New Experian Score Combines Traditional and Alternative Data
Experian executives say the new Credit + Cashflow Score is the bureau’s most advanced scoring system to date, combining credit, alternative, trended and banking data into one 300- to 850-point score.
Among the highlights are the inclusion of customer-permissioned bank account activity — including income, balances, card payments and bank fees — and data from Clarity Services, which specializes in scoring users of nontraditional financial services.
“Leveraging Experian’s world-class data with information about how a consumer is managing their finances through open banking is the future of underwriting,” writes Scott Brown, a group president for Experian North America. “Our unmatched expertise and commitment to constant innovation make Experian uniquely capable of helping our clients rethink what’s possible — driving better consumer outcomes, expanding access to credit and ultimately bringing financial power to all.”
