Information services company Experian received authorization from the U.K.’s Financial Conduct Authority (FCA) recently. The Dublin, Ireland-based firm applied for full FCA authorization in February of 2016. Experian said that the year-long authorization process has helped it to “stress-test [its] risk management structures and the plans [it has] in place to ensure fair outcomes for [its] customers.”
The U.K. Financial Conduct Authority became responsible for regulating consumer credit agencies in 2014. Some of the activities that require FCA authorization, or permission, include:
- Credit broking
- Debt administration and debt collection
- Debt counseling and debt adjusting on a commercial basis
- Providing credit information services
- Providing credit reference agency services
- Peer-to-peer lending
Experian last demoed at FinovateFall 2012, where it debuted Premium Pre-qualification a credit-screening tool. Late last year, Management Today named Experian Britain’s Most Admired Company in the Business Support Services category. In November, American Banker ranked Experian among the top 100 fintech companies.