from DSSResources.comExperian's Fast Start(SM) scoring model brings bottom-line improvements to Sharonview Federal Credit UnionCOSTA MESA, Calif., Nov. 13, 2006 -- Experian Group Limited (LSE: EXPN), a global information solutions provider, today announced that Sharonview Federal Credit Union's implementation of its Fast Start(SM) scoring model has resulted in significant bottom-line improvements. Since the integration of Fast Start in 2002, Sharonview Federal Credit Union has realized an 81 percent reduction in both 60-day past due and charge off accounts while experiencing a 12 percent increase in the overall number of loans approved. "Since implementing the Fast Start model, we've automated 70 percent of our lending decisions," said F. Michael Sisk, vice president of Lending, Sharonview Federal Credit Union. "We've been able to improve customer service and improve our balance sheet by making smarter application decisions more quickly." Fast Start is a highly predictive generic scorecard solution that combines industry-specific models with credit risk support and expert consulting services. Through implementation of the Fast Start system, institutions can benefit from new applicant scoring models designed for their specific industries. The models are created using pooled data, predictive characteristics and point values. The resulting models can automate and speed up the decisioning process and can be utilized in the absence of in-house historical data. "Fast Start is the answer for any credit union that demands a precise and responsive decision solution," said Gary Kearns, president, Experian Decision Analytics. "Working with our clients, such as Sharonview Federal Credit Union, to achieve their productivity targets is our goal." About Sharonview Federal Credit Union Sharonview Federal Credit Union is a not-for-profit, financial cooperative providing a full array of products and services including lower-rate loans, above-market savings and many no or low-cost services to satisfy the diverse financial needs of over 57,000 members comprised from more than 250 sponsor companies across North Carolina, South Carolina and New Jersey. Founded in 1955 with $11,000 in assts, the credit union has grown to $800 million based on the underlying principle of exceeding member expectations. About Experian Experian(R) is a global leader in providing analytical and information services to organizations and consumers to help manage the risk and reward of commercial and financial decisions. Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage. For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors. Experian Group Limited is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. It has corporate headquarters in Dublin, Ireland, and operational headquarters in Costa Mesa, Calif., and Nottingham, UK. Experian employs more than 12,500 people in 32 countries worldwide, supporting clients in more than 60 countries. Annual sales are in excess of $3.1 billion. For more information, visit the Group's Web site at http://www.experiangroup.com. The word "Experian" is a registered trademark in the EU and other countries and is owned by Experian Ltd. and/or its associated companies. Contact: Cynthia Baker Experian Public Relations 714 830 7907 cynthia.baker@experian.com |