get better results from my marketing......and improve my return on investment. Are you directing spend where it ll have the greatest effect? MAKING

More information

B u s i n e s s O w n e r P r o f i l e

B u s i n e s s O w n e r P r o f i l e Business Owner Profile Make sound credit decisions about small-business owners Extending credit to small businesses can be risky. Don t take chances. Use Business Owner Profile from Experian and extend

More information

Driving growth in a complex, dynamic marketplace

Driving growth in a complex, dynamic marketplace Driving growth in a complex, dynamic marketplace An Experian white paper Executive summary In this paper we will explore how powerful global trends are driving higher cost pressures and complexity in the

More information

Art or Science? Modeling and Challenges in the Post-Financial Crisis Economy

Art or Science? Modeling and Challenges in the Post-Financial Crisis Economy Art or Science? Modeling and Challenges in the Post-Financial Crisis Economy Emre Sahingur, Ph.D. Chief Risk Officer for Model Risk Fannie Mae May 2015 2011 Fannie Mae. Trademarks of Fannie Mae. 2015 Fannie

More information

SME Business Lending. Application Form. www.aib.ie/business

SME Business Lending. Application Form. www.aib.ie/business SME Business Lending Application Form www.aib.ie/business Contents Part 1 Part 2 Part 3 Part 4 (i) Business Details Personal Details Application Details Data Protection Notice Part 4 (ii) Declaration Three

More information

White Paper. Real-time Credit Marketing at the Point-of-Sale. Why Real-time Prescreen-of-One Should Get a Bigger Share of Your Marketing Budget

White Paper. Real-time Credit Marketing at the Point-of-Sale. Why Real-time Prescreen-of-One Should Get a Bigger Share of Your Marketing Budget > White Paper Real-time Credit Marketing at the Point-of-Sale Why Real-time Prescreen-of-One Should Get a Bigger Share of Your Marketing Budget Andrew Skillen October 2008 Table of Contents Introduction..............................................1

More information

Important Data Protection

Important Data Protection Important Data Protection A Guide to the use of your personal and business data by the Worldpay group companies and Credit Reference and Fraud Prevention Agencies 1 Q:What is a credit reference agency?

More information

Application for Overdraft, Personal or Car loan

Application for Overdraft, Personal or Car loan Application for Overdraft, Personal or Car loan How to lodge your application: bankvic.com.au loans@bankvic.com.au 13 63 73 option 4 Reply Paid 669, BankVic PO Box 669, Carlton Sth Vic 3053 Visit a branch

More information

WHY YOUR CREDIT HISTORY MATTERS AND HOW TO IMPROVE IT.

WHY YOUR CREDIT HISTORY MATTERS AND HOW TO IMPROVE IT. WHY YOUR CREDIT HISTORY MATTERS AND HOW TO IMPROVE IT. CONTENTS. 1 WHY YOUR CREDIT HISTORY MATTERS 1 2 WHAT S CREDIT? 2 3 WHAT IS A CREDIT REPORT? 3 4 CHECKING YOUR CREDIT REPORT 4 5 IMPROVING YOUR CREDIT

More information

Marketing Optimization. An Experian white paper

Marketing Optimization. An Experian white paper Marketing Optimization An Experian white paper March 2010 Executive Summary For your organisation to thrive it is important to make the most of each customer interaction and maximise customer value. In

More information

A Decision Analytics briefing paper from Experian

A Decision Analytics briefing paper from Experian Using digital communications to competitive advantage in collections A Decision Analytics briefing paper from Experian September 2009 Introduction A key challenge facing debt collection departments is

More information

Increasing marketing campaign profitability with Predictive Analytics

Increasing marketing campaign profitability with Predictive Analytics Increasing marketing campaign profitability with Predictive Analytics Highlights: Achieve better campaign results without increasing staff or budget Enhance your CRM by creating personalized campaigns

More information

START UP LOANS PRIVACY AND DATA PROTECTION TERMS AND CONDITIONS

START UP LOANS PRIVACY AND DATA PROTECTION TERMS AND CONDITIONS START UP LOANS PRIVACY AND DATA PROTECTION TERMS AND CONDITIONS Table of Contents 1. ABOUT THIS POLICY... 3 2. WHO WE ARE AND WHO IS RESPONSIBLE FOR YOUR PERSONAL DATA... 3 3. WHERE WE COLLECT YOUR PERSONAL

More information

Your name: Name of your business: Your business address:

Your name: Name of your business: Your business address: For mortgage intermediary use only please complete IN FULL Your NBS introducer code: Your name: Name of your business: Commercial mortgage application for a Partnership Please fill in every answer using

More information

Students and young people. Credit Crossroads

Students and young people. Credit Crossroads Students and young people Credit Crossroads Experian is a leading UK credit reference agency. When you apply for credit, you will probably give the lender (the company you want credit from) permission

More information

5 Simple Steps to Maintaining a Healthy Credit Score. An Experian white paper

5 Simple Steps to Maintaining a Healthy Credit Score. An Experian white paper 5 Simple Steps to Maintaining a Healthy Credit Score An Experian white paper Introduction As a business owner you realise the importance of credit. Being at the centre point of the credit flow you need

More information

The small-business owner an in-depth B2B marketing study of owners of multiple small businesses. An Experian study

The small-business owner an in-depth B2B marketing study of owners of multiple small businesses. An Experian study The small-business owner an in-depth B2B marketing study of owners of multiple small businesses An Experian study March 2008 About this study Too often direct marketers assume that a one-size-fits-all

More information

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Lynn Brunner Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions,

More information

Guide to Credit Scoring, Credit Reference and Fraud Prevention Agencies

Guide to Credit Scoring, Credit Reference and Fraud Prevention Agencies Guide to Credit Scoring, Credit Reference and Fraud Prevention Agencies Credit scoring what is it? Assessing applications for credit As a responsible lender, we take into account your personal and/or business

More information

DATA PROTECTION (JERSEY) LAW 2005 NO CREDIT? CREDIT EXPLAINED

DATA PROTECTION (JERSEY) LAW 2005 NO CREDIT? CREDIT EXPLAINED DATA PROTECTION (JERSEY) LAW 2005 NO CREDIT? CREDIT EXPLAINED GD11 2 DATA PROTECTION (JERSEY) LAW 2005: NO CREDIT? Credit explained Contents Section 1 How do lenders decide if they will offer me credit?

More information

TABLE OF CONTENTS. Introduction: 3. Finding #1: Organizations are currently using a wide variety of contact channels to interact with customers 5

TABLE OF CONTENTS. Introduction: 3. Finding #1: Organizations are currently using a wide variety of contact channels to interact with customers 5 TABLE OF CONTENTS Introduction: 3 Finding #1: Organizations are currently using a wide variety of contact channels to interact with customers 5 Finding #2: Most organizations do not believe their current

More information

Consulco Finance. Application Form

Consulco Finance. Application Form Consulco Finance Application Form 1 INTRODUCER DETAILS Full name of Introducer FSA No. Company name Company address Telephone email Fax Network/Packager (if applicable) FSA No. 2 LOAN DETAILS Total loan

More information

Bank Wizard. Comprehensive payment data validation and verification

Bank Wizard. Comprehensive payment data validation and verification Bank Wizard Comprehensive payment data validation and verification Introduction The Bank Wizard product family enhances payment efficiency and helps reduce payment fraud with a comprehensive suite of bank

More information

Achieving Return on Investment from Modern Revenue Management and Collection Systems. A Decision Analytics briefing paper from Experian

Achieving Return on Investment from Modern Revenue Management and Collection Systems. A Decision Analytics briefing paper from Experian Achieving Return on Investment from Modern Revenue Management and Collection Systems A Decision Analytics briefing paper from Experian August 2007 Introduction In a climate of low cost operating models

More information

Strategy management systems for collections. White paper

Strategy management systems for collections. White paper Strategy management systems for collections White paper Introduction to strategy management A strategy management solution for debt collections offers the potential for significantly improving operational

More information

The nature of credit evaluation

The nature of credit evaluation Credit managers rely heavily upon external data sources to guide them in the credit decision process. To approve or reject a loan request is a delicate task. A credit manager must evaluate the risk associated

More information

BT Quick Starts for Retail Banking Customers

BT Quick Starts for Retail Banking Customers BT Quick Starts for Retail Banking Customers An overview of BT s Quick Start services The retail banking industry continues to be heavily influenced by national and international issues including tax regimes,

More information

Business Funding Evaluation YOUR BUSINESS NAME

Business Funding Evaluation YOUR BUSINESS NAME Business Funding Evaluation Prepared Exclusively For: YOUR BUSINESS NAME YOUR ADDRESS & CONTACT Prepared By: The Credit and Funding Pros Thank You For Allowing Us to Serve You! Business Funding Evaluation

More information

CONSUMER GUIDE. 15/05/2015 James Askey

CONSUMER GUIDE. 15/05/2015 James Askey CONSUMER GUIDE Document Creation Author(s) 15/05/2015 James Askey Consumer Guide 1. Overview Creditsafe s Consumer reports allow customers to access the information required to assess the likelihood of

More information

Collections and Debt Management in UK Personal Lending

Collections and Debt Management in UK Personal Lending Brochure More information from http://www.researchandmarkets.com/reports/706683/ Collections and Debt Management in UK Personal Lending Description: The current economic downturn is forcing many banks

More information

privacy and credit reporting policy.

privacy and credit reporting policy. privacy and credit reporting policy. ME, we, us or our refers to Members Equity Bank Ltd and its subsidiary ME Portfolio Management Ltd. about ME Every Australian deserves to get the most out of their

More information

THE PREDICTIVE MODELLING PROCESS

THE PREDICTIVE MODELLING PROCESS THE PREDICTIVE MODELLING PROCESS Models are used extensively in business and have an important role to play in sound decision making. This paper is intended for people who need to understand the process

More information

IDENTITY THEFT RESOURCE KIT

IDENTITY THEFT RESOURCE KIT IDENTITY THEFT RESOURCE KIT TABLE OF CONTENTS Introduction 2 What To Do Now 3 Key Agencies to Contact 3 Other Important Contacts 4 Action Taken Form 6 Sample Letters 7 How Identity Theft Can Occur 9 What

More information