Experian, the global information services company announced this week that they have acquired a controlling stake in local credit bureau RAM Credit Information Sdn. Bhd (RAMCI).
This acquisition is the latest in Experian’s spree of investing in companies specifically with the intent of tapping into their rich data sets. Since 2017, Experian has made seven investments in Asia-Pacific these are namely, Look Who’s Charging, Grab, Jirnexu, C88 Technologies, Bank Bazaar, and Compare Asia Group.
Its latest investee RAMCI, provides credit reports, alerts and monitoring primarily to financial institutions to help them with credit origination, portfolio management, and collections activities. RAMCI has a direct to consumer business providing consumers credit reports. The company was founded in 2000.
Ben Elliott, CEO of Experian Asia Pacific said
“The acquisition of a controlling interest in RAMCI further extends Experian’s position in Asia Pacific, adding a fourth credit bureau to our operations in the region. It extends our position in Malaysia, an economy seeing rapid expansion and with a population of 32 million.
“Experian has a long history of investment and commitment to Malaysia, given our existing investments in our global delivery centre with its 800 employees, as well as our recent investment in Jirnexu which runs RinggitPlus, Malaysia’s leading financial comparison website. By combining Experian’s world leading technology and platforms together with RAMCI’s data expertise and local knowledge, we will better serve consumers and businesses in Malaysia.”
This acquisition also marks a key step for Experian in accelerating its market presence in Malaysia, with RAMCI coming on board as Experian Malaysia’s Data arm, this move will serve towards fast-tracking Experian’s overall offering in Malaysia
To better reflect this enhanced proposition in market, RAMCI will be rebranded to Experian over the coming months.
Featured image credit: RAMCI Facebook page