UK banking group HBOS has signed a five year contract, worth £40 million, with Experian for the supply of credit referencing and fraud detection services.
Under the contract, Experian will provide services right across the HBOS Group's major UK businesses, including Halifax, Bank of Scotland and Birmingham Midshires.
The contract incorporates third party data compliant credit bureau information, predictive scoring systems, authentication and fraud prevention tools and an automatic application processing system for the bank's business banking division.
Experian will also provide access to data services, including National Canvasse – a comprehensive direct marketing database of UK consumers.
David Walkden, head of risk, HBOS Retail, says: "Experian will be supporting an extensive range of HBOS's business activities, including mortgages, personal lending, consumer and business banking, credit cards and current accounts."