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Experian’s core expertise lies in data and analysis, which enables our customers to get unique insights which lead to making informed decisions for profitable growth. We work closely with Decision Analytics 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.
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Connecting internal systems with multiple credit bureaus and other information sources providing actionable intelligence
Overview:
Around the world, lenders use multiple external data sources to enhance the credit risk assessment of an individual or company. However, standardising their risk assessment approach can often involve considerable effort. With differing data types, formats and quality, and the technical complexities of creating and maintaining data links, accessing and using external data sources effectively is always a challenge.
Connect+™ is Experian’s best-in-class information aggregation and standardising solution that helps connect a bank’s internal systems with multiple credit bureaus and other information sources to provide actionable intelligence. With Experian and two other credit bureaus now operational in India, data feeds often differ from one credit information company to another. Connect+™ makes it possible to provide data in a standard format for consideration and create a more robust customer acquisition process. Connect+™ equips local and global enterprises to access multiple credit bureaus and other data sources through a single standard system.
What Connect+™ does best:
Brings Consistency to Data: Connect+™ allows consistency and standardization of data, thereby increasing the automation of lending decisions. It maps the raw data returned from each credit information company into a common set of summary variables, which allows users to have a single view of customers, regardless of which credit information company they search.
Aggregates Detailed Information: It returns credit information company-specific data, so there is no overall loss of detailed information despite the standardisation.
Facilitates Better Decision-Making: An organisation can implement decision rules that determine the most relevant credit information company to access, every time it interacts with Connect+™. For instance, users can specify how much data should be retrieved, which secondary credit information company should be used if the primary source is not available or the data returned is not sufficient, and much more.
Delivers Flexibility: The system integrates into existing software and processes and can be installed with ease. It is flexible and scalable to meet operational needs and local market requirements.
Provides Access to Greater Breadth of Credit Information: It has built-in interfaces to Experian Credit Information Company of India and the other operational credit bureaus in India. It has built-in interfaces for more than 200 data sources, including more than 80 credit information companies across the globe.
Offers a Customised Solution: Connect+™ offers solutions that can be configured to meet specific business and market requirements regarding access, interpretation and the use of credit reference information. This customised solution can incorporate many value-added services based on specific requirements of the organisation and Indian market conditions.