A potential market of 100 million borrowers

Experian early this year will introduce a new credit score product it says will help financial institutions make loans to more credit invisible and thin-file consumers—a huge market of more than 100-million people.

Called Lift, the score does more than access nontraditional credit data, such as rent and utility payments; it combines traditional credit, alternative credit and trended data assets to create a more holistic picture of consumer creditworthiness, explained Alpa Lally, VP of data for Experian’s consumer bureau.

“What we are trying to do is target the 100 million consumers who are essentially restricted by traditional scoring methods used today,” said Alpa. “

As CUToday.info has extensively reported, the financial services industry has seen a number of alternative credit scoring models introduced by credit bureaus over the last few years. Experian also introduced an alternative scoring model, called Boost, in that period.


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