Experian sets up Aussie credit bureau

5th May 2011 09:43

Credit checking firm Experian is setting up a credit bureau in Australia in collaboration with six of that country's financial institutions.The new bureau will enable lenders to assess risk and provide credit more efficiently and consistently, particularly in light of forthcoming plans to permit positive data sharing, which is currently under consideration by the Australian government. Experian will be responsible for the operations of the credit bureau and will own 76% of the entity. The following six financial institutions will own 24% of the venture: ANZ, Citibank, Commonwealth Bank of Australia, GE Capital, National Australia Bank and Westpac Banking Corporation. The joint venture builds on the financial sector relationships Experian has established in Australia through its Decision Analytics business, the group said. ---jh