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Experian Premieres Credit Score Product Suite
Experian has announced plans to roll out Experian Lift, a suite of credit score products that combines traditional and alternative credit with trended data assets as a new way to measure consumer creditworthiness over a 24-month period.
Experian Lift will be made available for lenders in early 2020. The new suite will integrate Experian's exclusive alternative data assets–alternative financing information, rental data and full file public records information including professional licensures–to determine a borrower’s financial stability, willingness to repay and ability to pay. All data analyzed through Experian Lift will be Fair Credit Report Act regulated.
"There are more than 100 million consumers who are restricted by the traditional scoring methods used today," said Greg Wright, executive vice president and chief product officer for Experian Consumer Information Services. "We're committed to improving financial access while helping lenders make more informed decisions. Experian Lift is our latest example of this commitment brought to life. Through Experian Boost, we're empowering consumers to play an active role in building their credit histories. And, with Experian Lift, we're empowering lenders to identify consumers who may otherwise be excluded from the traditional credit ecosystem."
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