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Stroud and Swindon Building Society improves mortgage efficiencies with Experian

Experian^®, the global information services company, today announced that it has signed a contract with Stroud & Swindon Building Society (SSBS) for the implementation of its Mortgage Sales and Originations (MSO) technology. The system will be provided by N4 Solutions (N4), an Experian^® company and one of the UK's leading providers of multi-channel distribution and fulfilment technology for mortgages and wealth management.

Experian’s innovative MSO technology will provide SSBS with a single unified system for mortgage sales across all channels. The effect will be a seamless experience for both customers and SSBS staff, whilst reducing costs by utilising a number of automated processes. The implementation will also include a suite of complementary Experian products and services to facilitate automated decisioning, customer identification and fraud prevention.

"The ability to complete and receive applications electronically will significantly speed up the application process and allow us to reduce both administrative and operational costs," said Keith Henley, senior manager of Business & Information Systems at Stroud & Swindon Building Society. "In the current economic climate, providing an efficient and consistent mortgage processing system is fundamental to the Society’s lending strategy."

"The main reason Experian acquired N4 was to deliver a unique offering for UK Mortgage lenders using fully optimised sales and originations processes." said Gary Muchmore, Sales Director of N4 Solutions. "Since the acquisition we have been working hard to bring our integrated proposition to market and are extremely pleased that SSBS have decided to implement the N4 Experian platform across all of their distribution channels."

About Experian

Experian^® is a global leader in providing information, analytical and marketing services to organisations 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 organisations 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 organisations from financial services, retail and catalogue, 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, California and Nottingham, UK. Experian employs approximately 15,500 people in 38 countries worldwide, supporting clients in over 65 countries around the world. Continuing sales for the year ended 31 March 2008 were $4,059m (£2,020m / €2,858m)

For more information, visit the Group’s website on www.experianplc.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.

About N4 Solutions

N4 Solutions (N4) is one of the UK's leading providers of multi-channel sales and originations technology for mortgages and wealth management.

The company’s mortgage sales and origination platform provides a comprehensive and highly configurable solution for automating the mortgage process from initial contact through to completion. The 2007 acquisition of N4 by Experian brought an unparalleled capability to the market.

The combined unit leverages N4’s vertical market knowledge with Experian’s market-leading expertise and products in application processing, decision analytics, lead generation and customer data models, which enable organisations to make key business decisions about targeting, acquiring and retaining profitable customers.

The offering supports multi-channel distribution from a single platform. A typical implementation would see an incremental deployment of components across the channels. Furthermore, the system is designed to be integrated easily with existing enterprise systems to deliver straight-through processing to clients’ existing back-end servicing systems.

N4 has an enviable track record of successful project delivery with clients including major banks, building societies and adviser networks.

For more information, visit www.n4s.co.uk

About Stroud & Swindon Building Society

Established in 1850, Stroud & Swindon is the 15th largest building society in the UK with assets in excess of £3.2 billion. With a Head Office in Stroud, Gloucestershire, it operates through a network of 22 branches and 20 agencies situated throughout the South West complemented by a Customer Contact Centre in Gloucester and website www.stroudandswindon.co.uk.