COSTA MESA, Calif. – Credit bureau Experian introduced a new credit score designed to assess the creditworthiness of consumers who have little or no traditional credit history – typically referred to as underbanked or underserved consumers.

The company’s Extended View is a proprietary credit score that includes three unique data sources: Experian’s credit data, rental information and public record data.  The company said the product provides a “comprehensive view” of a consumer’s payment behavior and is delivered directly from Experian, which streamlines the loan review process, enabling lenders to expand their underwriting population and offer underbanked consumers financial products that help them build a more robust credit history.

“Experian is committed to helping consumers establish and build credit. Many of the estimated 64 million consumers with limited to no credit history that are unscoreable by traditional credit scores are creditworthy,” said Steven Wagner, president, Experian Consumer Information Services. “Extended View can redefine how businesses evaluate this underserved population and empower more consumers with cost-effective credit and financial opportunities.”

Extended View score is aimed at a variety of lenders, including credit unions, banks and auto lenders, who want to confidently enhance their underwriting strategies to the underbanked market segment. The company said this score also is beneficial to telecommunications companies and utility providers, giving them the ability to determine the deposit terms required for new customers.

Extended View score is Fair Credit Reporting Act-compliant, and offers a score range of 401 to 990 – closely aligned to VantageScore, which is the credit industry’s first credit score developed jointly by Experian, Equifax and TransUnion.


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