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    EXPN   GB00B19NLV48

EXPERIAN PLC

(EXPN)
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Experian : Collaborates with 3 Indonesia to Boost Financial Inclusion...

09/09/2021 EDT

• Collaboration is timely amid the financial impact of COVID-19 on Indonesia's consumers, leaving low and middle-income communities, as well as small businesses particularly at risk • Telco data represents a rich, real-time source of alternative data that can help lenders make more accurate lending decisions in the absence of official bank data, representing a catalyst for the growth of a more responsible risk-based lending approach • Partnership with 3 Indonesia underscores Experian's innovative approach to leverage alternative data in collaboration with key partners such as 3 Indonesia, reaffirming its commitment to make credit fairer and more accessible for the Indonesian consumer

JAKARTA, 9 September 2021: Experian- a leading global information services company - today announced that it had entered a partnership with Indonesian telecommunications provider, PT. Hutchison 3 Indonesia (3 Indonesia), as part of its ongoing efforts to uplift financial inclusion across the archipelago. The collaboration sees 3 Indonesia becoming an alternative data partner to Experian's PowerScore, an advanced credit assessment approach that combines 'ready-to-use' alternative data with adaptive learning, providing lenders with telco-backed insights to facilitate credit risk decisioning.

Aimed at supporting traditional banks, alternative lenders and fintechs determine or mitigate credit risk, a key focus of PowerScore is to empower unbanked and underbanked communities with fairer access to credit, boosting financial inclusion efforts. As a key telco player in Indonesia, 3 Indonesia coming onboard as a partner expands Experian's market reach in-country at a timely moment, with the financial impact of COVID-19 continuing to reverberate throughout the economy. While significant progress has been made towards reducing economic inequalities, data from UNICEFindicates individuals living below the national poverty line, low and middle-income earners, as well as small businesses, could potentially face financial challenges due to a contracting economy and ongoing pandemic restrictions, potentially limiting their access to formal financial services and funds.

Experian is envisioning PowerScore, backed by alternative data sources from telcos as well as new digital touchpoints, to be the catalyst for a more responsible risk-based lending approach. Telco data from providers such as 3 Indonesia represents a rich, real-time source of alternative data that can help lenders make more accurate lending decisions.

'3 Indonesia strives to be more than a telecommunications provider and is constantly exploring avenues through which we can deliver meaningful impact to the communities we serve. Experian demonstrated a clear understanding of our requirements, with PowerScore having proven its analytics capability to deliver high quality insights with alternative data to make it possible for the lending ecosystem to reach more Indonesians. We also believe that 3 Indonesia capabilities to provide strong network coverage will help unbanked population to access growing numbers of financial services and products especially that are provided via mobile phone. Our network is available in more than 37,000 villages, 4,000 districts, and 377 regency in Sumatra, Kalimantan, Sulawesi, Java, Bali and Lombok. We are enthusiastic about our partnership with Experian as their data partner and look forward to deepening our collaboration in the coming years', said Dolly Susanto, Chief Marketing Officer Hutchison 3 Indonesia.

Based on the National Financial Literacy and Inclusion Survey by Financial Services Authority (OJK), Indonesia has made notable strides in financial inclusion, boosting the rate from approximately 50 per cent in 2017 to 76.1 per cent in 2019, an increase of almost 40 million individuals. In a population numbering more than 273 million, an unbanked community of 23.9 per cent remains significant. The Indonesian government recently shared a target of achieving financial inclusion levels of 90 per cent by 2024, viewing it as a cornerstone of economic growth and stability. The digital transformation that has spearheaded Indonesia's dominance as one of the region's biggest and fastest growing digital economies can create opportunities to close the financial accessibility gap with a technology-led approach.

'Experian PowerScore was designed to help make access to financial services more equitable and accessible with alternative data and is a solution highly relevant during this period rife with economic uncertainty. This collaboration with 3 Indonesia facilitates the growth of responsible risk-based lending that will provide individuals and businesses alike with much needed capital to support long-term, sustainable, economic recovery and growth across Indonesia,' said Mohan Jayaraman, Managing Director, Southeast Asia & Regional Innovation, Experian Asia Pacific. 'Supporting and boosting financial inclusion for Indonesia has been a key objective at Experian. Our latest endeavour with a like-minded partner reaffirms our continued commitment to this goal, working towards opening opportunity and upward mobility for the unbanked and underserved consumers.'

The latest partnership with 3 Indonesia represents Experian's second collaboration with Hutch's telecommunication entities. Experian previously collaborated with Hutch Sri Lanka in 2020 to offer dynamic airtime advances as the country entered a lockdown, helping subscribers adhere to movement and safety measures while staying connected.

For more information on Experian PowerScore, please visit https://www.experian.co.id/powerscore

(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 organizations to prevent identity fraud and crime.

We have 17,800 people operating across 44 countries, and every day we're investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.comor visit our global content hub at our global news blogfor the latest news and insights from the Group.

Disclaimer

Experian plc published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 09:31:00 UTC.


© Publicnow 2021
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