New Experian tool taps into banking activities to enhance underwriting.

Experian has introduced a new tool called Cashflow Attributes to assist finance companies and lenders in working with consumers who may not have strong credit histories. The tool aims to provide "fair and affordable" access to credit for individuals with thin credit files or no credit history. By integrating banking data into their decision-making process, lenders can gain a more comprehensive view of a consumer's financial health and creditworthiness. Experian's research shows that using cashflow insights alongside traditional credit information can increase predictive accuracy by up to 20%. The company believes that this tool will contribute to financial inclusion and create a more equitable path to credit. [Extracted from the article]