Experian Credit Services

Loan services Experian

Notice of Experian's introduction of real-time credit lending exchange services.....

Experian, the leading provider of information services, today unveiled the introduction of RTDS (Real Times Date Sharing) - a new feature that gives creditors across the UK immediate insight into personally identifiable information that enables them to make honest and informed credit allocation choices. It has been designed in reaction to the growing need for short-term credit, which has also raised the challenges for all credit institutions, as well as major creditors, utility and telecommunication operators, to fully comprehend the type of debts a given individual has and to be able to make sure they are fairly handled.

Through the RTDS services, Experian will increase the frequency with which its Credit Account Information Scheme (CAIS) - one of the UK's biggest information resources on people's credit approvals - provides information on short-term credit. As well as taking into account the needs of the short-term credit industry for a real-time perspective on an individual's credit obligations, the new services will give all other creditors, whether short-term or not, greater visibility to this more resilient image.

Mr Paul Vescovi, managing director of Experian's Credit Services in the UK and Ireland, said: "Ensuring that individuals are fairly handled and shielded from growing indebtedness requires that all UK creditors be able to fully comprehend what kind of pressure a individual is exerting elsewhere in their life.

It will be the first new real-time information system to provide immediate information and has been greeted by all kinds of creditors. "Now we are working with a number of short-term creditors to allow them to divide their information in Real Times, and we are encouraging all short-term creditors to join the system."

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