Page 4: The boom in the economy/e-commerce
Consumer spending is often used as an indicator of how well the economy is doing. Credit is a key factor in fuelling an economic boom. A consumer's willingness to take on credit depends on his or her confidence in their ability to repay the money. This confidence comes in part from job stability and faith in the economy. A boom in consumer spending will mean that there is an increase in the number of credit checks lenders make through Experian. The performance of the economy does not directly affect how many people ask Experian for a copy of their credit report.
Communication and information technology is a core part of Experian's business. There have been major communication advances since Experian's UK CRA was set up in 1980. The way Experian collects and updates credit report information has changed dramatically, moving from paper-based communications to computer disks and online updates. Faster online systems allow lenders to update information directly, meaning that information is more accurate and saving Experian time and money.