KUALA LUMPUR: Pertama Digital Bhd (PDB) signed a memorandum of understanding with Experian Information Services (Malaysia) Sdn Bhd on a partnership to jointly develop alternative credit scoring solutions.
PDB director of strategy Saify Akhtar said being able to leverage on Experian's credit reporting and data analytics expertise will be a massive boost to advancing this mission.
Experian is a leading global information services company, providing data and analytical tools to clients around the world.
For more than 125 years, it has been gathering, analysing and processing data in unique ways to help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
Experian has 17,800 people operating across 44 countries and is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 Index.
Experian chief executive officer Dawn Lai said with new, non-traditional sources of real-time credit data emerging with the accelerating digital economy, the company want to empower lenders and more importantly Malaysian consumers to effectively harness the value these data sources provide in unlocking access to credit.
"These insights will help lenders, like PDB, to expand their credit universe, better identify customers, determine an applicant's ability to pay, and verify identity while mitigating risk.
"Alternative data has a key role to play in providing real-time insights to generate a new breed of credit scoring.
"Ultimately, this will enrich decisions across the entire credit spectrum and drive greater access to credit for Malaysian consumers and growth for lenders through more informed lending decisions," she said.