Experian 2007 Annual Report Download - page 7

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3 is the UK’s leading mobile media
company, and the group has over 10
million customers worldwide. In
2003, 3 launched the first 3G
network in the UK, to support the
new generation of mobile phones.
Four years on, the company is the
market leader in 3G, providing
customers with access to an
unrivalled range of voice, video,
Internet and information services
through a single mobile device.
3’s services are sold through a network of almost 9,000
retail outlets, including their own high street shops,
Internet and many independent retailers. To support its
rapid growth, 3 needs the confidence of knowing that it
is taking on new customers who will fulfil their credit
commitments. In the competitive mobile phone market,
customers expect instant credit decisions, with immediate
access to the mobile network and to leave the shop with
a highly valuable 3G mobile phone.
Experian provides 3 with a range of services to support
its need for rapid decision-making at the point of sale.
Central to this is Experian’s credit database, which
combines publicly available information, such as the
electoral register, with detailed historical information
from lending organisations about how consumers have
fulfilled their past and current obligations. New
customers are checked against this database to confirm
their identity and, with the help of Experian’s Delphi
scoring system, to predict the likelihood of them
becoming a ‘good’ account if the application is accepted.
As with all ‘instant credit’ industries, fraud is an ever-
present danger and understanding the applicant’s
ability to pay is vital information for 3. Using
Experian’s fraud prevention tool, Detect, 3 is
able to highlight potential frauds at the
same time that the application is
processed. Detect uses an extensive
database of previous credit
applications to identify
discrepancies in new applications,
providing 3 with the information
to be able to further validate
higher risk applications.
It takes Experian, on average, less than two seconds to
confirm an applicant’s identity and to provide 3 with a
decision, based on their lending criteria.
“With over 500,000 applications for credit each year we
have to be confident in our ability to make the right
decisions, quickly”, explains Mike Elliott, Head of Credit
Risk. “Experian has become an important partner to us,
helping us to grow our business and bring new and
better services to the mobile media market.”
Case study
| 05
500,000
3 receives over 500,000
applications for credit each year