Experian 2007 Annual Report Download - page 6

Introduction | Business review | Governance | Financial statements
Credit Services helps
organisations to evaluate the
risks and rewards associated
with providing credit to
consumers and businesses. We
enable clients to take better
informed lending decisions and
to make it easier and quicker
for their own customers to
obtain finance.
Our credit databases hold information about the
credit status of more than 300 million consumers
and about 30 million businesses around the world.
The information is collected from publicly available
sources and from lending organisations. It is used
by our clients to confirm the identity of applicants
and to help them decide whether to provide credit
and on what terms. It also assists them in
determining what measures to take when a
customer fails to fulfil the terms of a credit
agreement or other obligation.
The collection and use of credit information,
particularly about individuals, is strictly controlled
by law. We go to great lengths to ensure that we
comply fully with the regulations that apply within
each of the countries in which Experian operates.
We also play a leading role in helping consumers
to understand how credit information is used
and how to avoid the perils of fraud
and over-indebtedness.
Our long experience of managing very large credit
databases has resulted in us becoming the host for
other types of information too. In the US and UK,
for example, we maintain information on over 600
million motor vehicles, enabling consumers, traders
and lenders to establish the true history of used
vehicles. We also support the UK insurance
industry with a database of previous insurance
claims, allowing companies to confirm instantly
the claims history of new applicants. In France,
we help organisations wanting to outsource
activities such as the processing of cheque and
debit card transactions.
Credit Services
04 | Experian Annual Report 2007