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CuneXus and Experian offer optimised consumer lending experience

By Edlyn Cardoza

August 05, 2022

  • Compliant
  • Credit Unions
  • Cunexus
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CuneXus, Digital Storefront, Financial Institutions, Experian, Digital Consumer Lending, Compliant, Regulatory, Fair Credit Reporting Act, Credit Unions, Suncoast Credit Union, USACuneXus, a digital storefront for financial institutions’ account holders, announced that its clients can now leverage Experian’s prescreen data and technology to offer customers a frictionless digital consumer lending experience. CuneXus and Experian will deliver compliant digital display options of preapproved offers and help credit unions navigate digital consumer expectations, market competition and regulatory requirements.

CuneXus’ clients can now use Experian’s prescreen data and technology to unlock the power of data to create opportunities for consumers, businesses, and society. CuneXus segments, targets, and prescreens consumers against available loan products and lending criteria, making lending services available through an on-demand digital storefront.

Through Experian’s comprehensive credit data and over 2,000 Premier Attributes, CuneXus clients gain access to expanded Fair Credit Reporting Act (FCRA) regulated credit data to have the ability to improve market segmentation and have a more holistic view of their account holders’ financial situations.

“At Experian, we’re dedicated to helping consumers thrive and facilitating access to fair and affordable credit,” said Greg Wright, executive vice president and chief product officer of Experian Consumer Information Services. “By leveraging our data and technology to make better informed decisions through CuneXus, credit unions can stay competitive, keep up with consumer expectations and meet regulatory requirements while also providing a seamless consumer lending experience for their members.”

This joint offering gives CuneXus clients access to data and analytics that can help them increase financial access for consumers responsibly. By combining traditional credit data with Experian’s expanded FCRA-regulated data, lenders can gain a complete view of a consumer’s financial health. Expanded FCRA data can include positive payment history for monthly utility payments, rental payments, cell phone bills and cable bills.

Dave Buerger, co-founder and president of CuneXus, said, “Experian continues to innovate and leverage technology to help consumers improve their financial health. This collaboration is a perfect fit into our storefront, unlocking opportunities for financial institutions to expand their customer base with inclusive lending and enhanced marketing and segmentation capabilities. This not only generates a next-level, personal experience for account holders but allows our clients to remain competitive in the market.”

The $15.9 billion asset Suncoast Credit Union, headquartered in Florida, wanted a convenient, effective way to deliver pre-approved offers to its over one-million-member base. Together CuneXus and Experian have made it possible with relevant, data-driven, and personalised offers through digital and member-facing channels.

“We are passionate about serving our members and empowering them to live their best financial lives through online and mobile banking, while at the same time allowing our staff to focus more on member relationships,” said Joanna Bradley, vice president of Consumer Loan Delivery at Suncoast Credit Union. “CuneXus and Experian have helped us fulfill our mission as we are now able to deploy greater automation, making the experience more efficient and less redundant for staff, and reducing friction for members in digital channels as they no longer need to call or visit a branch to act on money-saving offers. Instead, they can easily accept online with the tap of a finger.”

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