Experian reports Slough overtakes London as identity fraud capital of UK

Tue, 15 May 2012 09:45:43 GMT

Experian has revealed that Slough has overtaken London to become the identity fraud capital of the UK.

The Berkshire town recorded 25 identity fraud attempts for every 10,000 households, with residents targeted at around four times the UK national average - seven households in every 10,000. Residents of London, Gravesend, Birmingham, Luton, Manchester and Leicester, were also targeted at twice the national average rate.

London as a whole experienced 22 attempts for every 10,000 households, although attempts were not spread evenly across the capital. Financial service providers detected 78 incidents for every 10,000 households in East Ham, as residents were targeted at more than 11 times the national rate. Woolwich and Stratford also experienced significant identity fraud activity, recording 46 and 43 identity fraud attempts respectively for every 10,000 households.

While the instances of fraud across all financial products remained at a constant level between 2010 and 2011, with six in every 10,000 applications were found to be fraudulent. The data shows that there was a surge in identity theft via current accounts and mortgages during this period, with rates doubling, from six to 14 in every 10,000 applications, and quadrupling, from one to four in every 10,000, respectively. Identity fraud attempts on credit cards fell from 17 to four in every 10,000 applications.

For the first time, young people renting small flats from local councils or housing associations represent the demographic most likely to be targeted by identity fraudsters. This group, known in Experian's Mosaic classification as Upper Floor Living, saw its identity fraud risk score increase by 47 per cent to 256 in 2011. Its constituents are two and a half times more likely than the average UK resident to be targeted.

Previously, the wealthy Alpha Territory demographic - representing the wealthiest sections of society living in fashionable London neighbourhoods - were most likely to be targeted. The risk score for this group helved in 2011, from 301 in 2010 to 149, as fraudsters turned their attentions to younger and less affluent sections of society.

Nick Mothershaw, UK director of identity and fraud services at Experian, commented: "The increasing prominence of lower income demographics at the top of Experian's identity fraud risk table, alongside declining risk scores for the wealthiest groups, represents a notable shift in fraudsters' tactics.

"Identity fraudsters have traditionally focused the bulk of their attentions on the wealthiest sections of society living in prestigious London postcodes. Our research shows that the risk continues to spread, with the highest rates of identity fraud now to be found in the Thames Valley and London’s Olympic neighbourhoods.

"Financial services firms and other providers of credit recognise the financial and reputational risks associated with identity fraud, and have put in place increasingly sophisticated identity verification and anti-fraud measures to combat the threat. Individuals also have a role to play fighting the fraudsters and it is important that they take steps to protect their personal information."

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage risk and assists in the areas of fraud prevention, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

For more information, visit www.experian.co.uk

Experian reveals mortgage fraud increases for fifth successive year

Fri, 27 Apr 2012 15:35:29 GMT

Experian Identity & Fraud has revealed that fraudulent applications for mortgages increased by eight per cent in 2011, marking the fifth consecutive year in which the rate of mortgage fraud has increased.

Around 34 in every 10,000 applications for mortgages were found to be fraudulent in 2011, compared to just 15 in every 10,000 in 2006.

The overall rate of fraud at the point of application across the UK's financial services sector increased by four per cent in 2011 to just over 17 in every 10,000 applications. In addition to record mortgage fraud figures, this overall increase was also driven by growth in insurance and current account fraud.

More than 90 per cent of attempted mortgage fraud in 2011 was down to individuals misrepresenting their personal information on applications. Typically, these first party frauds involved falsifying employment status or financial information, and, most commonly, attempting to hide an adverse credit history.

Experian's demographic insight revealed that Mosaic groups, the Terraced Melting Pot - young, poorly educated individuals living in small towns - and the Suburban Mindsets - predominantly middle aged, middle and skilled working class individuals - were both responsible for around 15 per cent of first party mortgage fraud cases in 2011. The young, well educated professionals of the Liberal Opinions were also prone to attempting first party mortgage fraud, being responsible for 13 per cent of cases.

Nick Mothershaw, UK&I director of Identity & Fraud at Experian said: "About 70 per cent of financial services application fraud in the UK fraud is down to first parties misrepresenting their circumstances, and the products such as mortgages and insurance that have seen fraud soar over the last year have a significant first party fraud element to them. This kind of fraud tends to originate from financially stressed segments of society."

Looking at other financial products, Experian found that insurance fraud UK rates reached 11 in every 10,000 applications and claims in 2011, an increase of 23 per cent over the last year. 89 per cent of insurance fraud was first-party led with the Terraced Melting Pot, Suburban Mindsets and Liberal Opinions demographics responsible for the most instances. Combined they accounted for 43 per cent of cases.

Current account fraud increased to 36 frauds in every 10,000 applications in 2011, up from 23 in every 10,000 in 2010. 60 per cent of current account fraud in 2011 was committed by first-parties, almost a quarter (23 per cent) of which was down to the Terraced Melting Pot demographic. The remaining 40 per cent of current account fraud attempts were down to third-party identity fraudsters seeking to open accounts as a springboard to obtain other credit products or for money laundering purposes.

Not all financial products saw fraud rates increase in 2011. Credit card fraud continued to fall, from 19 in every 10,000 applications in 2010 to 12 in every 10,000 in 2011. Automotive finance providers have also seen fraud rates fall. 23 in every 10,000 applications were found to be fraudulent in 2011, down from 38 in every 10,000 during 2010. 85 per cent of these frauds were first party.

Experian's Fraud Index utilises data from the National Hunter and Insurance Hunter fraud prevention systems, which Experian manages on behalf of its clients. These systems enable financial companies to analyse applications alongside previous ones and highlight inconsistencies which may be indicative of fraud.

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud and banking fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

For more information, visit www.experianplc.com.

Experian enhances Hunter fraud prevention system

Wed, 29 Feb 2012 15:29:07 GMT

Experian, the global information services company, has announced the launch of a new version of Hunter, its industry-leading data-sharing fraud prevention system, improving the effectiveness and efficiency of anti-fraud operations.

The upgrade – available from the end of February 2012 – enhances Hunter’s anti-fraud investigation and collaboration capabilities with more than 30 new and enhanced features. These include integration with Google Maps, automated completion of fraud submissions to CIFAS and greater sharing of fraud intelligence and investigatory capabilities across multiple business units within an organisation.

The integration of Google Maps into Hunter allows fraud investigators to see how the addresses on a number of connected applications relate to each other geographically, through the use of its Street View, Satellite and Standard map views. This will, for example, enable investigators to spot geographic connections that are not obvious from the data, such as potential fraud collaboration between residents of neighbouring properties located on different streets, and ensure that commercial properties are not passed off as domestic residences.

Experian’s new CIFAS Autofile functionality will enable Hunter users to automatically populate fraud submissions to CIFAS with the required information. This minimises the time spent keying duplicated data and can reduce filing time by 80 per cent, dramatically improving efficiency and reducing the margin for human error.

Large organisations running Hunter across disparate business units will also be able to benefit from new collaboration capabilities and take advantage of opportunities to centralise fraud investigation operations internally. Investigators are now able to pull together a greater level of fraud intelligence from other parts of the same organisation and investigate cases across all business units, increasing productivity across the group and providing richer data through sharing of information between departments and offices.

Nick Mothershaw, UK director of Identity & Fraud at Experian, commented: "Fraud continues to represent a clear and present danger to the bottom lines of banks, insurance companies and other financial services and credit granting organisations. The enhancements Experian has made to Hunter will improve the efficiency and effectiveness of fraud prevention capabilities with additional tools for investigation and even greater collaboration. We have enabled users to better understand the location of potentially fraudulent applications with a single click within the Hunter environment and to share fraud intelligence far more easily."

Experian’s Hunter fraud prevention system has been used across the UK’s banking, financial services and insurance sectors for more than 20 years to detect, investigate and record fraud at the point of application.

-ENDS-

About Experian:

Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud and banking fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.

For more information, visit http://www.experianplc.com.

PR contact:
Bruno Rost
Experian
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07967567012
www.experian.co.uk

Experian to create and manage new reference database for the Payments Council

Thu, 10 Nov 2011 09:45:34 GMT

Experian, the global information services company, has been appointed by the Payments Council to create and maintain an industry database of corporate customers' payment information. The central biller database, which will improve the accuracy of payments made using online and telephone banking, is scheduled to go live in late 2012.

Experian will collect, verify and standardise information from banks on how their corporate customers (billers) receive payments. The full database is to be used by banks to make it easier for online and telephone banking customers to find accurate information when paying their bills - for example, via simplified drop-down menus. The service will also benefit billers, who will find it easier to reconcile incoming electronic payments by providing more accurate billing information for customers to use.

The central biller database is an initiative from the Payments Council's recently published National Payments Plan (2011-2014), forming part of the Payment Council's programme of activity to enhance existing payment services through innovation.

Jonathan Williams, Director of Strategy at Experian Identity and Fraud comments: "Experian estimates up to a quarter of customer references are invalid or incorrectly formatted, increasing the time it takes to credit payments and sometimes preventing them from being credited altogether, particularly when bill issuers change their account details, switch banks, or are involved in a merger or takeover.

"This database will help ensure banks hold correct and up-to-date information for billers and it will give both corporate and consumer customers' confidence their payment will reach the right recipient and will be processed quickly."

Hilary Plattern, Head of Strategy for the Payments Council, said: "This innovative solution is a win-win: consumer customers making payments benefit from increased confidence in the accuracy of the information they use to pay bills online or over the phone, while companies can be confident their customers are using up-to-date bank account and sort code details, as well as correctly-formatted references.

"This new database is an excellent example of the Payment Council's commitment to put customers' needs at the centre of the way payment methods are designed. We look forward to working with Experian to develop and deliver this service."

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses in the areas of fraud prevention and fraud solutions (including banking fraud), as well as helping to manage credit risk, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion.

For more information, visit www.experianplc.com.

About the Payments Council
The Payments Council is the body with responsibility for ensuring that payment services work for all those that use them in the UK. This unique role ensures that it listens to a wide range of stakeholders to drive innovation in payments and implement change so that individuals and businesses have access to payments for their current and future needs. The company is, by nature, a collaborative body so it works with the financial institutions in the payments industry as well as listening to the voices of its external stakeholders. The Payments Council has three core objectives: to have a strategic vision for payments and lead the future development of co-operative payment services in the UK; to ensure payment systems are open, accountable and transparent; and to ensure the operational efficiency, effectiveness and integrity of payment services in the UK.

For more information visit www.paymentscouncil.org.uk

Experian reveals identity and fraud solutions for the insurance sector

Wed, 09 Nov 2011 16:24:32 GMT

Experian, a leading global information services company, has announced its solution to the growing illegal business of insurance fraud, suggesting that insurers use online tools and data analysis technology instead of traditional, error-prone methods.

Fraud in the UK is a growing billion-pound illegal business with fraudsters finding new and inventive ways of targeting weaknesses in data systems. Insurers are far from immune. Indeed, the latest estimate from the Association of British Insurers is that insurance fraud costs £2 billion a year, adding, on average, an extra £44 a year to the insurance bill for every UK policyholder.

Nick Mothershaw, Director of Identity and Fraud at Experian, said: "Over the last five years insurance fraud has risen fast and deceptions become ever more devious. It has never been so important for insurers to have the latest techniques and technologies in their armouries to help protect themselves and their customers."

Online tools enable insurers to investigate individuals under suspicion of fraud in real time, with access to a range of data sources. The most sophisticated tools allow access to a comprehensive range of household, motor and personal injury insurance claims, vehicle information, motor insurance policy details and linked addresses.

At Experian, the data, technology and expertise that is offered has helped many insurers become more sophisticated in how they combat fraud. They increasingly require robust tools to verify the identities of those they are dealing with as well as strong anti-fraud measures at the point of application and claim.

Traditional methods of identity checking can be time-consuming, costly, error prone and an inconvenience to customers, often resulting in a drop-off. Also, the results generated are not standardised, so insurers can't compare like with like and get the complete picture. Thus, this process takes time and leads to inconsistent decisions.

Experian's Identity Solutions for Insurance offers bank account verification in real-time at point of quote, sign-up and claim. The Identity Solutions also allow insurers to pick and choose what elements they want to check, combine the results and see the complete picture of a client's identity.

Investigating customers who represent a potential for fraud is time-consuming and complex. By accurately assessing risk at the earliest opportunity Experian's fraud solutions for Insurance identify fraud at the point of policy. The fraud solutions can also help identify fraud networks within the current customer base, and help identify:

-Fronting
-False Payment Details
-Use of stolen identity to obtain policy
-Use of stolen/forged documents
-Undisclosed Claims/ Convictions/Voidance
-Occupational discrepancy
-Staged Accidents

The fraud prevention solutions support a continuous cycle of fraud prevention, detection, investigation and improvement. An audit log of all significant actions performed by both system and users is kept, making it easier to ensure best practice and reduce any misuse of the system.

Experian's Payment Solutions can also help insurers realise the competitive differential of using Faster Payments for claims payments and can identify if a claimant's bank account genuinely belongs to them and is able to receive a faster payment.

Experian also helps individuals to check their credit report and credit score, and offers Identity Authenticate to protect against identity theft. Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion.

Experian data shows identity fraud attempts double in first half of 2011

Thu, 20 Oct 2011 16:17:22 GMT

Experian, the global information services company, has released its latest Fraud Index which reveals that identity fraud attempts doubled in the first half of 2011, compared to Q4 in 2010. This pushed up the overall level of application fraud attempted against UK financial services firms for the third successive quarter. Experian also predicts a nine per cent increase in application fraud attempts during 2011*.

The analysis, published at Experian's annual Identity & Fraud Forum, reveals that identity fraudsters were responsible for eight in every 10,000 applications made in Q2 2011 (April - June 2011), double the number of fraudulent applications recorded in the final quarter of 2010. This was driven by a 340% increase in current account identity fraud, from five to 22 in every 10,000 applications.

Experian's analysis also highlights that 18 in every 10,000 applications for automotive finance, credit cards, insurance, loans, mortgages, current accounts and savings products made in the second quarter of 2011 were found to be fraudulent. These were five per cent higher than January to March 2011, and up nine per cent on the year.

Over the same period the number of first-party fraud attempts - where a genuine individual misrepresents their circumstances - remained constant at 10 in every 10,000 applications.

42 in every 10,000 applications for current accounts were detected as fraudulent between April and June 2011, up 20 per cent on the first three months of 2011 and 59 per cent higher than during Q2 2010. For the second quarter in a row, current accounts were the most targeted financial product by fraudsters.

Experian's Fraud Index collects data from both the National Hunter and Insurance Hunter fraud prevention systems, which are managed by Experian on behalf of its clients. Both systems provide a way for financial organisations to protect against fraud by comparing applications with previously submitted ones and pinpointing inconsistencies.

Nick Mothershaw, Director of Identity & Fraud at Experian UK & Ireland, commented: "Identity fraud is back with a vengeance. Our analysis shows that we are witnessing a surge in the number of detected identity frauds, with current accounts the number one target in the UK. Fraudsters see the current account as an easier option, giving them a springboard for money laundering and from where they can also target more lucrative credit products such as mortgages, credit cards and loans."

ENDS

Notes to Editors:
*Predictions based on Experian analysis of data from National Hunter anti-fraud data sharing scheme

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making, as well as offering ID verification. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian's Payments Gateway is the UK's leading Bacstel-IP solution used by 25 of the top Bacs Users by transactional volume and is the Bacs software of choice for some of the largest and most innovative Bacs originators.

Experian reveals unlawful social housing subletting in the UK could be costing £2bn a year

Tue, 20 Sep 2011 15:13:18 GMT

New research by Experian Public Sector has revealed that the threat of social housing tenancy fraud in the UK could be significantly larger than previously thought.

Based on an initial analysis of 125,000 social housing arrangements at just ten UK local authorities and housing associations in both rural and urban areas, Experian Public Sector’s experts estimate that potential fraudulent occupancy of social housing, such as subletting, could exist at a minimum of 157,077* properties when extrapolated up across the rest of the UK.

The Audit Commission estimated the level of tenancy fraud at 50,000 properties in 2009** but Experian Public Sector’s analysis suggests that the figure could now be at least three times higher than this.

The preliminary findings follow a series of data matching exercises which analysed social housing tenancy lists at ten UK local authorities and housing associations. The analysis looked for data that might suggest subletting and warrant further investigation. This involved the use of compliant information to identify a range of fraud indicators, including the number of tenants not currently occupying their tenancy address and found living at another address.

The analysis indicates that potential fraud, such as subletting, could exist within a minimum of 3.1 per cent of social properties. When extrapolated nationally, based on 5.06 million social properties, this suggests potential fraud could exist at a minimum of 157,077 properties in the UK.

If all of these social properties were subject to fraudulent activity and made available to people currently in temporary accommodation, the reduced cost and saving to the tax payer would be in excess of £2.0 billion*** a year. Freeing up existing social housing means reduced waiting lists which could also mean fewer new social properties need to be built.

Nick Mothershaw, Experian's director of Fraud and Identity Solutions, commented: "Our initial research suggests that the level of social housing tenancy fraud in Britain could be much higher than previously estimated. It also demonstrates how more effective data matching can quickly provide a reliable indication of what could be illegal occupancy and subletting. This means investigators can prioritise and deal swiftly with fraudulent cases. Reducing social housing tenancy fraud will significantly reduce the cost of temporary accommodation which we estimate to be at over £2 billion a year."

Notes to Editors:
* Preliminary research analysed social housing tenancy lists at just ten local authorities and housing providers in a mix of urban and rural areas. Additional files will be added over time and the estimates will be revised so at this stage the lowest minimum estimates are cited. The research showed strong supporting evidence of potential fraud at a minimum of 3.1 per cent of social properties. When extrapolated, based on total housing stock of 5.06 million, this would suggest potential fraud at a minimum of 157,077 properties.
** In its 2009 report entitled 'Protecting the Public Purse', Audit Commission estimated social housing tenancy fraud in 50,000 properties.
*** Savings are calculated using an estimated cost of £18,000 per annum for temporary accommodation. This is the aggregate cost based on estimates provided by housing providers in both rural and urban areas.

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses with credit risk management, fraud prevention, target marketing offers and automate decision making. It also offers a payments gateway to allow businesses to securely manage all UK payments and collections.

Experian also helps individuals to check their credit report and credit score, and offers ID verification to protect against identity theft. Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion.

Experian reveals mid-life makeover trend

Fri, 09 Sep 2011 17:31:02 GMT

Experian CreditExpert, the UK's most trusted credit monitoring service, has revealed that men and woman in their 40s and 50s are taking ownership of their existential questions and seizing the opportunity to take real life-changing and self-affirming steps in their life.*

The mid-life crisis is often perceived as a 'curse' of middle age, associated with men of a certain age attempting to relive their youth through extravagant purchases like sports cars and designer clothing. But as average life expectancy, and with it the age of retirement, creeps ever upward, this is all changing for men and women in their 40s and 50s.

85% of 40-59 year-olds surveyed by Experian CreditExpert had felt the need to change their life situation in the last five years, with responses demonstrating that, far from the expected plans to splash out on cosmetic surgery or fast cars, mid-lifers are making decisions that directly impact their work and life happiness, giving themselves a second chance at achieving their ambitions and desires - from changing career or learning new skills to seeing the world.

70% gave 'travelling the world' as one of their goals in later life, with the next most popular options being 'spending time learning new things' (46%) and 'dedicating my life to a favourite hobby' (29%). By comparison, only 13% (and only 3% of men) would have a cosmetic makeover, and purchasing a sporty new run-around did not feature at all.

The most clear gender divide was over what middle-aged men and women were most hoping to achieve by making life changes. Among men, gaining a better work/life balance was the most popular answer which was given by 32% of males (compared with just 20% of females). By comparison, women's priorities were focused on adventure and gaining new life experiences with 36% giving this answer, compared with 30% of males.

Simple life changes were shown to have the biggest effect on most people's happiness, as 'making a career change' and 'making new friends' were both expressed as having had a significant positive impact on their lives in recent years by 51% of those polled.

Money was predictably shown to play a big part in achieving one's life goals. 69% said that a sudden change in their financial situation, such as an unexpected windfall or pay rise, would be the factor that was likely to kick-start their own 'mid-life makeover'. 74% felt that their financial situation was the only thing still holding them back from making significant changes.

"People entering their late 40s in 2011 are still only halfway through their working lives", said Pete Turner, managing director of Experian Interactive. "These results show that, far from throwing money at new toys in a 'quick fix', many are channelling their energy towards making positive, fulfilling changes. Preparing for the 'mid-life makeover' by cleaning up your credit rating can, for many, be the first step towards achieving those dreams."

Notes to editors:
* All statistics taken from a survey of 2,000 UK adults aged 40-59 by OnePoll for Experian UK, August 2011.

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit reports and credit rating, and protect against identity theft.

Experian reports rich getting poorer

Tue, 16 Aug 2011 16:12:30 GMT

Experian has reported a massive 100% increase in the level of borrowing amongst high income families in their 30s and 40s over the past three years, with many citing the rising cost of living as the main cause.

Over a third (33%) of high income families are now reliant on overdrafts of over £1,000 to keep the family finances ticking over between pay-days, compared to just 15% in 2008. This is according to the results of a three-year survey commissioned by Experian, the global information services company and the largest credit reference agency in the UK.

The report reveals a high proportion of these families (52%) are regularly borrowing money against their overdrafts resulting in expensive repayments because of the high rates of interest charged on overdrafts compared to other credit products.

47% of UK adults have applied for additional credit in the past two years, with some borrowing from sources which charge relatively high interest rates, potentially adding to their financial pressures and risking missed repayments and a chequered credit history.

Despite this, nearly two-thirds of high income families are actually optimistic about their financial future, with 61% believing their financial situation will improve in the next 12 months, despite dipping in to their savings and relying on their overdrafts to make ends meet.

When many are borrowing to make ends meet, Experian highlights that many people are missing out on the best rates because they're unaware of the benefits of managing their credit report with a service such as Credit Expert.

Brits are getting better at accessing and managing their personal information that lenders see which is inevitably resulting in them securing better borrowing rates.

Making the right decisions where borrowing is concerned is vital, and getting a good credit rating is one of the ways you can give yourself the best chance of finding the deals you want.

Peter Turner, Managing Director at Experian Interactive said: "UK families often rely on their overdraft to get by, but that is not always the best option. Many of us choose to borrow, but it’s where you borrow from that makes all the difference. The current financial climate is tougher than ever and seeing your credit report could help families manage their credit better, as well as helping them plan for their financial futures."

Credit Expert from Experian shows customers what a lender sees in their name. Every time someone applies for credit or a loan, that request is recorded. Multiple requests on borrower's credit history can look as if you are over-extending yourself or a fraud is being committed. For those looking for a good credit deal or mortgage, Credit Expert allows them to check their report instantly online to ensure that it accurately reflects their position, and then as often as they want after that. Credit Expert members can also match their credit report to credit offers they are more likely to be accepted for using Experian's Lower My Bills service.

- Ends -

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

For more information, visit www.experianplc.com.

Experian selected by Crédit Agricole CIB as preferred partner

Thu, 16 Jun 2011 17:14:34 GMT

Experian, the global information services company, has announced that it has been selected by Crédit Agricole CIB as its preferred partner to help its corporate banking customers access Experian's global payment validation and automated data conversion services.

The agreement will see Crédit Agricole CIB work with Experian to offer Crédit Agricole CIB's corporate banking customers access to Experian's market leading range of global payment validation and automated data conversion services.

Clients of Crédit Agricole CIB choosing Experian's services will be able to validate and convert their existing payment records to the required IBAN and BIC formats across the whole SEPA region. The collection of new account information will also be enhanced with validation at point of capture available across 228 countries and territories worldwide.

Clients will be able to more effectively and efficiently initiate payments to and from the SEPA region from anywhere in the world, moving away from higher cost payment mechanisms to lower cost SEPA payments and reduce costly delays associated with reprocessing failed payments.

Jerome Cavaliero, head of Western European sales, Global Transaction Banking at Crédit Agricole CIB, commented: "By working with Experian we are able to offer to help our customers ensure that both existing and new bank account details are successfully collected, validated and converted into the right format. This should help our customers who will be able to meet anticipated SEPA deadlines, improve their straight through processing rate and reduce their costs for incorrect or rejected payments.

Jonathan Williams, director of strategic development at Experian Payments, added: "Experian's agreement with Crédit Agricole CIB highlights growing demand from corporate banking customers for support in meeting SEPA data requirements prior to the anticipated deadlines of 2013 for SEPA Credit Transfers and 2014 for SEPA Direct Debits. Validation and conversion of bank account data for new and existing payments is crucial to ensuring that SEPA is implemented smoothly and at minimum cost to the bank, its corporate customers and their clients and suppliers."

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making, as well as offering payment software and bank account verification. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian reveals UK fraud cases surge by 11% as fraudsters' techniques evolve

Wed, 13 Apr 2011 11:16:30 GMT

Experian, the global information services company, has revealed that fraudulent applications for credit and other financial services leapt by 11 per cent in 2010 compared to 2009.

Identity fraudsters and criminals have turned to even greater stealth by targeting bank current accounts as a gateway to then attempt access to more lucrative credit card and loan fraud. The analysis from Experian shows that attempted credit card fraud levels reached 19 in every 10,000 applications in 2010, with identity fraudsters accounting for more than 80 per cent of attempts.

There was also an increase in attempted loan fraud (from five in every 10,000 applications in 2009 to seven in every 10,000 applications), with identity fraudsters responsible for 60 per cent of these cases. Current address fraud was the preferred point of attack for both types of fraud, a technique which requires some form of mail interception or redirection.

Experian's analysis also shows that first-party fraud is on the increase and now accounts for 56 per cent of detected fraud attempts, up from 39 per cent in 2009. First party fraud is when someone knowingly creates a false picture of their circumstances to secure credit.

Peter Turner, Managing Director of Experian Interactive, commented: "Our research shows that fraudsters are becoming increasingly sophisticated and more menacing than ever before. It is important to have proper safeguards in place to protect your identity such as ensuring that you keep your pins and passwords private, properly checking your bank statements and taking care when sharing personal details online."

The Experian Fraud Report also reveals that whilst London continues to be the identity fraud capital of the UK, there is new evidence suggesting that identity fraudsters are migrating westwards out of London and increasingly targeting residents of commuter towns, including Reading, High Wycombe and Basingstoke.

As fraudsters turn their hands to new tactics, their targets become ever more widespread, focusing on those who flat-share or rent their homes, those with generous disposable income and individuals whose wealth makes them a key overall target.

According to Experian's new report, the often visible wealth of the 'Alpha Territory' Mosaic demographic and their ability to access substantial credit lines makes them three times more likely to be targeted for ID fraud than the national average.

The second most at-risk demographic in 2010 were the young professionals of the 'Liberal Opinions' Mosaic groups. Their dependence on the internet and tendency to live in rented and shared accommodation with high tenant turnover meant they were twice as likely to become victims of fraud.

Alongside these more affluent groups, are young, single people usually on limited incomes, renting small flats from local councils or housing associations - the 'Upper Floor Living' demographic. This group has become a more popular target over recent years as fraudsters have sought to perpetrate higher volumes of low value crimes as a way of attempting to circumnavigate increasingly sophisticated fraud defences.

The least likely to become identity fraud victims are those whose circumstances make them less accessible to criminals. Over 65’s, for example, who have made a deliberate attempt to distance themselves from large cities, and the large numbers of pensioners that can no longer engage in high levels of physical activity are all four times less likely to be a victim of fraud.

ENDS

Notes to editor:
The Experian Fraud Report 2010 is an analysis of information from the National Hunter anti-fraud data sharing system and the Insurance Hunter database.

ProtectMyID from Experian warns of an increased risk of flatmate fraudsters

Fri, 25 Feb 2011 11:00:20 GMT

New research by ProtectMyID from Experian, the global information services company, has found that while flat sharing is a practical solution to finding accommodation in an overpriced market, it could mean that people are putting themselves at risk of ID Fraud from new flatmates. This research comes at a time when online searches for 'flat sharing' have more than quadrupled in the past year as the cost of everyday living continues to rise*.

According to the Experian study of over 5000 victims of fraud, young people, particularly those in shared rented accommodation, living in flats with communal halls or those who move frequently are the third group most at risk from identity fraud with a risk that is over two and a half times the national average. Indeed a quarter of victims suspect renters, lodgers or flatmates of cashing in on shared mailboxes and undirected post**.

Peter Turner from Experian's ProtectMyID commented, "Flat sharing and rental is fast becoming the best option for millions of Brits unable to provide the necessary deposits to make their first step up the property ladder. In the majority of cases this is a great option to meet new people and experience living away from home for the first time.

"However, as one of the fastest growing groups targeted by both professional and amateur fraudsters, we want new flat sharers to be more vigilant to the dangers and effects of ID fraud. By sharing your home, flatmate fraudsters have all the access they need to a vast amount of your personal information in the way of post, personal documents and photos."

Key benefits of ProtectMyID.co.uk:
- Continuous ID protection monitoring for signs of potential fraudulent activity
- Email or text alerts to user if a change is detected
- Full details of the activity with recommendations on next steps held on a secure personal account
- Access to dedicated caseworker for one to one help and advice for victims of fraud
- Optional free fraud insurance of up to £75,000 (Provided by ARC, underwritten by AXA) to cover fraud resolution costs
- Option to apply for CIFAS Protective Registration if at risk or already a victim of fraud.
- Access to information on how to protect against the risks of becoming a victim of identity theft through the ProtectMyID ID fraud blog.

- ends -

Notes to editors:
* Research provided by Hitwise from Experian. February 2011
** Victim of Fraud Insight Report by Experian, March 2010

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2010 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.

Experian warns smartphone users to smarten up

Thu, 13 Jan 2011 12:04:55 GMT

Experian has warned smartphone users may be risking the security of their identity if they store sensitive information on their phones and use unsecure WI-Fi networks to get online. This is according to new research by ProtectMyID, Experian's identity-protection service.

According to this latest research:
- Nearly two thirds (65%) of smartphone users send and store e-mails on their phones – even if these include sensitive information such as receipts and credit card details from shopping online.

- More than half (53%) of smartphone users access social networking sites from their phones. This could easily reveal key pieces of information like names, dates of birth and other details commonly used as passwords for online banking and other accounts, such as first school or place of birth.

- Nearly one third (29%) of smartphone users take advantage of public Wi-Fi hotspots (often found in city centres, used whilst having a break from the shops) which are unsecure and highly vulnerable to electronic eavesdroppers.

- Of these, one in five (19%) say they conduct online banking while using public WiFi, risking their accounts, PINs and passwords.

The Home Office found that mobile phone identity fraud, rose by three quarters (74%) in the first half of last year* but more than half of the smartphone users who took part in the Protect My ID survey were completely unaware of the problem.

"The personal information on an average smartphone is like gold dust to an ID thief and many of us could be putting this on a plate by using public Wi-Fi networks," said Peter Turner, Managing Director of Experian Interactive. "A criminal can use this information to masquerade as the phone's owner, drain his or her accounts, run up debts in their victim’s name and even open new accounts.

"Often, the first people know about it is when they receive a demand for payment for services they haven't used or for an account they have never heard of. We've certainly seen cases where criminals have changed the address of the smartphone, ordered new handsets and run up huge bills."

As many as 10,000 smartphones are also stolen every month, according to the Metropolitan Police**, so it really makes sense for users to take sensible identity protection precautions to keep their personal information safe.

Notes to editors:
*CIFAS: Fraudscape, 2010
** www.met.police.uk/crimeprevention/phone.htm

Key benefits of ProtectMyID.co.uk
* Continuous monitoring of Experian credit reports for signs of potential fraudulent activity
* Email or text alerts to user if a significant change is detected
* Full details of the activity with recommendations on next steps, all held on a secure personal account
* Access to dedicated caseworker for one-to-one help and advice
* Optional free fraud insurance of up to £75,000 (Provided by ARC, underwritten by AXA) to cover any fraud-resolution costs
* Option to apply for CIFAS Protective Registration for those at particular risk or already a victim of fraud.

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent identity fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and offers).

Experian CreditExpert reveals many relying on credit to find lifestyles

Wed, 24 Nov 2010 11:31:00 GMT

Experian CreditExpert is encouraging Brits to take more control of their personal finances following the admission by millions of Brits that they are heavily dependent on credit. This is according to the latest research by Experian, the global information services company, which released the research as part of Financial Planning Week (22nd - 28th November).

Despite the current economic climate and Government austerity measures, the Experian research highlights some worrying spending habits, with over half (51%) of 18 to 34 year olds describing their spending style as spontaneous, adhering to the motto of 'If I see something I like, I’ll buy it straight away.'

In order to avoid this 'creditaholic' behaviour, it is important for consumers to review their credit report regularly to help them to stay in control of their borrowing. Most importantly, building and maintaining an excellent credit history can help to save money in the future, because the cheapest credit deals are often reserved for customers with the highest credit scores. CreditExpert from Experian offers complete online access to credit reports to help monitor the effect any spending has on credit ratings, helping customers to manage their financial situation and ensure a positive impact on future applications.

Other key statistics from the Experian study point to 18 to 34 year olds as the biggest 'creditaholic' culprits, with over a third of this age bracket (36%) admitting to using their credit cards as a financial buffer before pay day. Adding to this, over a third (34%) of 18 to 34 year olds currently have between £2,500 - £4,999 outstanding debts to repay including overdraft, credit cards, store cards and loans, but excluding mortgage payments.

When it comes to the gender divide, men appear to be less financially proactive. Men (24%) are almost three times more likely than women (9%) to wait for at least one reminder before paying their monthly bills.

Peter Turner, Experian spokesperson said: "When applying for credit it's incredibly important to know your limits and what you can afford. Review your finances before you apply for new credit - work out your living expenses, go through your statements and check your credit report. This should give you a clear idea of the size of additional repayments you can afford."

Nick Cann, CEO of the Institute of Financial Planning said: "The effects of the rising cost of living, pay freezes and possible interest rate rises mean it's more important than ever for people to get into good habits when it comes to planning their finances. That's what Financial Planning Week is all about, and useful ideas and tips such as these from Experian, are a great way to help people take control of their money - and their lives."

Financial Planning Week aims to raise the awareness of the benefits of Financial Planning, whether it is through some simple Financial Planning steps or working with a professional Financial Planner. The week is run by the Institute of Financial Planning, a not for profit professional body who work to help people across the UK realise the importance of Financial Planning in their lives.

-ends-

Notes to Editor
All statistics are from 72 Point Research (August 2010) commissioned by Experian. Sample size 2,000

About CreditExpert.co.uk
CreditExpert.co.uk is a subscription membership priced at £7.99 per month, allowing customers unlimited online access to their credit report. The service comes with a free trial period that allows members to see and sample the service's benefits.

Experian reports shoppers preparing early for Christmas borrowing

Fri, 12 Nov 2010 12:53:53 GMT

Experian has revealed new research which shows that this year, consumers are better prepared for Christmas borrowing than in previous years. To ease the financial strain of Christmas shoppers were searching online as early as October for the best credit card deals rather than waiting until January when the bills come in as has been the case in past years.

During October 2010, searches for '0 balance transfer credit cards' increased by more than 35% compared to October last year, already reaching similar levels to the post Christmas 2009 period (January - March 2010)*.

Experian reminds shoppers to review their credit history before applying for new credit to make sure everything is accurate and up to date to give them the best chance of being accepted for the deal they want. This is where CreditExpert** from Experian can help as it offers complete online access to the customer's credit report.

CreditExpert.co.uk members can also access the free LowerMyBills service via the CreditExpert member centre which finds the best credit card deals based on the individual's credit score and circumstances.

Peter Turner, Managing Director of Experian Interactive said: "In order to qualify for the deals this Christmas, the best thing you can do is regularly monitor your credit report. Make full use of the CreditExpert service by clicking through to LowerMyBills where you can quickly check to see if you'd be accepted for a deal without leaving a footprint on your credit report."

Robin Goad, Research Director at Experian Hitwise added: "People seem to be wising up to the fact that they can't just bury their heads in the sand and hope for the best when it comes to paying for Christmas. Internet users are getting better prepared this year by researching 0% balance credit cards before Christmas gets underway."

- ENDS -

Notes to Editors:
*All statistics unless otherwise stated are provided by competitive intelligent service Experian Hitwise, November 2010
**CreditExpert offers a 30 day free trial after which a monthly fee applies

For more information, visit http://www.experianplc.com.

Experian announced by RBS to provide global payment validation

Tue, 26 Oct 2010 15:51:07 GMT

Experian, the global information services company, announced that it has been selected by RBS to provide a range of global payment validation and data conversion services to the bank's corporate customers. The agreement enables RBS' corporate customers to make SEPA (Single Euro Payments Area) compliant payments and ensure payments reach the correct beneficiaries anywhere in the world.

As the migration to SEPA services gathers pace, banks and their corporate customers will no longer be able to use domestic Basic Bank Account Numbers (BBANs) in their domestic and cross-border euro payments. Failing to submit payment details in the correct format may incur additional charges plus additional fees for correcting the information. Using Experian's Data Conversion service, RBS' corporate customers will be able to check and cleanse bank account details in bulk and then convert them from domestic BBANs into the required International Bank Account Numbers (IBANs) and corresponding BICs for all domestic and international payments under SEPA. This will also enable corporates to improve the Straight-Through-Processing of payment instructions and benefit from lower cost Euro payments.

Capturing the correct beneficiary bank account and payment routing information for processing cross-border and international payments can be time-consuming and costly. Bank Wizard, Experian's global validation software, allows RBS corporate customers to instantaneously validate account details and find the correct Bank Identifier Code (BIC) in up to 228 countries and territories worldwide. Using Bank Wizard, RBS' corporate customers will reduce the costs and delays associated with reprocessing failed payments, whilst at the same time improving customer service levels. Corporates will also find payment routing more effective by moving away from higher cost wire payments to lower cost SEPA payments or ACH payments, worldwide.

Wilco Dado, head of Global Payments at RBS, commented: "Through Experian we will be able to provide our customers with a range of services that allow them to mitigate against the cost and risk associated with continual changes in the global payments market. This new service will allow our corporate customers to validate and convert bulk data files and to validate bank account data at the point of data entry. As a result, customers will be able to successfully route payments via SEPA or other routing mechanisms, whilst completing any missing information required for worldwide payments."

Jonathan Williams, Director of Strategic Development at Experian Payments, added: "This new service will provide RBS' corporate customers with IBAN Validation and a valid BIC for each SEPA transaction and deliver payment information in the appropriate format for destination countries, globally. As a result, organizations can optimise their payment and settlement mechanisms and replace often costly and inefficient legacy processes."

About Experian Payments
Experian Payments develops global strategic payment software and services to meet the requirements of the world's leading banks and corporate organisations. Focussing on the specific challenges of data validation, payment validation and payment processing, Experian Payments' platform-independent software and services help organisations control costs, reduce risks and improve customer service through the minimisation of payment errors. Experian Payments has over 1,000 customers across all sectors of industry and commerce. Experian Payments is a division of Experian.

Experian launches ProtectMyID

Fri, 03 Sep 2010 14:02:00 GMT

Experian has announced the launch of a new service specifically aimed at protecting consumers against the growing threat of ID fraud: ProtectMyID

ProtectMyID offers a comprehensive online service to allow consumers to keep track of where their personal information is being used to secure credit. The launch of the service follows research by Experian that shows identity fraud is on the increase and is more widespread than ever. Experian revealed that the number of identity fraud victims who sought help from the company last year leapt by nearly 20% compared to the year before.

ProtectMyID provides credit report monitoring with text or email alerts if any credit is applied for in the user's name. Details of the activity and advice on what to do is then posted to the user's personal and secure online account. As part of the service users also have access to a dedicated Experian caseworker who can offer individual advice to help resolve the suspected ID theft or other fraudulent activity. Other benefits of the service include free fraud insurance to cover the cost of resolution up to £75,000 (provided by ARC, underwritten by AXA) and the option for CIFAS Protective Registration.

The Experian research revealed that in 2009, people were taking longer to discover that they have become a victim of fraud, indicating that fraudsters are getting better at covering their tracks; the average time taken is now 416 days, up 17 days compared to 2008. Year on year, reported fraud rose most sharply in early summer, rising by 57% in May and by 74% in June - the highest number ever reported to Experian in any single month. The average financial loss per victim was £1,100 in 2009 and the most extreme loss reported to Experian was for almost £59,000.

Commenting on the launch of the new product Peter Turner, MD of Experian Interactive, said "Identity fraud is one of the fastest growing crimes in the UK and our research shows that organised criminal fraudsters are not solely focusing on the wealthy but are now turning their attention to the wider population.

"There are increasingly higher volumes of less easily detectable crimes being committed against the more vulnerable groups, including the retired and young, low-income families. ProtectMyID is a service aimed to provide that safety net of protection so customers can rest assured that we are keeping an eye on their personal details, even when they can't."

Whilst credit card fraud is the most obvious aspect of identity fraud, it is important consumers consider the problems that may be in store in the future. Without resolving fraudulent activity quickly, victims of identity fraud could find themselves with problems such as difficulty obtaining a mortgage or a job - both of which potentially have implications on an individual's reputation and finances.

About ProtectMyID.co.uk
ProtectMyID is provided by Experian Ltd. Experian Ltd, Landmark House, Experian Way, NG2 Business Park, Nottingham, NG80 1ZZ, United Kingdom. Registered No. England 653331.

The new study looked at how willing the public are to display personal details online compared with the information they are prepared to give out to people/companies contacting them by phone. The figures are vastly different, with minimal numbers of people admitting to give out such personal information directly to strangers (Town of Birth (7%), Name of past schools (1%), mother’s maiden name (6%)**).

In addition, the research revealed that over half the population (51%)** use the same online password for some or most of their online accounts, with 52%** admitting to never changing their online passwords, or only changing their passwords when they believe their online account may have been compromised or have been prompted to do so.

Speaking about the research results, Pete Turner, Managing Director of Experian Interactive, said: "The results of our research show that the message of identity fraud is still not being heard. The Internet is accessible to almost everyone and as the number of users grow, so do those using it for criminal purposes. Users need to be aware of what information they are giving out online and who might be accessing it. People are clearly aware of the dangers of giving away personal details to strangers calling them up on the phone, so why are they giving this information away to a huge audience online?"

2009 research conducted by Experian revealed that people took longer to discover that they had become a victim of fraud, indicating that fraudsters are getting better at covering their tracks; the average time taken is now 416 days, up 17 days compared to 2008*. Year on year, reported fraud rose most sharply in early summer, rising by 57% in May and by 74% in June* - the highest number ever reported to Experian in any single month. The average financial loss per victim was £1,100 in 2009 and the most extreme loss reported to Experian was for almost £59,000*

-ends-

Notes to Editors:
* Statistics from Experian
** YouGov Plc. Total sample size was 2003 adults. Fieldwork was undertaken in July 2010. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

About ProtectMyID.co.uk:
ProtectMyID is provided by Experian Ltd. Registered No. England 653331.

About Experian:
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft by providing data management strategy and meet growth targets that forecast sales of £55 million in 2010. The company’s menswear range, which includes formal shirts, suits and ties, is currently sold through a combination of 12 European retail outlets, a call centre and a dedicated website.

At the front-end, QAS software, including an address finder and postcode finder, is used to add accurate data to its database for order fulfillment and future marketing communications. In the UK, it is also used to cross-reference customer addresses against the edited Electoral Roll to verify that a person claiming to live at a given address actually lives there.

Taking its contact data accuracy principles online, Charles Tyrwhitt will also use the application to help customers to enter their address details quickly and accurately when placing an order via the website. This will improve customer service and ensure information and products are dispatched to the correct address.

The software will be used to clean and maintain address data that is entered onto its system via Amazon, which also sells Charles Tyrwhitt's goods online. This helps to ensure that data captured by third parties is kept uniform with in-house processes, improving the targeting of future mailings received by customers.

Cora McDonnell, Systems Manager at Charles Tyrwhitt commented: "Using a contact data management tool is crucial for our business and will play a vital part in our ability to reach our £55 million growth target. Dispatching an order with someone's name or address misspelt risks it failing to reach the correct pair of hands, and reputational damage that could impact on future sales. Experian QAS's solutions are user-friendly enabling us to tidy up address data and put it in the format we like it at the click of a button."

Stuart Johnson, UK Managing Director of Experian QAS added: "Data is at the heart of every successful business operation and in an increasingly competitive marketplace it's vital that organisations harness this information to improve their customer communications and in-house processes. Our work with Charles Tyrwhitt is testament to our ability to provide cutting edge data management solutions in the retail sector and we look forward to growing our presence in this space."

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making via solutions such as email validation and data cleansing. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Brookson partners with Experian

Tue, 23 Feb 2010 16:51:34 GMT

Brookson has improved its identification assessment process by introducing Experian software for its customer ID checks.

Brookson, a leading accountancy, tax and support services provider to the self employed, has selected Experian as the ideal partner for its Identification Software. Experian's Authenticate Pro and Validator Plus products will be used to verify the new customers and will dramatically reduce the time it takes Brookson to complete their customer take on process.

Brookson's umbrella company customers work with a wide range of recruitment businesses. The Experian partnership enables Brookson to continue to be a compliant service provider while meeting the speed of set up required by both its contractor customers and the recruitment businesses. If contractors are delayed in taking up opportunities it costs the contractor and the agency money.

Authenticate Pro accurately verifies the identity of new customers by referencing applicant details against Experian’s data sources to obtain a 'pass', 'fail' or 'refer' with regards to their identity. Where a 'fail' or 'refer' is signalled, a supporting tool called Validate Plus performs a remote check on information contained in official documents, such as a passport number, without the customer having to part with these.

Andrew Sloan, Head of New Business at Brookson, explained: "Introducing new and innovative solutions is something Brookson continue to demonstrate across both its limited company and umbrella company service lines. This latest addition will further streamline our joining process, in many cases allowing customers to join on the same day, provided relevant checks are passed."

Stuart Johnston, Managing Director at Experian QAS added: "The authentication process plays a crucial part in improving business efficiencies in the financial services market: it affects the customer experience, the staff workload and the compliance levels of the company. It's great that Brookson is integrating our product range so effectively, combining Validate Plus and Authenticate Pro to offer efficient and rapid validation of customer details and make the customer acquisition process less of a headache."

With more initiatives in the wings, Brookson is looking to significantly increase its customer base across all services lines and continue to improve the quality of service it provides to limited company, sole trader and umbrella company customers. The new Experian software will make the joining process more efficient while delivering a better joining experience for the customer.

About Brookson
Brookson is a leading tax accountant, IR35 specialist and support services provider to small business including business start ups. Brookson supports self employed people in their chosen way of working through its, sole trader and umbrella company services. As a 150 strong accountancy service, managing the affairs of over 9000 customers, Brookson is committed to offering the very best service, support and advice.

Brookson's Online Navigator Money Manager portal underpins Brookson's claim to offer one of the most innovative contractor accountant services available on the UK market. Allowing clients to access their business financial information 24/7, the system has been designed to help customers run their businesses more effectively by providing up to date financial information at their finger tips

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