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Veda Changes Its Scoring Model

Veda has confirmed to Fairfax Media that it changed its scoring model in January, meaning some people’s scores may have increased or decreased. It maintains credit reports for millions of Australians. A spokeswoman said it notified subscribers of the change at the end of last year. She said it could only notify subscribers because of constraints under privacy laws. It’s ... Read More »

Axis Bank to Sell 14 million Shares in Experian India

India’s third largest private bank Axis Bank Ltd said in a statement that it has signed an agreement to sell 14 million equity shares in Mumbai-based Experian Credit Information Co. of India Ltd for a total cash consideration of Rs64 crore.  The deal for the 10% stake was closed at a price of Rs45.7 per share. The transaction, which is ... Read More »

TransUnion Q4 2016 Revenues Up 13%

Company Announces Three-Year up to $300 Million Share Repurchase Program Total revenue was $436 million, an increase of 13 percent, both as reported and on a constant currency basis compared with the fourth quarter of 2015. Acquisitions accounted for a 3 percent increase in revenue. Net income attributable to TransUnion was $50 million compared with $19 million in the fourth ... Read More »

Experian and Lenddo Provide Financial Inclusion to Millions of Customers in Indonesia and Vietnam

Experian announced a partnership with Lenddo, a leader in non-traditional data solutions, as part of Experian’s Consumer Financial Inclusion Indexing platform in Indonesia and Vietnam. Using Experian’s global expertise and knowledge, the introduction of Lenddo’s technology into Experian’s platform will provide financial firms with more information to offer appropriate financial services. Consumers who are unbanked or underserved by major financial ... Read More »

Australia Adopts Law on Mandatory Data Breach Notification

The Privacy Amendment (Notifiable Data Breaches) Bill 2016 passed both Houses of Parliament on 13 February. Unless the Government fixes a date for commencement by Proclamation, the law will enter into force 12 months from the date the Bill receives Royal Assent.  The following is the official statement from Australian Privacy and Information Commissioner, Timothy Pilgrim: “I welcome the passage ... Read More »

Experian Included in Gartner’s 2016 Market Guide for Online Fraud Detection

Gartner Market Guide provides recommendations when seeking fraud solution vendors This year, Experian® was included as a Representative Vendor, and our recently released fraud platform, CrossCoreTM, was mentioned. The 2016 guide, authored by Jonathan Care, Avivah Litan and Tricia Phillips, points out several key fraud findings impacting businesses. They see enterprises implementing fraud hubs in order to integrate fraud detection ... Read More »

The Reserve Bank of Zimbabwe Launches Online Exchange of Information Between Banks Via Creditinfo Credit Bureau Solution

The Reserve Bank of Zimbabwe (RBZ) announced on January 1st the official launch of the system for online exchange of information between banks via Creditinfo Credit Bureau Solution. The operation is live already. Creditinfo won the international tender initiated by World Bank and now provides RBZ with the latest generation of Credit Bureau System, CB5. The credit bureau system in Zimbabwe was built from scratch in ... Read More »

Philippines: The Road Towards Financial Inclusion

CIBI Information, Inc. of the Philippines has published its Annual Report for 2016 on Financial Inclusion It is a dynamic goal, or probably even a valiant act, owning the challenge of revolutionizing the consciousness of our nation about the advantages of building a good credit history; by influencing the lending institutions in providing, what we call, responsible lending services; and ... Read More »

Creditinfo Lithuania‘S R&D Project Approved for EU Funding

Creditinfo Lithuania together with partners received an approval for more than 430 thousand euros EU funding. Funding is allocated for research and innovation activities. About a quarter of funding is set for project administration while the rest part set for implementing research and innovation. The project’s implementation period is two years. Funding is carried out under open data program and ... Read More »

Experian John Appoints DeMarco as Senior Vice President of Automotive Sales

Experian® announced the appointment of John DeMarco as senior vice president of automotive sales. In this role, he is responsible for driving growth strategies and leading responsive teams to deliver client solutions for original equipment manufacturers (OEMs) and dealerships. DeMarco brings more than 27 years of leadership in driving strategies and delivering results for highly competitive industries. DeMarco has held ... Read More »

Equifax® and Fiserv Join to Provide Income and Employment Verification Services to Auto Lenders

Equifax Inc. announced that Fiserv, a leading global provider of financial services technology solutions, has built an interface between The Work Number®, provided by Equifax Workforce Solutions and Fiserv’s Automotive Loan Origination System. Together, the solutions provide faster and more robust income and employment verifications to customers.  Refreshed each pay period, The Work Number® is the largest database of income and employment information provided directly ... Read More »

India Is Building the Infrastructure for a Truly Digital Economy and Financial Inclusion

India’s 1.1bn people now have an identity!  Financial inclusion: 270 million bank accounts opened within the last three years.  Unified Payment Inferface (UPI) allows digital payments based on the Aadhar number with biometric authentication.  Welcome to India Stack  India may have leapfrogged the US technology industry with simple and practical innovations and massive grunt work. It has built a digital infrastructure that ... Read More »

Experian India Partners with BankBazaar.com

BankBazaar.com, India’s leading financial marketplace, has announced its tie-up with credit bureau Experian to offer free credit monitoring service to customers, giving them a much better understanding of their financial footprints. Experian Credit Information Company of India Private Limited provides Credit Information Services to consumers. A general misconception is that checking your own credit score on platforms like BankBazaar will ... Read More »

KSV1870 ComplianceCheck Prevents Money Laundering

In order to prevent money laundering and terrorist financing, the financial market money laundering legislation, which entered into force on 1 January 2017, obliges the economy to carefully examine its business partners. First and foremost, credit institutions, life insurers, securities companies and investment funds are affected. Numerous other companies or industries must, on the basis of due diligence, check if there ... Read More »