As businesses around the world face constant change and look for ways to optimize their operations, Experian is ushering in a new era of simplification, scalability and automation with the launch of new enhancements to its cloud technology platform, Experian Ascend Technology Platform. Now, Experian’s award-winning platform brings together software tools for analytics, credit decisioning and fraud into a single interface. This simplifies the deployment of analytical models and allows companies to optimize their practices more frequently, gaining efficiency while investing less time and money.
Experian’s enhancements were unveiled to more than 500 business leaders at its annual Vision Conference in Scottsdale, Arizona; they also represent a considerable evolution in the simplification of business-to-business software solutions.
Why is this important:
- The world’s largest technology companies have set the standard for user experiences and seamless integrations between software components through single sign-on, data portability, and advanced no-code or low-code features.
- Historically, this type of synchronized experience has been inaccessible to many companies, particularly those in the financial services industry.
- Typically, businesses purchase software solutions from different vendors, use a variety of tools and applications in different cloud environments, and follow rigorous and time-consuming processes to put it all together.
- This piecemeal approach unnecessarily lengthens timelines, raises security concerns and creates operational hurdles. It also increases costs and the likelihood of errors or downtime, as such installations are only as strong as their weakest link, always causing problems if a single component fails.
“ IT services companies are increasingly delivering their software portfolios as pre-integrated platforms that deliver scale, efficiency and productivity,” said Raymond Pucci, IDC research director, Worldwide Lending Digital Strategies. “ For lenders, enterprise architectures like Experian’s Ascend technology platform can accelerate credit decision-making, improve loan quality and optimize risk management, leading to improved customer relationships. customers and business growth. »
Experian’s platform updates represent a significant milestone — fueled by Experian’s significant investments in innovation over the past eight years as part of its modern cloud transformation.
“ Our mission is to develop world-class software and support organizations around the world as they move toward more sophisticated fraud prevention, marketing and credit strategies,” said Alex Lintner, CEO, Experian Software Solutions. “ The evolution of our platform reaffirms our commitment to driving innovation and enabling businesses to thrive. Its capabilities are unmatched and represent a notable advancement in lending technology, democratizing access to data in a legal manner while enabling lenders of all sizes to easily and confidently validate their customers’ identities, foster fair access to credit and providing users and customers with an exceptional experience.
Experian’s Global Scalability
Experian’s platform is now available in regions including North America, Brazil and the United Kingdom. The enhanced platform is used by more than 1,500 customers worldwide, processing 14 million credit reports per day and billions of credit and fraud transactions per year. In North America alone, more than 8,000 registered users from 80 customers access more than 12 petabytes of data per week for analytical purposes.
A simplified and scalable approach
Experian’s enhanced Ascend technology platform now significantly reduces installation time and provides simplified access to many of Experian’s award-winning integrated solutions and tools through a single sign-on and managed through an easy-to-use dashboard.
The platform uses generative AI and facilitates switching between applications, automating processes, modernizing operations and improving efficiency for customers of all sizes and experience levels. Additionally, customers already using Experian solutions can now easily add new features through the platform to improve business results.
For example, Lendr, a specialist fintech offering modern financing solutions for small businesses, is leveraging the power of the platform to improve its competitiveness and informed decision-making.
“ Using Experian’s Ascend technology platform has significantly increased our agility and competitive advantage, enabling us to make more informed, data-driven credit decisions while significantly reducing our time to market,” said Daniel DeMeo, CEO of Lendr. “ Experian’s platform provides the scalability we need to be agile, compete effectively and reduce losses – ultimately helping us double our revenue over the past year. »
Other features and benefits of the platform include:
- Analysis and Modeling: Customers can easily access and benefit from Experian’s proprietary credit attributes and extensive data with powerful analytical tools to gain insights and create explainable models.
- Rapid model deployment: Build, test, and deploy models from a single interface in days rather than months, streamlining processes and improving customer experiences.
- Automated Decision Making and Risk Mitigation: Enables safe, automated decision making and risk reduction across the customer lifecycle, ensuring efficient operations and improved outcomes.
- Fraud and Identity Verification: Experian’s platform stops fraudsters faster and streamlines consumer experiences through a suite of software services powered by advanced AI analytics and comprehensive identity data assets digital, device intelligence, behavioral analysis and credit awareness. It provides exceptional identity verification and fraud risk detection to enable businesses to increase revenue through seamless consumer experiences and minimize fraud losses.
- Expertise through Managed Services: While the platform offers automation and lean code capabilities, customers can also access Experian‘s expertise and top talent through managed services, democratizing techniques advanced analytics tools for lenders, regardless of their analytics resources or experience.
- Continuous feedback and monitoring: Benefit from continuous monitoring and feedback to adapt your strategies in real time and stay ahead of evolving issues.
- Best-in-class security: The platform is enhanced with encryption, rigorous access controls, and proactive threat detection, while maintaining maximum uptime and enterprise-grade performance.
SOURCE: BusinessWire