Experian launches 4D Credit to help lenders better support small businesses thrive and survive

1 in 3 lenders say current affordability processes and data aren’t sufficient to meet the requirements of Consumer Duty. New suite of services provides a ‘full picture’ view of affordability, growth, survivability, and risk to assess new and existing customers

UK, 26 June 2023: Experian has today announced the launch of 4D Credit - a new suite of services designed to help lenders better manage their commercial lending portfolio and provide valuable support for small businesses as they look to battle economic uncertainty.  

For the first time, commercial lenders have access to Experian’s market-leading credit risk data and analytics capabilities all in one place. 4D Credit provides a ‘full picture’ view of affordability, growth, survivability, and risk by sourcing and analysing a range of relevant data sources, including credit consumption, payment behaviour, and current account turnover.

Recent research from Experian, which surveyed over 200 lenders, found that 33% said current affordability processes and data aren’t sufficient enough to meet the requirements of Consumer Duty. 59% said their data and technology needs updating for them to be fully confident that they are ensuring the good customer outcomes that Consumer Duty demands.

Further Experian research found that over half (58%) of small businesses agree Consumer Duty regulation will help protect businesses as well as consumers.

 James McGarva, Managing Director of Business Information Services at Experian, said: “Our new suite of services comes at an important time as, not only are we seeing significant changes being driven by the Consumer Duty regulation, many UK small businesses are also looking to push on against a backdrop of rising inflation and the strain of high energy costs.

“By providing lenders with the relevant tools, it allows them to offer a highly personalised approach to risk assessments and affordability, and gives valuable insight to support new and existing customers when access to finance is most needed. Getting this level of understanding provides a much better foundation to help their customers thrive and survive in this increasingly difficult environment.”

4D Credit helps lenders make the most informed credit decisions, whilst managing risk effectively. It also allows a far more accurate lending process by using a wider set of criteria to segment customers and prospects and identify new cohorts that may sit just outside risk appetite but have mitigating factors.

Lenders also have access to Experian’s unique Survivability Score, a measure of the long-term life expectancy of a small business, and High Growth Score, which identifies small businesses with considerable growth potential based on their financial profile, performance to date, and the track-record of the individuals running the business.

Visit Experian’s website to find out more.



Media contact:

 Joe Green 

Senior PR Manager, Corporate & Business, at Experian UK&I

Tel : 07812 737 768 / Email : joseph.green@experian.com  

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 21,700 people operating across 30 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.

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