Lending Works partners with Experian to boost credit checks

The peer-to-peer consumer lender will use Experian’s data product to understand an applicant’s ability to afford credit and to identify if they have had a reduction in income that could make it harder to maintain repayments. The platform said the tools will help proactively manage a customer’s financial wellbeing, ensuring they are treated fairly and responsibly throughout the life of a loan.

As Lending Works’ primary bureau of choice, Experian will help them to understand which consumers are on an upward trajectory and in a better position to take on finance than a static credit score would suggest, according to Experian representatives.