Experian has announced a renewal of its partnership with Nationwide Building Society for the provision of credit reference and electronic authentication services. The new three-year, multi-million pound contract cements the company as the primary credit bureau for Nationwide.

The building society will continue to use Experian’s Delphi for Customer Management (DCM) software, Delphi for New Business scores and Delphi Data Block - a set of credit variables enabling clients to help build bespoke scorecards using Experian data. In addition, Nationwide will verify, validate and authenticate customers’ identities, as well as prevent fraud through the company's online authentication services.

It will also migrate to ExPin, Experian’s new credit bureau platform. ExPin assigns every person a unique identifier PIN to reduce duplication and improve overall match rates and data quality. It also allows accurate data sets to be accumulated and analysed within seconds to create a comprehensive, up-to-date picture of a customer’s financial circumstances.

Iain Laing, chief risk officer at Nationwide, comments: “Our partnership with Experian will help us meet the responsibility we have as a mutual to our members by giving us greater control over assessing and managing credit risk which in turn will help us strengthen relationships with both new and existing customers. Our businesses are very much aligned and we see this partnership going from strength to strength in the future.”

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