Data and decision
support specialist Experian has developed a new solution for
banks to improve the effectiveness of their lending
decisions.
Experian is set to
trial a way of assigning a unique identification number to
individuals. This number would remain attached to the individual in
a database regardless of changes to the individual’s
details.
Go deeper with GlobalData
Experian head of
customer management Nick Evans told RBI:
“Even if someone changes
their name, perhaps by marriage, the number remains attached. This
means that banks can easily identify the key data that helps them
make accurate decisions quickly.
“Some of the databases
we see have up to 15% of entries with wrong addresses. With a
‘persistent PIN’, these errors present a lower risk to making an
incorrect decision by the bank,” said Evans.
Evans said that the
persistent PIN development will be trialed by one or two banks
early in the second half of the year. He added that the plan is to
offer the development to existing customers and prospects later
this year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
