Following this announcement, the partnership is expected to provide a new credit card and loan service for the Equifax Marketplace. The solution is set to enable clients and customers to compare credit cards, as well as secured loans and personal loan tools in a simple and efficient manner. In addition, they will be able to find a financial product that suits and meets their needs, preferences, and demands from the panel of lenders.
Aro’s data-driven matching platform was developed in order to optimise the chances of clients obtaining the financing they aim to use through a set of machine learning models. At the same time, the company will be enabled to offer improved credit options to its users from over 70 of the UK’s lenders, while also prioritising the process of matching customers with the most appropriate lending products for their needs.
More information on the partnership
Through the use of soft credit searchers, which were designed in order to not impact clients’ credit scores, the new collaboration is expected to provide Equifax clients with the possibility to access optimised transparency and choice, while also promoting a competitive lending environment. This process is set to allow individuals to easily and securely compare a variety of credit tools, including personal loans and credit cards, personalising their financial decisions to their specific needs, preferences, and current situations.
Through the process of simplifying comparisons, Equifax will encourage responsible borrowing and assist clients in making improved and better-informed decisions. This will happen while taking into account the current economic climate, as well as their overall financial set of goals in a single, secure, and efficient marketplace service.
The partnership is expected to continue to promote financial empowerment in order to develop a transformative experience for more clients and users. At the same time, Equifax will focus on bridging the gap between lenders and borrowers, aiming to drive forward financial inclusion. The main goal is maintained on optimising the overall lending landscape, as well as ensuring that the benefits of personal credit match the technology and provide customers with the possibility to develop their overall financial prosperity.
