Company Profile: illion
Background
Established in 1986, illion was a leading data and analytics company specializing in credit risk management and decisioning software solutions within the financial services industry. Operating primarily in Australia and New Zealand, illion provided a comprehensive suite of products covering the entire credit lifecycle, including lead generation, decisioning software, payment technologies, and tender management. The company's mission was to empower clients with intelligent decision-making tools and meticulously analyzed data, fostering long-standing relationships built on reliability and integrity.
Key Strategic Focus
Illion's strategic focus encompassed:
- Core Objectives: Enhancing credit risk assessment capabilities and delivering data-driven solutions to support informed decision-making across the financial sector.
- Areas of Specialization: Credit risk management, decisioning software, lead generation, payment technologies, and tender management.
- Key Technologies Utilized: Advanced data analytics, proprietary decisioning algorithms, and secure data storage and analysis systems.
- Primary Markets Targeted: Financial institutions, businesses requiring credit information, and consumers seeking credit-related insights.
Financials and Funding
In April 2024, Experian, a global data and technology company, acquired illion for A$820 million. This acquisition integrated illion's team, data, software, and intellectual property into Experian, aiming to enhance market choice and deliver powerful, data-driven solutions for businesses and consumers across Australia and New Zealand.
Pipeline Development
Prior to the acquisition, illion developed a range of products and services, including:
- Consumer Solutions: Credit Check for free online access to credit scores and Credit Report Ban for added security.
- Business Solutions: Business credit reports, credit risk tools, marketing and sales data services, decisioning software, payment technology solutions, and tender management tools.
Technological Platform and Innovation
Illion's technological platform featured:
- Proprietary Technologies: Advanced data analytics and decisioning algorithms tailored for credit risk assessment.
- Significant Scientific Methods: Utilization of comprehensive data registries and analytical models to provide insights into personal and business credit scores.
Leadership Team
Following the acquisition by Experian, the leadership team included:
- Andrew Black: CEO of Experian Australia and New Zealand, overseeing the strategic integration and growth plans.
- Cormac Dunne: CFO for Experian APAC, leading finance and strategic decision-making for the region.
- Merin Holland: COO at Experian A/NZ, overseeing operations across multiple industries and geographies.
- Richard Atkinson: Head of Fraud and Identity at Experian A/NZ, bringing over 30 years of experience in financial services.
- Steve Philpotts: Managing Director, Marketing Services for A/NZ, leading sales and business development teams.
- Danielle Fahey: National Account Manager, focusing on client relationships and tailored solutions.
- Craig Brooks: Director for Growth, Retention, and Corporate, building high-performance teams and driving business growth.
Competitor Profile
- Market Insights and Dynamics: The credit risk management and data analytics industry in Australia and New Zealand is competitive, with several key players offering similar services.
- Competitor Analysis: Key competitors include Equifax, Westpac, and Fair Go Finance.
- Strategic Collaborations and Partnerships: Illion's membership in the Dun & Bradstreet Worldwide Network allowed it to combine local knowledge with global data on more than 500 million businesses globally.
- Operational Insights: Illion's comprehensive data registries and analytical models provided valuable insights into personal and business credit scores, offering a competitive edge in the market.
Strategic Opportunities and Future Directions
Post-acquisition, the combined entity under Experian aims to:
- Expand Market Presence: Leverage combined data assets to enhance product and service capabilities, aligning with Experian's global strategy.
- Innovate Data-Driven Solutions: Integrate and optimize vast consumer and commercial credit risk data assets to offer bespoke solutions supporting new customer targeting, ID and company verification, risk assessment, exposure management, and collections optimization.
Contact Information
For more updates, follow Experian Asia Pacific on LinkedIn.
