Our marketplace responsibilities
About Experian
Experian is a global leader in providing information solutions to businesses and consumers.
We help organisations to find new customers and to develop and manage existing relationships by providing data, decision-making solutions and processing services. We also help consumers to understand, manage and protect their personal information and to make more informed purchasing decisions.
Comprehensive databases
At the core of our business are comprehensive databases of credit and marketing information on consumers and businesses.
Innovative decision solutions
Building on this foundation of data, Experian uses proprietary analytical tools to analyse and interpret information, helping clients to turn raw data into critical decisions in a timely and consistent manner.
Broad distribution
Experian supports clients in over 60 countries and in many different markets including the financial services, retail, telecommunications, automotive and public sectors. This broad distribution platform is unmatched within the global information solutions industry.
There is also a significant (and growing) business direct to consumers. More than six million people a year purchase information directly from Experian, principally credit report products (enabling them to access and check their credit history) and automotive history information (providing confidence when they buy a used car).
Experian is therefore very much a support business, providing information and expertise to others, who then use these in their own marketplace. Nevertheless, there are a number of important legal and social issues arising from what it does.
In the first place, Experian must operate to the highest standards itself, particularly in adhering to regulatory requirements associated with data protection and privacy. The business must ensure that data is collected, stored and used properly: this area is heavily regulated, and Experian complies fully with existing laws while understanding how things are likely to change in the future. Likewise, Experian, wherever possible, ensures that clients also meet the same standards when using Experian-supplied products and data.
Responsible companies offering financial services are beginning to explore and tackle the impacts of their activity on consumers. Are they lending responsibly? Are customers getting the best products for their needs? Are they doing all they can to prevent crime? Experian’s data assets can be used to develop products and services that can have a very positive social influence on many of these areas and lead to real benefits for consumers. For example, smart software can detect fraudulent transactions helping to reduce crime, and full and accurate consumer data can help lenders obtain a fuller picture of an individual’s circumstances so that lenders can make better lending decisions to reduce the potential for over-indebtedness.