With Experian Affordability, we make sure you can treat every customer as an individual; helping them meet their needs and goals by better understanding their personal circumstances.
Our Affordability Passport enables a consumer to give consent to share their bank transaction data in a single data passport to show their income, expenditure and credit commitments.
The account information is analysed by our CaaS®, automated transaction engine - which interprets raw account information and categorises this into 186 blocks of income and expenditure, through our CaaS machine learning algorithms. The income and expenditure report can be delivered alongside the individuals credit file providing a complete view of their financial circumstances. Once the data is submitted the organisation will be notified via email or web hook that it is available for review, data delivery takes as little as 800
The customer and provider journey can be accessed through the Experian’s portal or directly integrated into your online platform, using our secure URLs or RESTful APIs.
Underwritting effeciency can be increase by 75% with instant access to data
Increase the volume of customers you can accept for a service by up to 7%
Fulfil regulatory requirements by putting the consumers’ best interests at the heart of your decisions
Capture validated data direct from source to enable more accurate analysis and reduce fraud risk from the supply of false document
Provide the fastest path to a more informed and personalised decision with immediate and secure access to data
Capitalise on the availability of Open Banking data to inform better decisions using more granular and timely data
Minimise fraud by ensuring the provenance of your data using automated identity verification, AML checks, account validation and device checks
Reduce time taken to confirm someone’s ability to afford a product or service from days to minutes