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Providing Information Tool for Financial Services

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Mohan Jayaraman,
Managing Director, Experian Credit Information
Company of India Pvt Ltd

Tell us about the work that Experian is doing in India.
Experian is a global leader in providing information, analytical tools and marketing services to organisations and consumers to help manage the risk and reward of commercial and financial decisions. We deliver real value to our customers and solve their business challenges, through our information assets, expertise and our range of products and services. We manage our own credit bureau, which collects all the financial data from all the banking systems and puts it in one centrally monitored platform. It helps us in creating services and products for all over all banking systems.

What kind of work are you doing for UIDAI?
We are trying to incorporate Aadhaar with our banking systems as quickly as possible. The banking industry will hugely benefit with the Aadhaar number. Today the most important challenge with the banks lies in customer identification; hence we are working with UIDAI in a project called Prove ID. Prove ID is an automated identity and address verification service that provides multiple ways of electronically verifying customers by accessing different databases to confirm the identity of the applicants. Prove ID will enable the banking, and other sectors in India, to accept customers faster and more efficiently than they do currently.

Tell us about the importance of credit bureau in ensuring the safety of data.
Data is a critical and strategic tool that powers business today. At Experian, we have spent over 30 years refining our expertise in interpreting data, be it a credit bureau or a client’s customer data, and leveraging it to create more valuable and profitable customer relationships for our clients. Our best-in-class analytic solutions transform data into information, enabling organisations to accurately predict applicant and customer behaviour. Experian also builds market-leading credit bureau and custom scores to facilitate superior decision-making and create true value for customers and their stakeholders.

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