HBOS, the UK's largest mortgage and savings provider, has announced a renewal of its contract with Experian, the global information services company as a leading supplier of its credit reference and analytics services.
The move, involving a substantial investment over the next five years, will provide the HBOS Group operations in the UK and Ireland with access to Experian's data and value added services.
As part of the contract, HBOS will roll out a package of Experian products and services to better manage customer acquisition and associated risk, identify and prevent fraud, and help the bank to more accurately match its excellent product range to customer need.
"This deal is a consolidation of our agreement and is a symbol of the success of our long-running partnership," said Nick Robinson, Head of Retail Risk at HBOS. "We chose a selection of tools from Experian on the basis of their data breadth and quality combined with an impressive record of product innovation."
"We are delighted to have the opportunity to continue our relationship with HBOS," said Steve Kilmister, Managing Director of Experian's Consumer Business. "Working closely with HBOS enables us to use our analytical capabilities and powerful information resources to help improve HBOS' risk decisioning and its ability to bring new products to market faster than ever before."