Experian launches three new products at its first Annual Conclave Jammu, 5th July, 2013 – Experian, the global information services company, hosted its first Annual India Conclave today. The theme for this year’s event was “The Next Frontier for Innovation, Competition and Productivity” and featured experienced and distinguished leaders from different industries, who shared their experiences on how they have leveraged data, insight and analytics in their respective organisations. The guest of honour at the conclave was Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India. At the conclave, Experian announced the launch of three new Decision Analytics products for India: Prove ID, Hunter Plus and Tallyman EasyStart. These products will assist banks, NBFCs and financial institutions to improve customer acquisition, prevent and detect fraud and improve cash flow and profit. Speaking at the Experian India Conclave, Mr. Richard Fiddis, MD – Strategic Markets for Experian commented: “Experian continues to deliver on its promise of introducing cutting edge services for India. The customization and intelligence offered by our products is the result of our global experience, latest technology and our competencies in data and analytics.” Prove ID is an automated identity and address verification service that provides multiple ways to electronically verify 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. Mr. Rajesh Kumar, Sr. Executive Vice President, Head, Debt Management, Risk Intelligence and Business Analytics, HDFC Bank said: “Customer identity authentication represents a key challenge to banks in balancing between a positive customer experience while not compromising risk processes needed to establish authenticity of the customer identity. The electronic authentication of customers done by Prove ID leveraging multiple data sources available to the banking industry like data from the Experian Credit bureau, PAN data from NSDL, UID data from the UIDAI etc. ensures that we overlap all information sources to zero in on the right customer identity through a quick process. This will be of great value to banks in ensuring the optimum customer experience while minimizing risks.” Mr. Rajesh Bansal, Assistant Director General, Unique Identification Authority of India (UIDAI) said: “We welcome industry initiatives like Prove ID which will leverage the Aadhaar and effectively use the UIDAI’s mandate of issuing every resident a unique identification number which they can use to identify themselves anywhere in India to access a host of benefits and services. Products such as Prove ID will help use the Aadhaar to better address the challenges faced by the industry in terms of service delivery by helping establish resident identity.” In the last 3 years, Experian’s Hunter has become the industry standard in its fight against application fraud. Experian’s Hunter Plus service will enable the Indian banking industry to collaborate and share information and use the Experian credit bureau database. The most effective strategy is to prevent the fraud at the point of application and Hunter Plus achieves this without affecting customer service levels and turnaround times. Mr. Anindo Mukherjee, Head of Risk Management, Fullerton Financial Holdings Pte Ltd., Singapore said: “Experian’s Hunter Plus represents the next stage of evolution to the National Hunter fraud prevention service, allowing the industry to proactively detect inconsistencies in applicant information in a standardized, scientific and efficient manner. Hunter Plus will leverage the cutting edge technology of Hunter along with the wealth of consumer data available with the Experian India Credit bureau. We are pleased with this development which will further strengthen the Industry’s application fraud detection capabilities” Tallyman EasyStart is a hosted end to end collections product that helps institutions improve cash flow and profit, recover more at a lower cost and enhance customer satisfaction and retention. It’s easy-to-use interface allows strategies to be tailored and implemented immediately without the need for information technology (IT) support. Prove ID and Tallyman EasyStart are products that are highly relevant to telecom and insurance companies, as they deal with large customer bases and have to ensure the veracity of each and every one of their customers. Addressing senior officials from the BFSI and telecom industry at the Experian India Conclave 2013, Mr. Vikram Narayan, CEO & Country Manager for Experian India said: “Our latest set of new products and services bring another set of major innovations for the Indian market from Experian. We are committed to supporting the Indian Credit Industry with our suite of hosted analytical products and services and we continue to receive wide-spread support for expanding this cross industry collaboration.”
Posted on: Fri, 05 Jul 2013 07:56:31 +0000