Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Experian plc    EXPN   GB00B19NLV48

EXPERIAN PLC

(EXPN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Experian : A/NZ acquires Australian fintech Look Who's Charging to bo...

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/21/2019 | 05:18am EST

Sydney, 21 August 2019:Experian Australia & New Zealandtoday announces its acquisition of Look Who's Charging, the Australian fintech startup which has solved the everyday frustrating problem of unrecognised bank transactions by providing instant clarification on the merchant behind a transaction.

Look Who's Charging is integrated with a number of Australian banks, with their data available to millions of Australians directly within existing digital banking applications.

The move will combine Experian's global open data solutions with Look Who's Charging's advanced enrichment capabilities. Following the recent legislation of Open Banking as the first stage of the Consumer Data Right (CDR), the deal will create a market leading open data platform in the Australian market that will have wide ranging benefits for consumers, businesses and financial institutions.

Experian's present open data solution, built in the UK, facilitates 40% of all UK Open Banking application program interface (API) requests.

Andrew Black, Managing Director of Experian A/NZ explains how the acquisition enables Experian to provide organisations with a sophisticated aggregation and categorisation solution and granular insights for them to apply across their business:

'If a transaction is unable to be categorised accurately, it is often classed as 'unknown' which can result in decisions impacting consumers being based on limited data. This can have a big knock on effect if, for example, banks are using one platform to help a customer understand their own income and expenditure, and another to decide what loan they can afford.

With Look Who's Charging's enriched data integrated into our open data platform, we will be able to provide a uniquely accurate and comprehensive solution for the Australian market. This will help our customers lend more responsibly while enhancing their fraud checks and reducing their call centre traffic for unrecognised transaction queries, as well as ensuring consumers have a greater understanding of their financial situation.'

Over 1 billion transactions are enriched every single month through Look Who's Charging's platform to provide Australian consumers complete clarity on their spending.

'Look Who's Charging's forward-looking and problem-solving nature is aligned with our business and approach to innovation,' adds Mr Black. 'We share the aim to help businesses and consumers make better and more informed decisions, and we are delighted to be working with a company who is truly having a positive impact on not only our financial services industry but Australian consumers too.'

Ben Elliott, CEO of Experian APAC commented: 'The acquisition - our sixth investment in Asia Pacific since 2017 (following venture investments in Grab, Jirnexu, C88 Financial Technologies, BankBazaar.com and CompareAsiaGroup) - demonstrates our ongoing commitment to investing in this region and using our advanced data and analytics expertise to remove complexity from the lending process. Bringing Look Who's Charging and our innovative solutions together will help Australian organisations, and ultimately consumers, as Open Banking standards are adopted in Australia.'

Founder of Look Who's Charging, Stuart Grover, said: 'We are extremely excited to combine the technology and data we have built to support the Australian banks with Experian's market leading open data technology. We are very proud to have built Look Who's Charging from an idea, born from the frustration of unrecognised transactions to a product which helps millions of Australian consumers, in under 4 years.

With Experian's scale, we have an opportunity to help solve more of the immediate problems faced by Australian consumers and financial institutions, whilst the Look Who's Charging solution is also rolled out to other key markets around the world.'

ENDS

About Experian

Experian is the world's leading global information services company. During life's big moments - from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers - we empower consumers and our clients to manage their data with confidence. We 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.

We have 17,200 people operating across 44 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index. Learn more at experianplc.comor visit our global content hub at our global news blogfor the latest news and insights from the Group.

About Look Who's Charging

Look Who's Charging has developed a multi-award winning data platform that provides comprehensive and meaningful information on bank statement transactions. The platform has a wide range of use cases from providing consumers and businesses with clarity on their spend to improving decision making and reducing costs for financial institutions through efficiencies in the loan application process.

Since launching in 2016 Look Who's Charging has completed integrations with a number of large financial institutions and its data is utilised by millions of Australians. Look Who's Charging has built a team of highly skilled individuals with deep expertise in machine learning and AI. Further information can be found at Look Who's Charging.

Disclaimer

The information contained in this release is for general guidance on matters of interest only and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should consider the appropriateness of the information, having regard to their objectives, financial situation and needs and, if necessary, seek appropriate professional advice. The changing nature of laws, regulations and rules, and of economic trends and the variables impacting them across different geographies, may mean it contains some omissions or inaccuracies. The information given is provided 'as is', and without warranty of any kind, express or implied, including, but not limited to warranty of fitness for a particular purpose. It is not intended to represent legal, credit risk, economic or other professional advice. In no event will Experian or its related partnerships or corporations, or its partners, agents or employees be liable to you or anyone else for any decision made or action taken in reliance on the information in this report or for any consequential, special or similar damages.

Disclaimer

Experian plc published this content on 21 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2019 09:17:09 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EXPERIAN PLC
01/22EXPERIAN : Additional Listing
PU
01/21EXPERIAN : North America's Inclusive Workplace Culture Recognized with Prestigio..
PR
01/21SRAX : and Experian Team Up to Offer Financial Services to BIGtoken Users
PR
01/17Data firm Experian revenue rises on strong B2B market
RE
01/17Experian 3Q Organic Revenue Grew 7%, Backs Full-Year Guidance
DJ
01/17EXPERIAN : Trading update, Third quarter
PU
01/17EXPERIAN : Trading update, Third quarter
PU
01/17EXPERIAN PLC : 3rd quarter results
CO
01/10EXPERIAN : First interim dividend
PU
01/02EXPERIAN PLC : Ex-dividend day for interim dividend
FA
More news
Financials (USD)
Sales 2020 5 187 M
EBIT 2020 1 393 M
Net income 2020 836 M
Debt 2020 3 705 M
Yield 2020 1,39%
P/E ratio 2020 37,4x
P/E ratio 2021 33,0x
EV / Sales2020 6,80x
EV / Sales2021 6,24x
Capitalization 31 562 M
Chart EXPERIAN PLC
Duration : Period :
Experian plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EXPERIAN PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 34,20  $
Last Close Price 34,75  $
Spread / Highest target 23,3%
Spread / Average Target -1,59%
Spread / Lowest Target -21,5%
EPS Revisions
Managers
NameTitle
Brian Jude Cassin Chief Executive Officer & Executive Director
Michael John Rogers Chairman
Kerry L. Williams Chief Operating Officer & Director
Lloyd Mark Pitchford Chief Financial Officer & Director
Barry J. Libenson Chief Information Officer
Sector and Competitors