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Experian Develops Credit Scoring Product for Underbanked

Experian will offer a new product that assesses the creditworthiness of consumers with little or no traditional credit history.

Extended View uses information from Experian’s credit data, rental information and public record data to develop a credit score for a person who is underbanked. The product provides a view of a consumer’s payment behavior and can be used by banks, credit unions and auto lenders, Experian said in unveiling the product Wednesday.  Experian said that roughly 30% of the underbanked consumers are relatively low credit risks.

Source:  icopyright.net

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