Experian has completed its $820 million acquisition of Illion, creating a duopoly in the market that supplies banks with the credit data they use to evaluate borrowers.
The CEO of the newly combined company says the deal, waved through by the ACCC in August, will create a deeper data set that will improve its software, which lenders use to manage credit risk.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
