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Helping “Credit Invisibles” Get Access To Financial Support with Alternative Data #ExperianStories

Using alternative data to help people get access to #credit  🤗📈💵 #bigdata #retweet

  • I help banks connect people to the loans and credit cards they need, but my role is always changing because the world around us is changing.
  • The challenge for these people comes when they go to a bank to take out a loan, apply for a credit card or try to finance a car.
  • The banks have difficultly gauging their risk or creditworthiness because they don’t have a traditional income source or because their credit footprint is difficult to trace.
  • We brainstorm ideas and create concepts for Experian to implement that will enable us to aggregate data from alternative sources — like utility bills or phone bills — to give banks a more accurate, robust view of each individual.
  • I am constantly dreaming up new ways to connect banks with people who need a loan to feed their family, send their kids to college or buy a car for work.


Experian Stories
February 26, 2017

by

Editor

In United States


@Experian: Using alternative data to help people get access to #credit 🤗📈💵 #bigdata #retweet

I’m a Senior Product Strategy Manager in Experian’s Consumer Services department. I help banks connect people to the loans and credit cards they need, but my role is always changing because the world around us is changing.

My team and I noticed how a whole generation is now thinking differently from other generations about the way they work and live. Rather than joining a large corporation, they make a living through a variety of platforms, like Uber, Airbnb and others — stringing together multiple jobs to make their income on their own timetable.

The challenge for these people comes when they go to a bank to take out a loan, apply for a credit card or try to finance a car. The banks have difficultly gauging their risk or creditworthiness because they don’t have a traditional income source or because their credit footprint is difficult to trace. Banks refer to those types of individuals as “credit invisibles.”

That’s where my team and I come in. We brainstorm ideas and create concepts for Experian to implement that will enable us to aggregate data from alternative sources — like utility bills or phone bills — to give banks a more accurate, robust view of each individual. Additionally, we create useful tools that help people manage their multiple income streams to ensure they’re able to meet their financial obligations each month.

As the wealth of data in the world continues to grow, I see myself as an innovator who turns data into utility that works for people.

I am constantly dreaming up new ways to connect banks with people who need a loan to feed their family, send their kids to college or buy a car for work. I want to help people take the guesswork out of taking each of life’s biggest steps. I want to empower them — through their data — to realize their dreams.

© 2017 Experian Information Solutions, Inc. All rights reserved.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.

Helping “Credit Invisibles” Get Access To Financial Support with Alternative Data #ExperianStories

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