Experian, an information services company, has signed an agreement with HSBC to help integrate the bank’s access to external data sources around the world.
Starting in Asia, Experian’s Connect+ data integration software will be used by HSBC to enable access, consolidation and aggregation of data from multiple sources, including credit bureaus and other third party data providers.
The service is currently supporting HSBC’s Personal Financial Services business in Malaysia with rollout planned for three more countries in Asia. Following a successful rollout in Asia, the software will then be available to support HSBC operations in specific regions around the world, Experian said.
The company said that the common interface created by Connect+ will enable HSBC to enhance its third party data access. Connect+ will be used the bank in determining and accessing relevant sources of credit information. The software will then gather data, aggregate it into a consistent format and return it to HSBC.
Chris Hawkes, global head of retail credit risk at HSBC, said: "Experian is a key strategic partner for HSBC. Its innovative data and analytics are important components of our One HSBC initiative. This initiative is helping us to achieve global standardization around our risk management processes, obtain greater efficiencies and improve the customer experience we are able to offer."
