Credefi and Experian partner

Experian collects and researches credit information on individuals. It then rates their ability to repay debt. Being one of the two largest credit bureaus in the world, Experian has a market capitalisation of more than USD 27 billion. It is a publicly traded company with thousands of employees and offices all over the world.

Credefi’s platform enables decentralized and secured lending to business portfolios, protecting lenders while providing a fixed annual percentage yield (APY) that is uncorrelated with the volatility of crypto markets.

This partnership aims to broaden Credefi’s reach and access to institutional-grade clients. The collaboration also formalises bilateral cooperation between the two companies. Moreover, it emphasises the standards the team strives to maintain in terms of service quality, as well as safety and security of its users.

Both Credefi and Experian aim to improve the Open Banking system and integrate better fintech application programming interface (APIs). The collaboration between the two companies makes it simpler to check and adjust Credefi’s scoring, while it is also essential for Experian.

The Green Deal implications

Another important benefit that the partnership provides is Credefi becoming the official Experian partner and mediator for providing Green Company scoring to all firms that apply for a loan through their platform.

To put things in perspective, the Green Deal aims to improve the overall health and well-being of EU citizens and future generations. In order to accomplish this, the framework lays the groundwork for fresher air, cleaner water, healthier soil and biodiversity, more energy-efficient buildings, healthier and more affordable food, and so on.

Following an Action Plan that began to address the most pressing issues, the current situation necessitates a more comprehensive and fundamentally more progressive strategy. Therefore, it is only a natural step to create a framework with appropriate tools and structures to strengthen the foundations for long-term investment. Too many financial and non-financial companies continue to prioritise short-term financial performance over long-term development and sustainability-related challenges and opportunities.

Experian’s other partnerships

Experian has a rich portfolio of partnerships, the newest one being with Prove. The two companies have decided to collaborate in November 2022, in order to improve financial inclusion across the globe through advanced identity verification technology.

The collaboration between these two entities aims to achieve two major objectives. One of them is to assist businesses in expanding financial services to more consumers while reducing digital fraud. The second goal is to provide more consumers with wider access to faster, easier, and more secure experiences, particularly among underbanked populations who typically have access to slower digital experiences.

Another partnership focused on fighting financial crime was the one with DQ Compliance. In August 2022, the companies came to the conclusion that by combining Experian's KYC data with DQ Global's suite of no-code fintech products, FCA-regulated customers can now access a view of a business, what it does, and who it employs to help rule out financial crime before working with them.