Experian Opens New Office in Bangkok to Accelerate Thailand Expansion
- 2019 marks the fifth year of Experian’s incorporation in Thailand, with an office move to Singha Complex in the heart of the city centre
- Experian Thailand is one of the fastest-growing markets for Experian in Southeast Asia, with its Thai team doubling in the past two years
- Experian’s key customers in Thailand include major banking and financial services institutions and telcos, such as TMB Bank
- Experian plans to double its headcount in Thailand within the next 12 months, with a growing digital economy and opportunities in the banking and telco space
BANGKOK, THAILAND, 15 March 2019 – Experian, the world leader in information services, today announced that it has opened its new Thailand office at Singha Complex in Bangkok. This is the first time Experian Thailand is operating from its own office space in Thailand and marks the company’s strong growth since its incorporation in Thailand in 2015.
Located on the 19th floor of the newly completed Grade A office tower, the complex is part of the luxury mixed-used development at the Asoke – Phetchaburi intersection in the heart of the city centre. The new Experian office will feature state-of-the-art conference facilities, cutting edge collaboration and productivity tools, in line with other world-class Experian offices globally. It will also enable Experian to be closer to their current and potential clients, as well as have facilities to conduct workshops and seminars for partners in the financial services and telecommunications industry.
Since 2015, Experian has doubled its staff strength to a team of 15 full-time employees covering sales, technical and project management today. As with all Experian team members worldwide, there is a focus in recruiting, investing in and developing the Thai team at Experian Thailand, to serve local business needs with local expertise and capabilities backed by Experian’s global insights.
Experian currently serves more than 20 customers in Thailand including major telcos, financial services, banking and insurance institutions. Experian Thailand offers a range of products and solutions such as Credit Services, Decisioning & Analytics, Data Quality, and consultancy services. This includes Experian’s flagship credit decisioning management system PowerCurve, which is used by major banks to improve credit assessment and risk management processes through using via a single platform.
Ben Elliott, Chief Executive Officer, Experian Asia Pacific said, “We are proud of the success of our Experian Thailand colleagues and their new office move. Experian has expanded tremendously across Asia Pacific over the past five years, particularly in Southeast Asia, with our Decisioning & Analytics and consultancy services being the key drivers of growth. Our growth in Thailand mirrors this trend and is today a key market for us in the region. With our expanding team, we continue to focus on making a positive impact in our society to create a better future for both businesses and consumers alike. We remain fully committed to investing and expanding our business regionally.”
Asia Pacific is the fastest growing region for Experian by revenue with most of the growth being driven from Southeast Asia. Over the past few years, Experian has invested heavily in people in the region and currently has 250 staff across the region. Southeast Asia has been a key market for Experian to leverage on alternative data for financial inclusion and it has opened offices in Indonesia, Thailand and Vietnam. One of the ways Experian does this is through its Telco Decisioning & Analytics solution which utilises alternative data to provide easy access to financial products. Globally, Experian has made over 7.8 billion credit offers since 2010, with the majority to unbanked and underserved communities in Southeast Asia.
In Thailand, the digital potential in the country is significant, with the government’s push towards the development of a digital economy, which is expected to contribute a quarter to the country’s GDP by 2027. Together with IFRS 9 accounting system set to be effective by 1 January 2020, and high mobile phone usage in the country, Experian is well positioned to offer key services around consulting and validation for banks and other financial institutions, as well as to telcos to adopt credit offers from alternative data sources.
With these opportunities, Experian plans to double its Thailand staff strength within the next 12 months.
Dev Dhiman, Managing Director of Southeast Asia and Emerging Markets, Experian said, “Experian Thailand has become one of the fastest-growing markets for us within five years of operations, driven by a consistent and sustained Thai economy despite less than favourable global macroeconomic conditions. With internet and smartphone penetration set to rise over the next few years, this will create more opportunities for Experian’s digital-first solutions. We are confident that Thailand will remain a key growth market for Experian in the long-term, and will continue our efforts to better serve both consumers and businesses across the country.”
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