Mumbai :Experian, the world leader in information services, is further expanding and investing in its innovation facility, Experian X Labs based in Singapore. The facility serves as Experian’s first incubator and collaboration centre for cutting-edge solutions, aimed at addressing pressing economic and societal issues in the India, such as financial inclusion. The Experian X Labs team, comprises of data scientists, product architects and industry innovators.

Mohan Jayaraman, Regional Managing Director, Decision Analytics and Business Information Services at Experian Asia Pacific, said: “Responsible innovation is the driving force behind our work at Experian. Matching major societal issues with localised solutions, the data science and technology experts at Experian X Labs are tapping on data generated from alternative sources to provide valuable insights into a person’s credit worthiness. Data generated through the region’s rapidly growing internet penetration and mobile usage rates, for example, can help build financial identities for Asia’s unbanked. In the Indian context, this also translates into harnessing various initiatives in the India tech stack and the vibrant data economy to look at opportunities for boosting financial inclusion.”

Experian X Labs provides the organisation with a platform to collaborate with start-ups, fintech providers, related businesses and academic institutions in the region. The team is also working to seed and develop APAC-wide solutions aligned with Experian’s core areas of expertise around financial inclusion, digital payments and consumer enablement through advanced data analytics, research and development. In addition to developing innovative technology solutions, the Experian X Labs will continue to play a central role in Experian’s efforts to build digital financial marketplaces in the region, better matching financial solutions with people who need them.