Improved credit and fraud decisions to power accelerated growth and delivered 12-month payback

The Experian Ascend Platform™ helps financial institutions improve credit and fraud decisions, offered a 183% return on investment (ROI) and paid for itself within 12 months, according to a recently commissioned Total Economic Impact™ study of Experian’s global customers by Forrester. The firm’s independent findings provide banks and lenders with a framework to evaluate the potential financial impact of the platform on their organizations.

“Experian Ascend Platform helps banks and lenders unlock the full potential of their data throughout the customer lifecycle, using advanced analytics and modeling for fraud and identity, and to explore new market opportunities,” said Keith Little, President of Experian Software Solutions. “We believe Forrester’s findings underscore the tremendous value that the platform delivers our customers in vital business drivers such as approval rate optimization, business growth acceleration and cost reductions.

Hosted in a secure, globally accessible hybrid-cloud environment, the Experian Ascend Platform offers customers worldwide a state-of-the-art technology platform that equips them with AI-powered insights for decisioning across the credit lifecycle. As a result, they can stay ahead of rapidly changing market conditions and evolving consumer behaviors to remain competitive, maximize profitability and optimize operational efficiency.

According to the study, Experian’s global customers said that prior to using the platform, their organizations used a mix of fragmented on-premises credit decisioning solutions that required manual-heavy interventions at different stages of the review and approval processes. As a result, the credit-decisioning process was lengthy, required staff to look at different data sources, and ultimately impacted response times. Also, the absence of a consistent decisioning system introduced increased exposure to fraud and default.

After the investment in Experian Ascend Platform, those global customers had a unified platform that provided up-to-date consumer and commercial data in one view along with robust analytics, automated decisioning and enhanced fraud prevention.

Key results from deploying the platform included accelerated business growth, improved conversion rates, enhanced operational efficiencies for credit-decisioning and marketing teams, reduced default costs, faster response times, and improved data quality and verification processes.

Other unquantified benefits from the study included:

• Improved customer and broker experience through faster decisioning
• Reduced risk at origination
• Improved compliance and audit processes
• Reduced risk of regulatory fines
• Sustainability benefits through reduced physical documentation that lowered the customer’s carbon footprint.

To access The Total Economic Impact™ of Experian Ascend Platform please visit https://us-go.experian.com/the-total-economic-impact-of-experian-ascend-platform.

Methodology

Forrester interviewed six decision-makers from organizations located in the United States, the United Kingdom, Brazil, and South Africa with experience using Experian Ascend Platform. For the purposes of the study, Forrester aggregated the customers’ experiences and combined the results into a single composite organization that is a lending institution with regional operations and based on characteristics of the customers’ organizations.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 23,300 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

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