SBI signs up as Experian Credit Bureau member

Mumbai: The domestic arm of the Irish credit information service provider Experian today said the State Bank of India has signed up as its member.

Almost all the leading banks including SBI and financial institutions already subscribe to the credit data from other credit bureau called Cibil (Credit Information Bureau of India), the first such organisation in the country.

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“The State Bank is the largest lender and the addition of its credit data will further increase the Experian’’s data coverage and enhance the effectiveness of our range of products and services,” Experian Credit Information Company of India said in a release.

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“We are pleased to be a member of Experian. We believe this membership will help better leverage the multi-bureau environment and enable us to better use data and analytics, and also manage credit risk and leverage our opportunities better,” SBI Chief General Manager Pardeep K Khosla said.

The London Stock Exchange-listed Experian provides data and analytical tools to clients in over 80 countries and had a revenue of $ 4.2 billion for the year ended March 2011. It employs around 15,000 people in 41 countries and is headquartered in Dublin, Ireland.

PTI