Overview

Assessing an individual’s ability to afford a product or service, both at the point of application and throughout their relationship with you has always been important, but now with our fast-changing environment, it has become even more crucial to protect both the consumer and your business. With Experian's Affordability Checks, we make sure you can treat every customer as an individual; helping them meet their needs and goals by better understanding their individual circumstances.

An affordability assessment to suit your business and your customers

Experian affordability gives you the flexibility to choose the right level of data to suit your business needs, together with detailed analytics to support your decision making. Using current account turnover data, or bank transaction information from Open Banking in association with credit information, we help you to reach the ‘fastest path to a decision’.

In response to the current Covid-19 crisis, we provide additional insight into income shock, employment status, use of overdraft, liquidity and spend characteristics to help you respond to the crisis changes in an individual’s personal finances.

DebtSense allows you to gain a detailed picture of a consumer’s affordability position by bringing together key insights from Open Banking gathered through the Affordability Passport, Experian’s credit bureau and the consumer, captured through easy to use digital tools. This insight is then passed through an intelligent rules engine to produce personalised outcomes for each consumer whether that be extending their emergency payment break or restarting their payments.

DebtSense streamlines your data collection process by providing a simple and intuitive digital service for consumers and agents, to ensure everyone has the key information needed to make informed decisions.

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  • Free Demo - Live, Video
  • Cloud based
  • Custom Integration available, Microsoft CRM, SalesForce, SAP
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The benefits at a glance

Improve customer experience by removing friction – making sure they complete their application with you rather than switch to a competitor

Deliver personalised solutions to meet their changing expectations and encourage repeat business

Create loyalty by treating customers as individuals and building trust over time as their circumstances change

Increase revenue by being able to help more people/offer more services responsibly

Focus your time and efforts on the most profitable customers, e.g. those with low risk but high demand for your product or service

Experian's Bureau data can be used to confirm up to 80% of incomes by your customers, and increase acceptance rates by up to 10%

Immediate and ongoing access to 90% of UK consumer current accounts

Reduce the volume of customers going through manual review by up to 30%

Frequently asked questions

Get in touch to find out how Affordability Solutions can help your business

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Further reading