- Data and technology company Experian launched its Experian Express solution this week.
- Experian Express is a self-service platform that will enable smaller lenders such as credit unions and community banks to credential, onboard, and access credit reports through a fully online, fully digital process.
- Experian made its Finovate debut at FinovateSpring 2011. The company’s North American headquarters is in Costa Mesa, California.
International data and technology company Experian introduced its Experian Express solution this week. The new offering is a self-service platform that enables credit unions, community banks, and smaller lenders to digitally credential, onboard, and pull credit reports quickly and efficiently via a 100% online process. Experian Express provides data on more than 245 million credit-active consumers, ensures 99.9% data freshness in North America, and offers understandable, human-readable reports.
Writing about the new offering on the Experian blog, Nathalie Stecko, Marketing Program Manager for the company’s commercial solutions, highlighted the challenges faced by smaller lenders when it comes to securing reliable credit-reporting solutions. “Many available options frequently require technical integration, such as full Application Programming Interface (API) implementation or enterprise-level approvals, creating barriers that small lenders cannot easily overcome,” Stecko explained. “Minimum volume requirements further intensify the challenge, forcing smaller creditors to pay disproportionately high costs for the limited number of reports they need.”
Experian Express serves US lenders with lower-volume credit report access needs. The platform streamlines access to high-quality credit data, providing smaller lenders with real-time credentialing through a guided, online application process. Clients can choose between two subscription plans tailored for common credit workflows: the Essentials plan, suited for manual credit review, compliance checks, and basic fraud risk mitigation; and the Pro plan, which includes all Essentials features plus enhanced identity verification during the account opening process. Experian Express uses VantageScore 4.0, blending trended credit data with machine learning. This provides a more dynamic view of consumer credit behavior over the most recent 24 months. Clients can also enhance risk mitigation with built-in fraud prevention solutions such as Experian’s Fraud Shield or PreciseID.
“Small lenders play a vital role in expanding consumer access to credit,” Experian Chief Product and Analytics Officer Molly Poppie said. “Driven by our commitment to financial inclusion, Experian Express brings digital onboarding to a traditionally manual process, giving lenders a faster, more efficient way to obtain the credit insights they need to confidently extend credit and support consumers across the communities they serve.”
With North American headquarters in Costa Mesa, California, and a corporate headquarters in Dublin, Ireland, Experian leverages data, analytics, and software to help redefine lending practices, fight fraud, and promote financial wellness. The company operates in markets such as financial services, insurance, agrifinance, healthcare, and more. Listed on the London Stock Exchange under the ticker EXPN, Experian has 22,500 employees across 32 countries.
Photo by Ivelin Donchev
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