12 Apr 2005 17:12

Experian-Interfax Bureau of Credit Histories is ready for operations

Experian, a leading global information solutions company, and Interfax Information Services Group, Russia‘s leading provider of information and services to the financial market, have announced that the credit bureau that they have jointly formed in Russia is ready to start operations and is beginning to connect banks and other lenders to the system.

All joint venture agreements have been signed between Experian and Interfax.
About 20 banks and lenders have so far agreed to co-operate with Experian Interfax Bureau of Credit Histories including International Moscow Bank, Raiffeisen Bank, Baltiyskiy Bank, Bank Vozrozhdeniye, International Industrial Bank etc.
"Experian-Interfax is the first major operator to offer credit bureau services in Russia and the first major International player to operate here in Russia, said Experian International‘s CEO, John Saunders. We are happy that our project is developing well in Russia and that the Experian-Interfax system will be ready for launch on-time with the Law on Credit Bureau coming into effect in June. We are excited and encouraged by the fact that about 20 banks and companies are already cooperating with us. Our next steps are to finalize the contracts with banks and to complete technical connections to our clients over the next few months".
"The parties have implemented all of their agreements that deal with investment and legal relationships between Experian Interfax and its founders, each having a 50% stake in the project. A credit bureau, established jointly with a global leader in this business sector, Experian-Interfax has given Russian banks and companies access to well-tested, reliable and convenient technical solutions, tried out on the markets of over 60 countries," said Interfax Group Chairman Mikhail Komissar.
Experian-Interfax, set up in late 2004, was the first company to create and test an all-Russia-level credit bureau system.
The bureau is at the final stage of installing a technical center in Moscow, intended to deal with clients all over Russia and using Experian‘s information protection know-how.
Experian Interfax is operating in compliance with the Law on Credit Histories and is prepared to cooperate with all organizations interested in promoting the development of the credit bureau institution and in protecting consumers‘ rights.
*** Experian is a global leader in providing information solutions to organisations and consumers. It helps organisations find, develop and manage profitable customer relationships by providing information, decision-making solutions and processing services. It empowers consumers to understand, manage and protect their personal information and assets.
Experian works with more than 40,000 clients across diverse industries, including financial services, telecommunications, healthcare, insurance, retail and catalogue, automotive, manufacturing, leisure, utilities, property, e-commerce and government. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, California. Its 13,000 people support clients in more than 60 countries. Annual sales exceed £1.3 billion.
Experian already owns and operates credit bureaux in 11 international markets, including the UK and the US.
For more information, visit the company‘s web site on www.experian.com.
*** Interfax Information Services Group provides news and other information products that are essential for decision-makers in politics and business. Since early 1990s, Interfax has been the main provider of up-to-date news from Russia and countries of the former Soviet Union. Over the past few years, Interfax has also become a leading provider of political and business news from China and emerging markets of Central Europe.
A network of about 30 companies operates under the Interfax brand all over Russia, the CIS, China and several Central European countries. The Group publishes news in Russian, English, Ukrainian, Kazakh, and German languages and provides about 100 specialized services.
Apart of news we offer a number of unique information products based on the state-of-the-art technologies. Among them SPARK, the System for Professional Analysis of Markets and Companies, Russia‘s largest and most comprehensive database on companies. Interfax Group produces company news, industry analysis and ratings, cooperating in this field with largest brands of the information industry. For example Moody‘s Investors Service is our partner in Moody‘s Interfax Rating Agency, which provides indispensable information for banks and investors reaching out to Russia‘s markets.
For more information, visit the Interfax‘s web site on www.interfax.com.