Experian Launches First Daily Cross-Sell Portfolio Management Solution for Financial Services Companies

Experian®, a global information solutions company, today introduced Cross-Sell Triggers, the first fully compliant daily cross-sell campaign capability that enables lenders to quickly identify and respond appropriately to credit active customers in their portfolios.

The new solution allows users to identify credit-related activity initiated by their customers on a daily basis then respond by sending firm offers of credit within just 24 hours of notification — days quicker than the previous industry standard.

“Managing a profitable portfolio is about managing customer relationships,” said Richard Lombardi, director of marketing, Experian Information Solutions. “Our clients need to continually nurture and grow customer relationships by making the right offer at the right time. By doing so they can increase customer retention rates and keep the competition from getting a foot in the door.”

Key features include the use of daily inquiry and trade triggers to identify highly responsive, credit-active customers seeking additional credit products to meet their needs. Using credit scoring models and attributes, Experian clients can further refine retention efforts to meet the needs of their most profitable customers. The process, which is fully compliant with the federal Fair Credit Reporting Act (FCRA), includes running all triggered consumers through Experian’s “Do Not Solicit” database to ensure appropriate consumers receive offers of credit. Cross-Sell Triggers has the additional capability of running multiple campaigns simultaneously.

“Cross-Sell Triggers is the next generation in triggering technology and will change the way our financial institutions manage their portfolios,” said Lombardi.

About Experian
Experian® enables organizations to find the best prospects and make fast, informed decisions to improve and personalize relationships with their customers. It does this by combining sophisticated and intelligent decision-making software and systems with some of the world’s most comprehensive databases of information on consumers, businesses, motor vehicles and property. Through multichannel delivery of its Web-based products and services, Experian enables its clients to conduct secure and profitable e-business and develop state-of-the-art Customer Relationship Management (CRM) systems for communicating and building relationships with customers. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, Calif. Its 12,000 people support clients in more than 60 countries. Annual sales are approximately $1.5 billion.