Experian has launched Experian Activate™, an AI-enabled decisioning engine powering the Experian Marketplace, designed to connect its more than 90 million members with financial offers they are more likely to qualify for. Experian Activate uses credit data, analytics, AI functionality, permissioned financial information of the consumers, and lender underwriting criteria to provide real-time personalized credit decisioning and offer matching. Unlike typical marketplaces which use pre-screened lists or periodically updated lists, Experian Activate analyzes the consumers in real-time when they are shopping for financial products like credit cards, personal loans and auto insurance. It also makes use of its credit intelligence in other third-party experiences like ChatGPT. The rollout also expands Experian Cashflow Attributes within the marketplace, allowing participating lenders to incorporate consumer-permissioned bank account data alongside traditional credit information.
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“Experian Activate brings together the full power of Experian’s data, analytics, marketplace reach and AI capabilities to create a more intelligent lending experience,” said Rakesh Patel, Executive Vice President, Experian Marketplace at Experian. “We’re uniquely positioned to help lenders make better decisions with greater confidence while helping consumers discover financial opportunities that are more personalized and relevant to their needs. It’s another example of how Experian is using AI and innovating to create better outcomes across the financial ecosystem.” “Cash flow data is transforming how we understand consumer behavior, assess risk and open doors for consumers who have been historically left out of the mainstream financial ecosystem,” said Ashley Knight, Senior Vice President of Product Management, Financial Services and Data at Experian.