Information services provider Experian has introduced new capabilities for its cloud-based analytics platform Ascend.
The new tools are designed to increase operational efficiency, maximize profitability and support lenders and businesses, the company said in a Tuesday (Dec. 5) news release.
“Customers will be able to quickly create and manage models without significant investment in their infrastructure,” said Paul Speirs, managing director for consumer information services for Experian U.K. and Ireland.
“This is in light of recent Experian global research showing that it takes 15 months on average to build and deploy a model for credit decisioning. Not only that, they will also get improved access to timely and accurate data, which is one of the most common constraints in any analytics project.”
The new additions include Ascend Retro On Demand, advertised as offering the fastest self-service retrospective data service in the market, letting customers access up to 100,000 record retro files in under four hours.
“This moves retrospective analysis from a periodic action to an anytime iterative approach, allowing analytical testing and value proving to be conducted at a much faster pace,” the release said.
The launch of these new tools follows Experian’s October rollout of its Smart Money Digital Checking Account and Debit Card, designed to give consumers a way to build credit without accumulating debt.
The account lets consumers pay eligible bills, such as utilities, rent and telecom, and have those payments added to their Experian credit file, which can help them improve their credit scores and their credit profile.
And last week, Experian announced it had acquired Wave HDC, a health tech firm offering artificial intelligence (AI)-powered data curation to offer more comprehensive and faster healthcare coverage identification and automation capabilities.
“The acquisition will enhance Experian Health’s leading patient access products to offer an advanced solution that captures all important registration data in real time from the start, as the patient checks in for an appointment,” the company said in a news release.
“No longer will data need to be chased and updated post-registration. A single inquiry can search for all the essential insurance and patient demographics instantly, avoiding costly rework and delayed reimbursements.”