Case Study: Experian achieves credit-score boosts for millions of consumers with Finicity's open banking platform

Experian Boosts Millions of Consumers Credit Scores with Open Banking

Experian wanted to give consumers a way to improve their credit scores by contributing nontraditional payment data (utilities, telecom, streaming) to their credit file through Experian Boost. To do this they needed a secure, consumer-permissioned method to connect financial data and apply analytics in real time, so Experian partnered with Finicity and its open banking platform to power the Boost experience.

Finicity’s open banking platform provides rapid, permissioned access to tradestreams and analytics that identify Boost-relevant payments, enabling Experian Boost to deliver results in seconds. The partnership has enabled more than 6 million consumers to leverage telecom, utility, phone and streaming payments, engages about 5,000,000 active users, and has helped consumers collectively add over 50,000,000 points to their credit scores; Finicity’s analytics find a Boost-relevant tradestream more than 65% of the time.

Experian

Jeff Softley

President of Direct-to-Consumer