This is a further step in Experian’s Open Banking strategy, which will enable companies to improve their decision-making processes and user experiences to attract new customers, manage their portfolios more productively, and gain in-depth knowledge of their customers. Through this agreement, Experian and Invers have developed a technology platform for open banking. The platform contributes to financial innovation through Invers’s PSD2 aggregation and bank transaction enrichment technology and Experian’s expertise in credit scoring and data analysis.

This new solution will therefore enable lenders to offer more competitive services and better financing terms to its users for businesses and SMEs. Consumers, meanwhile, will benefit from greater personalisation and an optimised shopping experience and with guarantees to protect their privacy and identity, according to the official press release.

New credit and solvency solutions based on real-time analysis of transactional banking data will revolutionise not only the credit industry, but also the telecommunications, insurance, energy, retail, and other industries, enabling better business decisions to be made faster and automatically.