UK Royal Mail in Experian deal to credit check post clients

Royal Mail is unveiling a major tie-up with Experian to allow the global information giant to check the credit-worthiness of its 420,000- plus business customer accounts.

The three-year contract, which includes an option to extend for a further two years, will enable Royal Mail to access Experian’s commercial credit reports online, to check customers before extending credit for a postage account. The credit records of limited and unlimited companies wishing to start new accounts can also be checked.

The service extends across the group, including the Post Office and Parcelforce Worldwide. Experian says it has been recognised as Royal Mail’s preferred supplier of business-to-business marketing information.

Sue Hinchliff, head of revenue management at Royal Mail, says: “Our customers range from high-street names to sole traders. So it’s important that we are able to credit check the entire range of businesses we work with. “Traditionally, not a lot of information was available on start-ups, or companies that don’t file accounts. With the raising of the audit threshold, even less information is available to make accurate credit decisions.”

Richard Lloyd, managing director of Experian’s business information division, comments: “Because we combine our business and consumer data to provide a more complete picture of small business and sole traders’ financial behaviour, our clients can count on us to provide more complete coverage of the business population.”