Experian said that Indian financial institutions Axis Bank and ICICI Bank have already signed up to the Hunter, which is a hosted and pay-as-you-use service.
Experian said that Hunter service enables the early detection of potentially fraudulent applications and helps identify fraud rings.
The most effective strategy is to prevent the fraud at the point of application and Hunter achieves this without affecting customer service levels and turnaround times.
Experian managing director and country manager in India Vikram Narayan said Hunter is another leading global Experian product for India and it complements our Credit Information Services in the country.
"This ground-breaking new service will allow financial institutions to better manage the risk and reward of their commercial decisions.
"We have conducted Proofs of Concept at many leading public and private sector banks and the results have been extremely encouraging and present a compelling return on investment," Narayan said.
