MCL Software Limited, an ExperianÂ® company, has signed a new five year agreement with N Hunter Limited to provide the National Hunter system, a leading anti-fraud data sharing service. Over 90 organisations subscribe to National Hunter to form the largest UK database of its type.
MCL has maintained the National Hunter database since the system was set up in 1993 for the prevention of application fraud within the banking and finance community.
Organisations including leading banks, building societies, finance houses, credit card companies and retailers use National Hunter to exchange application and fraud knowledge on new applications. In 2005, National Hunter members used the system to identify fraudulent applications valued at an estimated Â£5 billion, including one fraud ring which would have exposed the organisation involved to more than a Â£1 million loss.
The new agreement with N Hunter Limited secures the expertise of MCL as the provider of the National Hunter system for a further five years. MCL will provide the technology and operational infrastructure required to support the National Hunter scheme, working closely with N Hunter Ltd and its members. As part of this new agreement, a new third party interface is to be developed to enable members to access the database via alternative software products.
Tracy Howard, Managing Director of National Hunter, said: âWe are delighted to have concluded this arrangement with MCL. We are committed to National Hunter as our UK scheme of choice and the agreement gives us the platform to take the scheme to new levels.
âMCL has consistently demonstrated its ability to support the service and we enjoy a good working relationship. The financial services industry is committed to sharing intelligence as we strive to counter increasing levels of fraudulent applications in all sectors.â
Gary Wood, Managing Director of Experianâs Fraud Solutions business added: âThe effectiveness of National Hunter at combating fraud has secured its position as an industry standard in fraud prevention. Some lenders are saving in excess of Â£1 million per month by using the system, clearly illustrating the power of data sharing and the need for ongoing commitment from the industry to the use and ongoing development of National Hunter.
âWe welcome the opportunity and are committed to working closely with N Hunter Limited and all its members, to ensure that the most secure and efficient service is provided. We also look forward to working with all parties to strengthen the database with new members and data sources. As a leading anti-fraud services business, we are committed to the ongoing success of National Hunter.â