Experian Unveils Data Suite For SMB Lenders

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Experian unveiled the Ascend Commercial Suite, which is targeted toward financial institutions focused on business lending and insurance carriers, according to a Thursday (April 27) announcement.

The technology collection comes with a novel Ascend Commercial Benchmarking Dashboard, which offers access to information on small to medium-sized businesses (SMBs), and Ascend Analytical Sandbox configurations, according to an announcement.

The sandbox, which is a cloud-based information and insights offering, provides flexibility in meeting the needs of lenders and provides immediate access to as much as 19 years of information. In addition, the Ascend Commercial Benchmarking Dashboard provides an in-depth visual dashboard look into credit risk and Small Business Financial Exchange (SBFE) Data just for SBFE members.

Either by using the interactive dashboard or by creating tailored reports, users can see and share insights. Other use cases for the suite include blended analysis. To that end, small business lenders depending on personal guarantees can harness individual in addition to business data to evaluate a client or possible client’s total risk.

Hiq Lee, president of Experian’s Business Information Services, said that making quick and correct decisions is essential for lenders during uncertain times so they can “continue to extend credit responsibly to the businesses that need it most.”

“Experian’s Ascend Commercial Suite enables clients to access world-class advanced analytics, AI [artificial intelligence], machine learning and benchmarking tools so they can make real-time decisions that can ultimately help businesses on the road to recovery ahead,” Lee said in the announcement.

Experian’s Ascend Commercial Suite is developed on the Experian Ascend Technology Platform, which was rolled out in 2017, according to the announcement.

In separate news, ForwardAI has launched ForwardAI Precise, which is an application programming interface (API) providing a collection of cash flow, financial and accounting information for SMB lending.

The firm provides live access to over 160 points of historical and forward-looking data analysis, which are based on current accounting and financial data and let lenders more easily evaluate future financial sustainability.



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