Money Advice Scotland and Experian speed up debt advice process with new open banking tool

UK, 13 January 2020: Money Advice Scotland is piloting open banking technology from Experian which could help them to significantly speed up the initial stages of debt advice.

The money charity’s new webchat service uses Experian’s open banking tool, the Affordability Passport, to gather crucial income and expenditure data, as well as a statement of consumer credit debts. It takes just minutes, as opposed to the weeks and months it can take to gather this information over several advice appointments.

The information is used to ensure that customers can quickly share their financial position, enabling Money Advice Scotland to offer the best support using trusted data.

The partnership comes at the same time as the launch of the very first national webchat gateway into money advice, which aims to ease pressure on money advisers. It will seamlessly allow more people to receive expert debt advice.

Anyone with financial worries can speak to an adviser who will answer an any initial crisis questions and refer them to a regulated provider.

David Hilferty, Deputy CEO at Money Advice Scotland, said: “Dealing with problem debt is increasingly complex as advisers face the repercussions of a decade of welfare reform, stagnating incomes, and rising personal debt levels among households on the lowest incomes.

“Our service presents the opportunity to bring speed and precision to the process of understanding a full picture of someone’s financial circumstances.

“Making use of open banking means we can help the client get this information in a matter of minutes, so they are prepared for their first appointment and can start getting help straight away. We hope this can free up valuable time for agencies to focus on specialist advice.”

 Lisa Fretwell, Managing Director of Data Services at Experian: “Our open banking tool helps debt advisers to help more people in trouble and offer them a faster, improved service.

“Talking about debt is an awkward conversation for people in financial difficulty, and the stress of rummaging through kitchen drawers to find the right paperwork is just another barrier to them getting help. Using our advanced analytics technology, Money Advice Scotland can remove that hurdle and get accurate, up-to-date insights on the financial position people are in, so they can plot the best route to get them back on track.”

Experian’s Affordability Passport is a unique web-based technology which allows organisations to offer customers a secure platform through which they can share bank account transaction data. It delivers a clear and comprehensive picture of people’s income and expenditure.

Money Advice Scotland and Experian’s partnership is part of a pilot project due to run until March 2020 and can be accessed by visiting



Media Contact:

Joe Green, PR Manager, Corporate & Business, Experian UK&I

Tel: 07812 737 768 / Email:

Abbey Fleming, Policy and Communications Officer, Money Advice Scotland

Tel: 0141 572 0443 / Email:

About Money Advice Scotland

Money Advice Scotland is Scotland’s money charity. Our mission is to be the driving force towards financial wellbeing for the people of Scotland. We believe everyone in debt deserves to be treated fairly. Debt can happen to anyone and we understand how it can affect someone’s life which is why we are always working towards securing fairer practices for people in debt.

We’re also a membership organisation and provide training, events, and resources to the money advice sector. We aim to ensure that money advisers have a platform to report social policy concerns via our evidence base and offer various other types of support for professionals in the money advice sector at a time when demand for advice is increasing.

Through our policy work, we strive to be a strong voice for consumers and people in debt by identifying detriment and acting on it. We help to improve people’s financial capability by delivering workshops to schools, colleges, and workplaces across Scotland.

Find out more about out work at

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,200 people operating across 44 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at or visit our global content hub at our global news blog for the latest news and insights from the Group.