Experian has recently introduced a new combined score that integrates credit, cash flow, and alternative data sources into one comprehensive assessment.
This new model combines Experian’s secure credit, alternative, and trended information with consumer-permissioned banking details to create an all-encompassing score.
By using Experian’s data in conjunction with insights on financial management via Open Banking, the company aims to enhance client strategies while promoting better outcomes for consumers. This includes expanding credit access and fostering financial health across various clients.
The Development of the Experian Credit + Cashflow Score and Its Advantages
The launch of this score signifies a significant advancement in Experian’s pursuit of equitable credit access. It incorporates a wide range of data, such as consumer-permissioned bank account information, credit histories, detailed credit account records for multiple US consumers, Clarity Services data (which covers those using alternative financial services), and trended data providing a 24-month overview of credit usage.
The score ranges from 300 to 850 and will be utilized throughout the entire financial lifecycle. Institutions and lenders can access this innovative score through custom analytics, archival tools, or via Experian Ascend Platform for testing purposes.
