With Experian Affordability, we make sure you can treat every customer as an individual; helping them meet their needs and goals by better understanding their personal circumstances. Our Affordability Passport enables a consumer to give consent to share their bank transaction data in a single data passport to show their income, expenditure and credit commitments.

The benefits at a glance:

  • Increase efficiencies, Underwritting effeciency can be increase by 75% with instant access to data
  • Increase the volume of customers you can accept for a service by up to 7%
  • § Fulfil regulatory requirements by putting the consumers’ best interests at the heart of your decisions
  • Capture validated data direct from source to enable more accurate analysis and reduce fraud risk from the supply of false document
  • Provide the fastest path to a more informed decision with immediate and secure access to data
  • Capitalise on the availability of Open Banking data to inform better decisions using more granular and timely data
  • Minimise fraud by ensuring the provenance of your data using automated identity verification, AML checks, account validation and device checks
  • Improved customer experience - reduce time taken to confirm someone’s ability to afford a product or service from days to minutes
  • Personalise your decisions – make more personalised decisions that accurately reflect an individual’s financial well-being
  • Deliver, better products - reducing friction in the application and on-boarding process

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With help from Experian’s tracing solutions, we were able to reduce our ‘goneaways’ back book and reunite more of our customers with funds owed to them. This solution helps us work towards our original purpose of helping people take responsibility for their future and achieve a lifetime of financial security. The communication with Experian throughout the project was fantastic and we’re pleased with the results.
Sarah Simpson, Aegon

Functionality that delivers your goals

How Affordability Passport works
The account information is analysed by our CaaS®,
automated transaction engine - which interprets
raw account information and categorises this into
186 blocks of income and expenditure, through our
CaaS machine learning algorithms. The income and
expenditure report can be delivered alongside the
individuals credit file providing a complete view of
their financial circumstances.
Once the data is submitted the organisation will be
notified via email or web hook that it is available for
review, data delivery takes as little as 800
milliseconds. The customer and provider journey
can be accessed through the Experian’s portal or
directly integrated into your online platform, using
our secure URLs or RESTful APIs.

Product Specification

Free Demo

Yes, available.

Demo options

Live, Video

Deployment

Cloud based

Data integrations

Custom Integration available

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Experian Affordability Passport guide

Explore the wealth of automated verification tools available with Experian's Affordability Passport

Download Product Sheet

FAQs