August 30, 2011

Experian launched Business Owner Background Report, a patent-pending service that combines Experian’s commercial data, consumer data, and proprietary technology to link business owners and principals to their current and previous business interests, identifying risks that may be overlooked with traditional risk-assessment tools.

“Business owners may have hidden risks that could affect the way their business meets its financial obligations, such as undisclosed financial commitments and previous fraudulent activity. In the current economy, it is more important than ever to identify these risks before they result in potential credit and fraud losses,” said Allen Anderson, president of Experian’s Business Information Services. “We developed the Business Owner Background Report product line to provide unprecedented visibility into a business owner’s relationships by combining our extensive consumer and commercial data assets with state-of-the-art analytics, enabling users to reduce credit risk and increase profitability.”

The Business Owner Background Report provides a comprehensive view of the business owner by identifying liabilities across all known business associations that may represent a credit risk. The report includes the time frame of the individual’s association with the business and the financial condition of each of the business owners’ current affiliations.

Additionally, Business Owner Background Report assists users in reducing fraud by verifying application information, validating that an applicant is an authorized representative of a business, identifying suspicious activity associated with the owner’s consumer credit file, and revealing associations with individuals and businesses that may have been associated with fraud losses in the past.

Business Owner Background Reports are available in three different formats that include varying levels of detail to meet specific business needs. All three Business Owner Background Reports are available online through BusinessIQSM, as well as through direct integration methods, including CPU-to-CPU and XML delivery. Basic linkage reports are also available via traditional batch delivery.


http://press.experian.com/United-States/Press-Release/experian-launches-service-to-increase-visibility-of-potential-fraud-and-identify-hidden.aspx