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Through its personal finance platform in Thailand, .th, CompareAsiaGroup works to empower consumers in Thailand to build healthier financial lives by providing services on the education and comparison of financial products such as credit cards, personal loans and insurance.Д«y leveraging ExperianвЂ™s technology, .th will be able to provide its users with end-to-end digital onboarding and fulfilment for select products.

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This suggests a possible lack of financial literacy among consumers that can potentially limit the full portfolio of financial products available to them. While more than 80 per cent of consumers in Thailand have access to financial services, World Bank data indicates that only 20 per cent of consumers in Thailand have borrowed from a financial institution or have used a credit card.

While the financial inclusion challenge is not as prevalent in its more mature economies, a significant proportion of consumers appear to lack comprehensive understanding of insurance, investment, retirement planning, and financial tools (e.g. According to KPMG, almost three-quarters of the population (73 per cent) do not have a bank account. Southeast Asia is a high growth region for CompareAsiaGroup, being home to over 600 million people. CompareAsiaGroup companies will benefit from utilising ExperianвЂ™s Digital Onboarding Platform, Decision Management and Eligibility Scoring services. Through this investment, and subsequent access to ExperianвЂ™s technology, CompareAsiaGroup will intensify its focus on delivering enhanced customer solutions. The announcement comes after CompareAsiaGroupвЂ™s substantial investment in digital resources, including the 2018 launch of the CompareAsiaGroup Technology and Research and Development Centre in Singapore, enabling the company to offer customers more personalised services with new levels of innovation, efficiency, and scalability. It is one of AsiaвЂ™s leading financial management platforms for banking and insurance products and services, and is the parent company of finance-comparison website .th, one of the leading financial management platforms for banking and insurance products and services in Thailand.ДЇounded in 2014, CompareAsiaGroup currently reaches 60 million users across six markets including Thailand ( .th), Hong Kong ( ), Singapore ( ), and Taiwan ( ).

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The Series B1 funding follows more than US$90 million previously invested in CompareAsiaGroup, from investors including IFC (World Bank), Goldman Sachs Investment Partners, Jardines and Alibaba Entrepreneurs Fund in supporting CompareAsiaGroupвЂ™s continued expansionД«ANGKOK, 19 August 2019 вЂ“ Experian, the world leader in information services, is leading the US$20 million first close of Series B1 investment in CompareAsiaGroup.Includes a strategic partnership with .th, one of the leading personal finance comparison platforms in Thailand managed by CompareAsiaGroup, to boost delivery of customer solutions to consumers in Thailand by leveraging ExperianвЂ™s technology.The Series B1 investment round, led by Experian, aims to connect more CompareAsiaGroup customers with financial products best suited to their needs.

ExperianвЂ™s fifth major investment in Asia Pacific since 2017 highlights commitment to boosting financial health of consumers across the region.

Strategic partnership signing between Dev Dhiman, Managing Director, Southeast Asia & Emerging Markets, Experian (left) and Sam Allen, Chief Executive Officer, CompareAsiaGroup (right)

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