Temenos teams with Experian to offer real-time credit scores

Temenos teams with Experian to offer real-time credit scores

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To accelerate the automation decisioning process and provide a seamless way for lenders to extend credit, Experian and Temenos today announced the integration of PowerCurve® decisioning solutions into Temenos Infinity, the leading omnichannel digital banking product.

Temenos Infinity covers digital engagement from acquisition to account servicing through to long-term retention, supporting multiple stages of growth. The joint offering includes preconfigured solutions for lenders that prefer standard, “out-of-the-box” integrations to support decision-driven business processes.

“During this unprecedented time, organizations have to be agile in how they approach the user journey. Through this integration, we’re harnessing the power of data and technology to enable financial institutions to make real-time decisions that maximize opportunities, mitigate risk and improve the customer experience,” said Robert Boxberger, Experian’s President of Decision Analytics, North America. “These combined offerings showcase our commitment to continually innovating and finding effective, secure solutions for decisioning automation that businesses can easily scale and rapidly deploy to meet today’s emerging needs.”

Experian’s credit decisioning solutions powered by PowerCurve include:

Instant Prescreen enables Temenos’ clients to make firm offers of credit instantly to those who qualify. It also reduces subjectivity in cross-selling, maximizes consumer engagement opportunities and minimizes risk.

Prequalification is a robust data gathering and decision execution solution that prequalifies consumers for loan products in real-time, prior to loan application. It’s initiated by the consumer and, if criteria is met, provides them with a variety of credit options. Prequalification is a soft pull, so it doesn’t affect a consumer’s credit score, and Experian is the only provider configured with Temenos to provide a soft-pull prequalification process across mobile and digital channels.

Instant Credit allows lenders to determine in real time if a consumer meets their lending criteria so they can make decisions about opening new credit products or line increases.

“We are excited to combine our market-leading banking software with robust data and real-time, automated decisioning from Experian to help financial institutions attract prospects and turn them into account holders,” said Larry Edgar-Smith, SVP of the Business Solutions Group, Temenos Infinity – North America. “It’s a natural evolution to our integration with Experian as lenders and consumers alike continue to demand automated decisioning, relevant digital experiences and frictionless access to their credit options.”

“Experian’s PowerCurve decision management suite delivered through Temenos empowers us to deliver the best possible member service. It has proved incredibly effective in facilitating a fast, efficient experience for our members, especially in today’s competitive loan environment,” said Andy Coy, Assistant Vice President of Credit Services for PSECU, Pennsylvania’s largest credit union. “For example, the prequalification tool enables us to immediately engage applicants with potential offers and minimizes the time it takes to complete an application. This saves both us and our members valuable time and resources.”

“Today, consumers are demanding digital, frictionless experiences from lenders. Through the preconfigured credit decisioning solutions delivered through the integration between Temenos and Experian, Advia is seeing success with improving the member experience for new and existing members by simplifying the initial application process,” said Ryan Olson, Vice President of Consumer Lending at Advia Credit Union.

Experian’s PowerCurve decision management suite is available now through Temenos Infinity Origination.

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