The Experian Affordable Loans provides a seamless, fully digital way for consumers to apply for loans with Credit Unions. Combining affordability and soft search Eligibility capabilities, Experian Affordable Loans platform gives customers an automated decision based on their credit history to determine whether they match the loan lending criteria.
When consumers look for a loan on a comparison site, an Experian-powered pre-qualification check means only applicants likely to fit a Credit Union’s financial and geographical criteria are offered its products, cutting the time and money involved in processing applications unlikely to succeed. This means we can help community finance providers to get their offerings onto key price-comparison websites easily and cost-effectively, helping them reach millions more financially vulnerable customers. If accepted, the application will be supported with details of the maximum amount they can borrow. This means that community finance providers can go digital fast, easily, and cost effectively, giving customers who need help a seamless digital journey
Experian Affordable Loans platformIncrease brand awareness and exposure - Your products can be accessed on mainstream aggregator/price comparison websites
Build trust, improve loyalty - Grow and retain your customer base by helping them access affordable credit
Better qualified referrals helping generate more revenue - Only get applications from borrowers you are likely to accept
Promote responsible lending - Supporting good financial management by providing customers products they can afford
Treat customer fairly - Customers can check eligibility without damaging their credit record by making multiple applications
Brand value and recognition - The Experian brand is trusted and recognised for helping consumers get access to better financial services