Experian announced the formation of Experian Consumer Direct. The new division combines the operations of CreditExpert L.L.C., the company’s consumer credit management group and ConsumerInfo.com.
ConsumerInfo, acquired by Experian in April 2002, is the leading online provider of consumer-direct credit reports and other credit-related content. Ed Ojdana, founder and president of ConsumerInfo, will lead the combined organization, which will employ more than 200 people. CreditExpert and ConsumerInfo will continue as distinct brands in the marketplace. “A key element of our growth strategy involves distributing credit data and services directly to consumers, ideally in a membership format,” said Don Robert, Experian’s chief operating officer.
“We’ve long recognized that Ed Ojdana and his team at ConsumerInfo are the pre-eminent experts in the consumer-direct segment of the industry. This move, which leverages our strengths in such areas as brand management, distribution and servicing, underlines both our commitment to this business and our confidence in Ed’s leadership.”
CreditExpert, a wholly owned subsidiary of Experian, enables its members to put their own credit and other financial information to work for them with sophisticated analytical tools and comprehensive advice in an easy-to-use format to increase overall financial health.
ConsumerInfo’s success in this segment of the industry is evidenced by a variety of factors, including its recent rankings in studies released by the Online Publishers Association, the Intermarket Group and Jupiter Media Metrix and by recently achieving its one millionth member for its CreditCheck(R) Monitoring Service.
“Since its founding in 1995, ConsumerInfo has set the standard for consumer information delivery,” said Ojdana. “Combining the strengths of two of the industry’s leading consumer credit providers in this new venture is not only a win for both ConsumerInfo and Experian; it also is a win for the consumers we serve.”
ConsumerInfo.com gives consumers quick, easy and inexpensive access to their credit histories. Since its founding in 1995, the company has provided more than 5 million credit reports to U.S. consumers. Its Internet properties, which include CreditMatters.com, FreeCreditReport.com and QSpace.com, receive more than 10 million visitors monthly.
ConsumerInfo was the first U.S. company to offer consumers online access to single-bureau credit reports, three-bureau credit reports and lender-style credit scores. Its innovative three-bureau online credit report provides consumers access to their complete credit history from their Equifax (Nasdaq:EFX), Experian(R) and TransUnion files in seconds.
It is also the only report on the market that allows consumers to view their credit scores based on data from each of the three national credit bureaus. ConsumerInfo enjoys prominent co-branded partnerships with sites such as Yahoo!, Quicken, LendingTree, E-LOAN, Earthlink, MSN HomeAdvisor and other top Internet properties. ConsumerInfo is an Experian(R) company and part of GUS plc (London Stock Exchange:GUS.L).
Experian(R) 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, U.K. and Costa Mesa, Calif. Its 12,000 people support clients in more than 60 countries. Annual sales are approximately $1.5 billion.