Global information services giant Experian has launched its first consumer credit bureau in Australia, providing credit reports to financial institutions, telecommunication and utility providers.

Experian’s breakthrough into the Australian market is in parts thanks to the Privacy Amendments (Enhancing Privacy Protection) Bill passing Parliament last November. “We are bringing a world-class bureau service to the Australian market,” said Genevieve Juillard, Managing Director, Experian Credit Services, Australia. “The new positive data legislation is excellent news for the industry.  It will completely transform the way businesses in Australia grant and manage credit because they will have access to more information allowing them to better assess risk and promote responsible lending.”

Experian’s consumer bureau is the first in a host of credit services planned for launch in Australia in 2013.

Six major Australian financial institutions will hold a minority stake in the new company as joint venture partners. As the majority stakeholder, Experian is responsible for the operations of the credit bureau.