Experian and Oakbrook agree loan partnership

Experian has announced a partnership with Oakbrook, a non-bank provider of consumer lending solutions.

The partnership will man that the lender will use Experian Boost data in its decisioning process for personal loan applications. Experian says that the partnership will increase access to credit for customers who traditionally may not have been eligible – driving financial inclusion and offering more competitive loan options.

Eduardo Castro, Managing Director of Experian Consumer Services said “This partnership demonstrates how alternative data can drive financial inclusion while supporting lenders in making informed credit decisions. By using Experian Boost in the decisioning process, lenders like Oakbrook can expand their reach and offer credit products to a wider pool of borrowers. Likewise, as the increased cost of living continues, it’s important for us to work with lenders to help consumers get access to credit options that they can manage.”

James Blakey, Chief Analytics Officer, at Oakbrook said: “At Oakbrook Finance, we understand the crucial role that access to credit plays in empowering individuals to achieve their financial goals. Our goal is to continuously innovate and offer tailored, affordable, and straightforward financial products. We are committed to providing solutions that are not only accessible but also easy to manage and understand, ensuring our customers have the confidence and support they need in their financial journey.

“We’re delighted to partner with Experian to leverage alternative data like Experian Boost, enabling us to meet the diverse needs of our customers, making credit more inclusive and impactful.”