Experian’s solutions will enable Black Opal to make real-time credit offers and mitigate fraud
COSTA MESA, California, March 30, 2022–(BUSINESS WIRE)–To improve financial access for consumers who are new to the United States, Experian today announced the integration of Experian’s PowerCurve® and CrossCoreMT platforms in black opal credit decision process. This process will be used on the new Black Opal credit card, which is available now.
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Black Opal is dedicated to helping American immigrants build credit so they can integrate into society and improve their financial health. Experian’s capabilities will enable Black Opal to make real-time credit decisions and manage identity verification and fraud prevention.
“We understand that many expats, professionals and immigrants do not have access to traditional credit,” said Robert Boxberger, president of Decision Analytics, North America at Experian. “That’s why we’re proud to work with Black Opal to integrate our data, advanced analytics and technology to enable real-time decisions while mitigating fraud risk. Experian is committed to driving financial inclusion and to provide its customers with data-driven solutions that enable efficient and secure decision-making in today’s dynamic environment.”
Black Opal provides a range of essential services for people who have moved to the United States, namely the Black Opal Expat Credit Card. “As an Australian, I am passionate about promoting financial inclusion because I know firsthand how difficult it is to develop a credit history in a new country,” said Matthew Holden, Founder and CEO by Black Opal. “Black Opal’s mission is to help our customers who have moved to the United States. We chose Experian because of the extraordinary breadth and depth of its tools that enable Black Opal to make better decisions and make a real difference for our customers.”
Experian’s integrated digital identity and fraud risk platform, CrossCore, will help Black Opal address fraud risks. It combines risk-based authentication, identity verification and fraud detection in a single cloud platform. Through flexible decision orchestration and advanced analytics, CrossCore enables customers to reduce fraud losses while maintaining a seamless consumer experience.
Experian’s credit decision solutions powered by PowerCurve include Prequalification, which is a robust data collection and decision-making offering that prequalifies consumers for loan products in real time, prior to loan application. It is initiated by the consumer and, if the criteria are met, offers them credit options. Prequalification is a gentle inquiry and does not affect a consumer’s credit score. Once the consumer chooses to proceed, Instant credit helps determine, in real time, if a consumer meets loan criteria so that a lender can make decisions about opening new credit products or line increases for customers.
To learn more about Experian’s PowerCurve Business Intelligence Suite, please visit: https://www.experian.com/strategy-management/powercurve-video. To learn more about Experian’s CrossCore platform, please visit: https://www.experian.com/decision-analytics/crosscore-fraud-prevention-platform.
Experian is the world leader in information services. During life’s big moments – from buying a house or a car to sending a child to college to growing a business by connecting with new customers – we enable consumers and our customers to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and thrive, lenders lend more responsibly, and organizations prevent identity theft and crime. .
We have 20,000 people operating in 44 countries, and every day we invest in new technologies, talented people and innovation to help all of our customers maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are part of the FTSE 100 index.
Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.
About Black Opal
Black Opal Inc. was founded in Sydney, Australia and moved to the United States in 2017. Black Opal is a proptech/fintech start-up that offers credit cards, international currencies and international savings/funds in Australia, the United States, the United Kingdom, Germany and other countries. Black Opal has offices in the United States, Australia and India.
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