Experian establishes operations in India
By siliconindia | Thursday, 29 March 2007, 05:00 Hrs
Mumbai: Information solutions company Experian has established an operation in Mumbai. This follows the successful adoption of Experians services by Indian several banks and forms part of the companys strategy to expand into emerging markets around the world. Initially, Experian will provide value-added information services and help organisations find, develop and manage customer relationships to make their businesses more profitable. These services will include systems designed to enable Indian organisations to prevent fraud, maximize revenue and minimize risk by accurate management of their customer information. As part of its comprehensive portfolio of services, Experian will provide decision analytics solutions to Indian financial services and telecommunications sectors. Experian also indicated its intention of applying for a licence to run a credit bureau in India, following publication by the RBI of its Rules & Regulations that establish the framework for sharing credit information, and issues a call for licence applications. Credit bureaux help economies and financial services sectors to grow without the risk of large-scale defaults and bad debt losses. Richard Fiddis, Managing Director, Emerging Markets Development for Experian, said: "Our 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 countrys economy and financial services sector." Mr. Stephen Denby, Managing Director, Experian Decision Analytics EMEAI (Europe, Middle East, Africa and India), commented: "The retail loans market in India has experienced an impressive average annual increase of 40 percent per year in recent years, and because 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."