Experian has announced a renewal of its strategic partnership with Hitachi Capital UK.
The partnership will see Experian continuing to provide a range of acquisition credit risk,customer management, affordability and ID verification products.
Hitachi Capital UK operates extensively in the retail finance sector and has opted to extend its use of Experian’s Detect and Hunter fraud prevention services, improving its control of credit and fraud risk and the efficiency of its application processing.
It will also use Experian’s Electronic Identity Authentication service for real-time validation and ID verification of customers.
Andrew Davies, Head of Risk at Hitachi Capital UK said: “Experian’s analytics and data expertise has given us far better control over both credit and fraud risk, and enables us to run a fast and efficient process at the point of application. This partnership extension will enable further improvements in these areas, extend the positive experience we provide to new customers across all areas of the business and to spot opportunities to strengthen and deepen relationships with our existing customers.”
Gary Wood, UK&I Managing Director for Experian Decision Analytics, said:
“Organisations that are serious about achieving sustained growth are increasingly turning to advanced analytics to drive improvements in their decision making strategies. We have worked closely with Hitachi Capital UK to enable them to make faster and more effective decisions on new customers, to improve their offering to existing customers and to provide more precise insight into credit and fraud risk.
“We are aware that for innovative organisations like Hitachi Capital UK, investing in a highly sophisticated infrastructure that enables it to control risk effectively while helping it grow its lending capabilities is absolutely crucial. This is a significant deal that will play a huge role in protecting the organisation’s asset quality.”