UK consumers now have access to their personalized Experian Credit Score through ChatGPT. Experian updates its ChatGPT app with new personalized credit features.
This is a UK first for access to personal credit information using an AI platform. Get your individual Experian Credit Score of 1250 in a safe Experian experience. It also provides users with more context on their financial position. It also helps consumers understand the components that impact their credit score.
The move comes amid consumers’ growing use of artificial intelligence for information and services. Financial management is also becoming a part of this shift to AI-powered tools. Research shows that 62% of regular users of ChatGPT use AI tools to help them meet their financial objectives. However, consumers who request credit score information via AI are often met with generic advice.
This information is gathered from publicly available sources. Thus, it may be an inaccurate reflection of the individual’s true financial condition. The enhanced Experian app closes that gap by delivering personalized credit information to ChatGPT. Users can also see their Experian Credit Score history and watch their score change over time.
Experian is at the heart of the vast majority of lending decisions made in the UK. Its services account for eight out of ten credit card applications. As such, the Experian Credit Score continues to be a key indicator for consumers reviewing their financial standing. The latest upgrade gives you authenticated access to personal credit information in an AI platform. Users are required to connect their Experian account with the existing features within the ChatGPT.
The upgraded app allows consumers to do a number of tasks.
Check out their custom 1250 Experian Credit Score: See your score in seconds with the secure Experian widget.
Know their credit score: The app breaks down the information used to calculate the Experian Credit Score.
Track credit score history: Users can see score movements and their current score band without leaving the conversation.
Compare current account offers The comparison table allows customers to assess the current account options available.
Experian prioritizes privacy and secure access
Experian has designed the upgraded app with security and privacy in mind. Consumers can view their credit scores through Experian’s secure, logged-in experience. The company built the solution such that this information was not exposed to the AI model. And the info doesn’t prove responses generated by AI.
Users seeking more information can also return to Experian’s app or website. Here they can see their full personalized credit report and get advice on improving their score. The development also aligns with consumer expectations around AI and financial services. A report found 91% of regular ChatGPT users would find an Experian app for ChatGPT useful.
At the same time 86% said they would trust the app. That trust was driven mostly by data privacy. Younger consumers are also a key audience for the service. Around 38% of 18-34 year olds say they want to be more knowledgeable about personal finance. This group is still the least likely to review its credit score. So Experian is trying to make credit information easier to get to, on a platform they already use.
Experian is bringing its personalized score information to Chatbot, expanding access to its financial education capabilities. At the same time the company is building a road toward its own digital services. Users can then drill down into their financial information. They can also take steps to better understand and improve their financial health as well.
Edu Castro, Managing Director of Experian Consumer Services UK&I, said: “Today we’re giving people secure access to their own personalised score, with a clear explanation of what’s behind it, inside the AI platform millions already use every day. As people increasingly seek money advice on a range of different channels, it’s important the information they get is accurate and genuine. This is fundamental to our strategy of meeting people wherever they choose to engage with us and helping make credit understanding truly accessible, especially for younger consumers who are growing up with AI as their first port of call for financial questions. Experian helps power the majority of lending decisions in the UK, so giving people easier access to their Experian Credit Score helps them better understand one of the key factors lenders use when making decisions.”
To begin, users can connect their Experian account within ChatGPT. They need to tag @Experian and follow the secure sign-in process. New customers can also register with Experian for free through the App Store or Google Play. The Experian app is available within ChatGPT for users who want to access the new functionality.
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News Source: Businesswire.com
