Experian 2012 Annual Report Download - page 18

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16 Experian Annual Report 2012 Business overview
Our Consumer Direct business provides
credit monitoring and other information
services directly to millions of consumers
via the internet. It enables consumers to
monitor the accuracy of their credit report,
to check their credit score and to protect
against identity theft.
Description
Experian provides consumers with secure,
online, unlimited access to their complete
credit history in return for a regular monthly
subscription fee.
In the US, CreditReport.com and
freecreditscore.com, and in the UK,
CreditExpert.co.uk, allow consumers to see
the same information available to lenders.
Typically a consumer will subscribe to
Experian when they have a major life event,
such as when obtaining a loan, and they
want to feel more confident about their
situation by looking at their credit report and
score. Or when there is a life change, such as
getting married or moving city and they need
to take a more in-depth look at their financial
situation through their credit report.
Email or text alerts keep consumers informed
about any significant changes to their credit
report. Subscribers also receive information
that helps them manage their credit
commitments.
Experian’s identity protection services in
the US and the UK, ProtectMyID.com and
ProtectMyID.co.uk, provide identity theft
detection, protection and fraud resolution to
consumers. In the event of fraud, Experian
provides access to a dedicated fraud
resolution service together with insurance
against financial loss.
In the US, Safetyweb.com helps parents
monitor their children’s online activity and
mobile usage, and Garlik.com, in the UK, US,
Germany and Italy, provides wider web and
social network monitoring to help prevent
identity fraud before it happens.
Financial characteristics
Consumer credit reports, scores and identity
protection are provided to consumers for a
monthly subscription fee.
Competitive environment
Experian’s direct-to-consumer, credit
information business is the clear market
leader in both the US and UK. In the
US, competition is provided by Equifax,
TransUnion, Fair Isaac and other smaller
specialists, but Experian is more than four
times the size of any of those competitors. In
the UK, competition is provided by Equifax
and smaller niche players.
Market influences
Consumers are becoming increasingly aware
of the need to manage and control their
financial circumstances, and protect their
identity. They are more conscious of how
personal information and credit history is
employed by lenders, and are more focused
on managing their credit relationships.
Consumers want to protect their identities
and to minimise the risk of identity theft, as
well as protecting their children while they are
on-line and using mobile devices.
Our four global business lines
Interactive 21%
Contribution to Group revenue