The new entity combines the strength of Experian’s global expertise in enterprise-wide solutions and MCI’s local knowledge and experience. It will provide consultancy, tools, systems and services to help clients make better decisions about credit risk, fraud prevention and account management.

“When companies are able to make consistent, high-quality and efficient decisions about credit arrangements with new and existing customers, they improve profitability
and customer service. EDAK is ideally placed to deliver the advanced, customized services that companies need to make these decisions and thrive in Korea’s rapidly changing financial market,” said Charles Chung, Managing Director, Experian Decision Analytics, Asia Pacific.

“As a global leader, Experian is fully committed to using its expertise and experience to contribute to the development of the credit management industry in Korea.”
Korea is experiencing robust economic growth, with gross domestic product up 4.9 percent in the three months ended June 30, 2007, compared with the same period last year. This expansion is expected to continue through next year, fuelling demand for consumer credit.

The experience and expertise that EDAK brings to this challenging and fast-changing environment will accelerate the availability of highly customized and advanced credit management services for leaders in the financial services sector in Korea and extend these solutions to new market segments, including telecommunications service providers, insurance firms and small banks. EDAK will help all of these clients establish strategies and build the infrastructures needed to manage their customers more effectively and profitably.

With Experian as its majority shareholder, EDAK has full access to Experian’s best-in-class products and services, new innovations and unrivalled knowledge base. The new firm already has a strong team of local management and staff with in-depth knowledge of Experian products and services, as well as a thorough understanding of the business needs of the Korean market. This experienced team is also able to draw on the resources of Experian’s network of offices in 36 countries, giving it access to some of the industry’s leading experts around the world.

Jung Kwang Soo, President, MCI, commented: “EDAK extends a successful six-year strategic partnership between MCI and Experian. It confirms our commitment to our current clients and is an assurance that we will strive to help them—and new clients—reach new levels of profitability.”

Experian and MCI have been partners since 2001, providing credit evaluation systems and consulting services to six of the top seven retail banks in Korea, as well as the nation’s leading credit card and insurance firms. The partners have earned the trust of the Korean financial services sector, assisting Korea’s retail banks through the credit crisis of 2004 and helping them to continually strengthen their risk management capabilities.

EXPERIAN