Experian and Neonomics join forces to streamline access to data and affordability calculations

By Finextra3 days ago

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Source: Neonomics

Experian, the worlds leading data and information services company, partners up with Neonomics to enable faster, smarter insights, decision-making and greater access to finance for consumers and lenders, empowering both parties to ensure responsible lending

In this new commercial partnership, Neonomics and Experian A/S will provide lenders reliable and up-to-date credit information by classifying raw transactional data into predefined categories of income and expenditure. This is a key step in Experian's Open Data strategy, which will enable lenders to improve their decision-making processes and user experiences to attract new customers, manage their portfolios more effectively and gain in-depth knowledge of their customers. For consumers, strengthening the responsible lending approach through open banking will enable a much more efficient process in applying, approving and receiving credit and loans.

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