Experian partners with Global Data Consortium to bolster international customer identity verification

New solution provides comprehensive package for clients with global customer bases to quickly and efficiently confirm identity

RALEIGH,North Carolina,July 16,2020 --Experian and identity verification provider Global Data Consortium (GDC) have today announced a new partnership which will transform customer onboarding journeys for both international and new-to-country customers.

The agreement enables Experian clients to onboard customers rapidly,as well as strengthening anti-fraud measures and meeting Know Your Customer (KYC) and Anti Money Laundering (AML) compliance requirements.

By harnessing GDC's global network of Consortium Members sourced from more than 50 countries around the world,clients are able to leverage their insights in order to accurately confirm the identity of customers who are based abroad. The solution will also assist individuals who are new to a country but are unable to access financial services,such as a bank account,because the financial provider lacks the necessary information to approve the application.

Creating a seamless onboarding process and authenticating a person's identity is a priority for many businesses. Yet Experian research found 70% struggle to confirm identity without it impacting the customer journey,and 53% only have a 'medium-level' of certainty when identifying customers.

By confirming identity quickly and efficiently,businesses can act with confidence they are onboarding legitimate customers,increasing their level of acceptance and boosting revenue and growth.

Micah Willbrand,Managing Director of Identity and Fraud,Experian,said: "With Covid-19 increasing the rate of digital transformation,it's critical businesses of all shapes and sizes are confident that their customers are who they say they are,and at the same time create as frictionless an experience as possible.

"Working with GDC and their market-leading coverage,clients now have the ability to onboard and verify customers in a seamless,integrated way,giving them the assurance they need the individual is genuine and suitable for the products they offer."

William Spruill,President of Global Data Consortium,said: "We're extremely excited at the opportunity to partner with Experian and their CrossCore ecosystem.

"The combination of GDC's local data sources and Experian's global reach and expertise has been brought to bear in a global-API and will produce compelling outcomes for customers around the world."

GDC delivers identity verification for global businesses,providing a single access point via its cloud-based platform. Its data sets are based on a myriad of sources,including electoral roll and census information,utility and telecoms data,and credit information.

GDC data will be incorporated into Experian's CrossCore International Identity Verification service,giving organisations compliance-approved fraud and identity systems in one open based platform.

Experian is a market leader in identity verification and fraud prevention. For more information visit https://www.experian.co.uk/business/identity-fraud/

About Experian

Experian is the world's leading global information services company. During life's big moments – from buying a home or a car,to sending a child to college,to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services,businesses to make smarter decisions and thrive,lenders to lend more responsibly,and organisationsto prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we're investing in new technologies,talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

About Global Data Consortium

Global Data Consortium is the industry leader in electronic identity verification. Whether leveraging reliable and independent data sources in established financial markets or reaching deep into emerging markets for alternative data sources,we help bridge the gap between consumer financial journeys and financial service provider compliance requirements. We believe in the balance between preventing identity crimes and providing a seamless verification process,which we accomplish by leveraging local partnerships and expertise through a single-API.

GDC is headquartered in Raleigh,NC,USA with employees in five countries and partners in over 50 countries.

Learn more at www.globaldataconsortium.com.