COSTA MESA, Calif .– (BUSINESS WIRE) – ExperianÂ® today announced Ascend Commercial Suite â¢ for commercial lending financial institutions and insurers to drive growth while reducing risk. The suite includes Experian’s Ascend Analytical Sandbox â¢ configurations and a new Ascend â¢ Business Comparison dashboard that provides access to cutting-edge data on small and midsize businesses.
“Experian is committed to creating opportunities for business success, âsaid Hiq Lee, president of Experian’s business information services. “In uncertain times, it’s critical for lenders to make quick and accurate decisions so they can continue to responsibly extend credit to businesses that need it most. Experian’s Ascend Business Suite gives customers access to advanced world-class analytics, artificial intelligence, machine learning and benchmarking tools so they can make real-time decisions that can ultimately help businesses on the road to recovery.
Ascend Analytical Sandbox from Experian is an industry-leading cloud-based data and analytics solution that offers flexibility to meet lender needs and provides instant access to up to 19 years of data. The secure hybrid cloud environment allows users to combine their own data sets with Experian’s proprietary data assets, including consumer credit, commercial, non-traditional, automotive credit and more. Small and medium business lenders as well as insurers can seamlessly combine data from small commercial and consumer businesses to gain a 360-degree view of their overall small business portfolio to more easily identify risks and opportunities . It is a one-stop-shop for information, model development and outcome measurement.
The Ascend Commercial Benchmarking dashboard provides a comprehensive visual dashboard view of credit risk data and Small Business Financial Exchange â¢ (SBFE) data exclusively for SBFE members. Clients can benchmark their portfolios against industry performance and analyze new market segments for potential growth and expansion.
Information available through Ascend Commercial Suite can be viewed and shared through interactive dashboards and customizable reports. Additional use cases include:
- Portfolio performance and monitoring: Lenders can harness the power of Experian data to better monitor performance and quickly identify strengths or issues on visual dashboards without having to run custom reports every month.
- Model development and validation: Customers can monitor existing models and develop new models to improve the risk profiles of new accounts and improve existing accounts.
- Mixed analysis: Small business lenders who rely on personal guarantees can use consumer and business data to determine the overall risk of a customer or potential customer.
- Marketing analysis and acquisition: Information and campaign results from lenders, combined with Experian’s credit risk database, helps them understand performance and improve marketing and segmentation.
- Decision for risk assessment and segmentation: Lenders and insurers can optimize decision and risk segmentation strategies using analytical tools on a single platform, which provides fast and efficient access to multiple integrated data sets.
- Reject the inference: Lenders can load application data and use trade-level SBFE data to understand how denials occur if customers have obtained credit elsewhere.
- Custom attributes to better analyze portfolios: With SBFE Data, lenders can create their own custom attributes or use Experian’s highly predictive attribute set.
Experian’s Ascend Business Suite is based on the Experian Ascend Technology Platform â¢. Launched in 2017, the Experian Ascend technology platform is recognized as one of the most successful launches in Experian history. It is currently used by major financial institutions around the world, including the UK, South Africa, Brazil, and Asia Pacific. Experian’s Ascend Analytical Sandbox was also selected in 2019 as the winner of the ‘Best Global Analytics Platform’ award by FinTech Breakthrough, an independent organization that recognizes the best companies, technologies and products in the global marketplace. fintech.
To learn more about Experian’s Ascend Business Suite, please visit: https://www.experian.com/business-information/ascend-commercial-suite.
Experian is the world’s leading information services company. During the great moments of life – from buying a house or a car to sending a child to college to growing a business by connecting with new customers – we empower 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 prosper, lenders lend more responsibly, and organizations prevent identity fraud and crime.
We have 17,800 people in 45 countries and we invest every day in new technology, talented people and innovation to help all of our clients 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. Other product or company names mentioned in this document are the property of their respective owners.