Experian Ireland Limited released in a statement the news that it has obtained registration as an Account Information Service Provider (AISP) by the Central Bank of Ireland, a significant milestone that paves the way for Experian to provide regulated Open Banking services in all EU / EEA markets.
Experian already provides a comprehensive set of Open Banking services for credit risk lifecycle management to various clients across Europe, offering accurate categorization of both individuals and small and medium-sized enterprises (SMEs) transactions and the most advanced models and scores for identity verification, affordability and probability of default.
Speaking of the news Malin Holmberg, Chief Executive Officer, EMEA & APAC, Experian, said, “Experian’s mission is to unlock the power of data to create opportunities for people and businesses, and Open Banking is critical to our strategy. Our goal is to be a leader in Open Banking services for credit risk management, to enable fairer access to credit for consumers and small businesses, and to help companies lend responsibly by making more accurate decisions ” .
The pandemic has accelerated the digital transformation of businesses and the growth of Open Banking, which is projected to become a $ 43.15 billion market globally by 2026, as transactional data from bank accounts provides much insight. deeper into the financial behavior of consumers and businesses in real time.
A recent market research from Experian found that “better decision accuracy through better data” is the main reason companies invest in Open Banking. In addition, 65% of companies surveyed in four European markets are actively exploring new sources of data to improve the accuracy of their analyzes, and 38% plan to invest in Open Banking as a solution in the next 12 months.
The addition of Experian Ireland Limited’s AISP registration will allow us to provide even more comprehensive services in the EU / EEA markets in the very near future.
