Malin Holmberg, CEO of Experian for the EMEA and Asia Pacific regions, has announced the leadership transition: “Andrew Black will head the newly unified organization, guiding the strategic integration and growth initiatives while leveraging our global innovations.”
Following the completion of the acquisition, John Banfield, the CEO of illion, will be stepping down.
John has been instrumental in transforming illion’s performance and culture, paving the way for the Experian acquisition.
Integration and Growth Strategy
Andrew has laid out a five-year strategic plan designed to maximize the potential of the integrated team and their capabilities. The initial emphasis will be on maintaining service quality for customers while promoting swift operations.
“Through this acquisition, we aim to continue our upward trajectory in Australia and New Zealand, significantly broaden our market presence, and introduce new capabilities that will redefine what a data-centric technology firm can achieve,” states Andrew.
The integration is anticipated to enhance Experian’s product offerings and data resources, allowing customers to enjoy greater choices and improved services.
Andrew emphasizes that the combined data resources will “elevate our product and service capabilities in a way that aligns with Experian’s global strategy and has not been achievable until now.”
Branding and Cultural Integration
The newly merged entity will adopt the Experian brand within the next year, although several well-known illion product names will be retained.
Andrew stresses the significance of cultural integration, remarking: “Our employees are our most significant competitive advantage, acknowledged not just by our customers, but also by leading workplace organizations such as Great Place to Work and Work180.”
“This integration will cultivate a culture of teamwork, bringing together our top talents to form a unified, empowered, and high-performing team.”
The merger unites illion’s workforce of 500 with Experian’s existing employees, combining their data, software, and intellectual property.
With this new unity, the organization aims to enhance market offerings and deliver data-driven solutions for businesses and consumers across Australia and New Zealand.
Andrew further remarks: “This marks a monumental day for our business, our employees, and our customers—this is just the beginning.”
Experian’s Ongoing Expansion
Experian’s acquisition of illion follows a recent partnership that aligns with its growth strategy. In September, the company entered into an agreement with Paylink Solutions to improve credit access and financial inclusion through innovative debt repayment technologies.
This partnership will integrate Paylink’s ReFi™ product into the Experian Marketplace, potentially unlocking credit opportunities for millions of consumers who previously struggled to qualify for debt consolidation loans.
The timing of this partnership is particularly critical, as key markets are currently dealing with a persistent cost-of-living crisis that has placed many households in financial distress.