1. ©2013 Experian Limited & BII. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Limited. Other products and company names mentioned may be the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without prior written permission of Experian Limited. Experian Public. And video link

2. 2 ©2013 Experian Limited & BII. All rights reserved. Public. The Rental Exchange Tackling financial, digital and social exclusion

3. 3 ©2013 Experian Limited & BII. All rights reserved. Public. What is a Credit Report?  Your credit report is a key element of your financial CV. It details credit you have taken out such as credit cards, loans and mortgages, along with your repayment history, any court judgments or bankruptcies against you - and more.  Information on the following items is shown in your credit report: ► Profile Details ► Credit Accounts ► Electoral Roll ► Aliases ► Financial Associates ► Public Records ► Previous searches of your report

4. 4 ©2013 Experian Limited & BII. All rights reserved. Public. What is a Credit Score?  Before deciding whether or not to offer you credit, many organisations take your credit report, plus the details you give the lender on your application form to generate a credit score. This is a single figure that indicates how likely you are to repay what you owe.  The score helps organisations decide whether to make you a credit offer and what terms to set.  Usually, the higher your score, the easier you will find it to borrow and get a good deal.

5. 5 ©2013 Experian Limited & BII. All rights reserved. Public. The Rental Exchange Tackling financial, digital and social exclusion  Millions of social housing tenants in the UK face financial, digital and social exclusion ► Excluded from affordable credit ► More likely to be declined ► Pay a higher price for credit and other basic goods and services  The Rental Exchange will help tenants with the challenges they face in every day life ► Attaining affordable credit when they need it ► Better tariffs for utilities, insurance and mobile phone contracts ► Proving their identity

6. 6 ©2013 Experian Limited & BII. All rights reserved. Public. The Rental Exchange The Journey so far… Proof of concept study by Big Issue Invest and Experian in 2010 with financial support of Friends Provident Foundation, Joseph Rowntree Foundation, Esmée Fairbairn Foundation, and engagement of social housing and banking sectors. Credit decisions improved for 30% of social tenants - around 1.5 million people. 40% of those who would not pass an Identity Check today would pass if rental data were shared.

7. 7 ©2013 Experian Limited & BII. All rights reserved. Public. Tenant focus groups identified that the majority of people were in favour of data sharing. “You’re in a vicious circle, aren’t you? Paying all these high interest rates, you’re never going to get yourself straight until you get a reasonable loan.” “I was on good money - and I asked my bank for a £1000 loan and they turned me down flat. The bank just told me that I didn’t have a credit rating.” “I think that would be good. Good for my future. It definitely makes sense. It gives you the building blocks to get on the ladder if you want to (borrow) money.” “That would help you get a loan at the bank if you are able to prove that you do pay your rent monthly and that could boost your credibility. More like other people. I like that.” The Rental Exchange The Journey so far…

8. 8 ©2013 Experian Limited & BII. All rights reserved. Public. Experian won the tender to take the proof of concept to live implementation. The Rental Exchange The Journey so far… The Rental Exchange was officially launched at the CIH Conference in June and we are actively working with over 170 Housing Providers across the UK collecting up- to-date rental payment information. We are looking for more housing providers to share their rental payment data. Rental Exchange is your chance to help tenants build a positive credit history.

9. 9 ©2013 Experian Limited & BII. All rights reserved. Public. How does the Rental Exchange work? Social housing providers will provide a regular feed of actual payment data about tenants’ rent payment performance - there is no cost involved. The data will be accessed when the tenant applies for goods or services where a credit or identity check is made through an organisation using Experian’s database. Experian processes significantly more transactions of this kind in the UK than any other organisation, giving tenants the best chance of their data being available to support their application.

10. 10 ©2013 Experian Limited & BII. All rights reserved. Public. What are the benefits? Good rental payment history will enhance an individuals credit score increasing access to more affordable mainstream services. Enhance Credit Score Online proof of identity Creates ‘online’ proof of identity - important when applying for goods and services. FOR TENANTS Supports financial inclusion Help tenants to access affordable credit and other services. Improve collections The Rental Exchange will act as an incentive to pay rent in full and on time. FOR HOUSING PROVIDERS

11. 11 ©2013 Experian Limited & BII. All rights reserved. Public. Joining the Rental Exchange Phase 1- Proof of Concept Experian will perform an analysis of your data, to include:  Identification - An analysis showing the proportion of residents gaining benefit from the increase in the number of electronic identifications held on the credit bureau.  Credit Scores - An analysis showing the proportion of residents gaining benefit from having their credit score increased by positive rental payment history.  Tenant Support - An analysis showing the proportion of residents that have impaired credit histories and might benefit from financial education or other support services. Your data will not be shared and will be used for evaluation purposes only.

12. 12 ©2013 Experian Limited & BII. All rights reserved. Public. Joining the Rental Exchange Phase 1- Proof of Concept

13. 13 ©2013 Experian Limited & BII. All rights reserved. Public. Joining the Rental Exchange Phase 2- Full Implementation Access to the data is compliant with the Data Protection Act 1998 (DPA) through an approach that has been fully agreed with the Information Commissioner’s Office (ICO). BII/Experian have produced supporting material to assist in ensuring tenants are positively engaged. Additionally, work is progressing to deliver a targeted programme of financial education and support. The sharing of rental payment history is made possible once residents are presented with a Fair Processing Notice that informs them of the intended uses of the data.

14. 14 ©2013 Experian Limited & BII. All rights reserved. Public. Rental Exchange Questions?

15. 15 ©2013 Experian Limited & BII. All rights reserved. Public. Further Information www.experian.co.uk/rental-exchange www.bigissueinvest.com/alternative_credit_scoring John Montague Director of Early Stage Business  07772 562302  john@bigissueinvest.com John Montague Director of Early Stage Business  07772 562302  john@bigissueinvest.com Mark Goodfellow Head of Data for Rental Exchange  07917 585231  mark.goodfellow@uk.experian.com Mark Goodfellow Head of Data for Rental Exchange  07917 585231  mark.goodfellow@uk.experian.com