Decision comes as clients take credit services in-house
Credit checking company Experian, owned by retail conglomerate GUS, is to withdraw from large-scale credit card and loan processing in the UK.
Experian provides account processing services to a number of large credit card, store card and loan providers. The decision was prompted by big clients beginning to take such services in-house because their businesses are expanding.
Withdrawal will be gradual and Experian will continue to service existing projects until Autumn 2009. The cost of the withdrawal is estimated at£15 million.
The UK business accounts amount to less than 3 per cent of Experian's revenue. The company will continue to expand its account processing business in other countries, including France and Germany.
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