Ditching Fragmentation in the Favor of a More Resolute Lending Practice

Experian has officially announced the launch of several new enhancements its cloud-based Experian Ascend Technology Platform. According to certain reports, these enhancements will leverage software tools for analytics, credit decisioning and fraud to simplify the deployment of analytical models and enable businesses to optimize their practices more frequently. Talk about the whole development on a slightly deeper level, it begins from a promise of rapid model deployment where users can build, test and deploy models from a single interface in days rather than months, thus greatly streamlining processes and enhancing customer experiences. Next up, we have a facility dedicated towards analytics and model development. This facility basically enables you to easily access and harness Experian’s proprietary credit and expanded data attributes with powerful analytical tools for insights and explainable model creation. Joining the same is automated decisioning and risk mitigation, something which should allow secure, automated decisions and risk mitigation across the customer lifecycle. Such a mechanism, on its part, treads a long distance especially when the agenda is to achieve efficient operations and improved outcomes. We briefly referred to risk mitigation, more on the similar subject would reveal how Experian’s new and updated platform comes decked up cutting-edge identify verification and fraud prevention capabilities. These capabilities bank upon a suite of software services powered by advanced AI analytics and comprehensive data assets across digital identity, device intelligence, behavioral analytics and credit insights. Furthermore, they can deliver unrivaled identity verification and fraud risk detection to enable businesses to grow revenue through seamless consumer experiences and dramatically reduced fraud loss exposure.

“Our mission is to develop world-class software and support organizations around the world on their journeys toward more sophisticated fraud prevention, marketing and credit strategies,” said Alex Lintner, CEO of Experian Software Solutions. “The evolution of our platform reaffirms our commitment to drive innovation and empower businesses to thrive. Its capabilities are unmatched and represent a significant leap forward in lending technology, democratizing access to data in compliant ways while enabling lenders of all sizes to seamlessly validate their customers’ identities with confidence, help expand fair access to credit and offer awesome user and customer experiences.”

Hold on, we still have a few bits left to unpack, considering we still haven’t acknowledged the level of expertise in play. You see, while the platform offers automation and low-code functionality, clients can also access Experian’s expertise and top talent through managed services. A component of this sort can be reasonably expected to democratize advanced analytics techniques for lenders regardless of their resources or analytics experience. Making the whole value proposition even better would be an aspect rooted in continuous monitoring and comprehensive feedback, a facility which enables real-time adjustments of strategies. Rounding up highlights would be a fortified brand of security which is powered by encryption, robust access controls, and proactive threat detection. Markedly enough, the platform realizes the given security all while maintaining high availability and enterprise-grade performance.

To understand the significance of such a development, we can also look at how, up until now, companies have been forced to buy software solutions from many different vendors, leverage a variety of tools and applications across different cloud environments, and go through rigorous and time-consuming processes to patch everything together. This, like you can guess, would stretch timelines unnecessarily, raise security concerns, and create operational challenges.

“Utilizing Experian Ascend Technology Platform has significantly bolstered our agility and competitive edge, empowering us to execute more informed, data-driven credit decisions while substantially reducing our time to market,” said Daniel DeMeo, CEO of Lendr. “Experian’s platform helps deliver the scalability we need to be nimble, compete effectively and mitigate losses — ultimately helping us double our business over the past year.”