Mumbai, July 5 (IBNS) Experian, the global information services company, hosted its first Annual India Conclave on Friday where it launched three new products.
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, 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.
Rajesh Kumar, Sr. Executive Vice President, Head, Debt Management, Risk Intelligence and Business Analytics, HDFC Bank said: "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. T
"his will be of great value to banks in ensuring the optimum customer experience while minimizing risks."
Rajesh Bansal, Assistant Director General, Unique Identification Authority of India (UIDAI) said: "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.
Anindo Mukherjee, Head of Risk Management, Fullerton Financial Holdings Pte Ltd., Singapore, said: "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.