Experian to Acquire AI-Powered Mortgage Shopping Platform Own Up

Experian plans to expand its presence in the mortgage industry by acquiring Own Up, an artificial intelligence-powered mortgage shopping platform.

The acquisition will add Own Up’s homebuying guidance and loan capabilities to Experian Marketplace, joining Experian’s existing ecosystem of credit cards, personal loans and auto insurance offers, the companies said in a Tuesday (Feb. 3) press release.

The acquisition is expected to close in 90 days, subject to regulatory approvals, according to the release.

“This agreement strengthens our role as a holistic financial co-pilot for consumers, bringing personalized mortgage options into the same secure platform they already trust,” Dacy Yee, president, Experian Consumer Services at Experian, said in the release.

Own Up’s proprietary AI-powered technology and network of more than 40 lenders aim to ensure that borrowers don’t overpay for mortgages, according to the release. The platform helps consumers who want to purchase a home, refinance a home or obtain home equity loans.

These resources will join Experian’s B2B mortgage capabilities, consumer services that reach 80 million Experian members, and data and analytics, per the release.

“With Experian’s immense scale and sophisticated personalization now combined with our core technology, we are uniquely positioned to empower consumers and redefine the homebuying experience on a new level,” Own Up CEO and Co-founder Patrick Boyaggi said in the release.

Experian said in October that it acquired regulatory technology provider KYC360 in the United Kingdom and Ireland and that it would integrate KYC360’s customer lifecycle management solutions, which support know your customer (KYC) and know your business (KYB) processes, into Experian’s data, analytics, and credit risk and fraud platform.

The company said this combination would provide Experian clients with optimized compliance, faster onboarding and lower operational costs.

In other recent moves to expand its offerings, Experian made information on the borrowing and repayment history of more than 8 million businesses in the U.K. available to lenders, partnered with U.K. RegTech firm CleverChain to provide AI-powered global due diligence intelligence to businesses that operate internationally, and teamed up with British not-for-profit organization Fair4All Finance to help people access debt consolidation products.