Experian is one of the largest credit management companies in the world, they are most famous for leading the way in providing rapid results on credit history checks, ensuring that lenders know exactly who they are about to hand a loan over to. While Experian is based in Dublin, they have operational centres in Nottingham, Sao Paulo and in California and they employ a total of 17000 people. Their job is to compile all the data on purchases, income and outgoings on individuals so that when that individual next goes to apply for credit, they can quickly give the lender an assessment on whether they can afford it or not. ExPin is the name of the new system that Experian have developed to further assist third parties in lending.
ExPin’s focus is on the customers of Experian’s clientele. The system compiles data from Experian’s already considerably database and then delivers this information directly to the client. Each ExPin client is given a bespoke service that matches the customers that they might come into contact with, it constantly updates itself so that the information is always current and relevant to the transaction they are about to make. The quantitative assessment that ExPin will make for clients will take a lot of the hassle out of making a credit assessment themselves, and clients can have confidence in the accuracy of the results that the system provides.
Recently, as part of a multimillion pound deal, Experian have teamed up with Wescot, a debt recovery agency from Glasgow, to allow them to use the ExPin system. This move is set to rapidly speed up the process with which they can recover debts. There are a certain amount of pressures on debt recovery agencies to act within stricter guidelines as per the Financial Conduct Authority (FCA) as well as the limited funds available to most people as a result of the global financial crisis. By utilising the ExPin system, Wescot are now able to rapidly make an assessment on just how much the customers can pay by looking at how much money they spend each month.
The speed at which ExPin can now deliver results to the clients of Experian has helped to ensure the credit management company’s success in the future as well as helping thousands of clients make credit decisions across the world.
Experian is one of the world’s largest credit information databases and forms the basis of many credit checks whenever a member of the public comes to secure credit of any variety. Based in Dublin, Experian has operational headquarters in Nottingham, in California and in Sao Paulo in Brazil. From there they employ 17000 people who compile thousands of lists of data with regards to how much money individuals owe, to whom and how much more they can afford to borrow. Experian has recently developed a new system, entitled ExPin, with the objective of assisting third part companies in making the decision as to whether to lend more money or not.
ExPin works by compiling data from Experian’s already considerable database, but with a focus on only the customers of the client. The ExPin service will name all the products and services that the customer is already paying for and pass this information on to the Experian client. This information will then prove invaluable for the client, as they can learn all they need to know about a customer to form the basis of a credit decision. ExPin is constantly updated; ensuring that it stays as relevant as possible and each client can quickly access the correct information at the time of access. Clients of Experian will then benefit from greater confidence that the information they receive is as accurate as possible. ExPin will take a lot of hassle out of credit decisions by providing quantitative data for the client.
Experian are also then able to offer further services to their clients who use ExPin, as their needs will be processed by ExPin and returned to the business services team at Experian. All the while, clients will be able to remain ahead of their competitors by using the most relevant information possible.
In a recent move, Wescot Credit Services, a debt recovery agency based in Glasgow and across the UK has signed up to Experian’s ExPin service. This multi million pound decision has proved invaluable to the debt collection company, as they have been able to access information on customers quickly and assess how much they are actually able to pay back. ExPin has already improved Wescot’s debt recovery speed and this translates to stronger relations to their client base as their costs are reduced.