Investor Presentaiton
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Appendix
Social - Experian Boost case study (USA)
Overview
Boost results²
Market context
Median US household income is c.$70k. Around a third of
people are sub-prime. A subprime credit score could cost a
consumer c.$200,000 more in interest over their life1.
Over 14m people in the US have connected to Boost³.
•
•
•
Exceptional
800-850
21%
Poor
12% 300-579
All
'Poor'
customers score band
'Thin file'
Average FICO® score is 715
Increased score
60%
88%
84%
17%
Fair
580-669
However, c.30% people have
Poor or Fair scores (subprime)
Mean points increase
13
24
20
Very Good 28%
22%
740-799
Good
670-739
2/3 Boost customers come from
Poor or Fair
•
Increased score band
8%
22%
15%
•
June 2022 data
What is Boost and how does it work?
A free consumer product, first launched March 2019 in USA.
Consumers give us permission to connect to their online
banking accounts; identify rent, car insurance premiums, utility,
telecoms & TV streaming payments; then add these to their
Experian credit file.
After the consumer verifies the data and confirms they want it
added to their Experian credit file, an updated FICO® Score 8 is
delivered in real time. A 'boosted' credit score may help lenders
to make more informed decisions when examining prospective
borrowers.
Consumer benefits
Boost helps bring more consumers into
the credit system, and may also give
access to more financial products and at
lower interest rates, e.g. credit cards
and car loans.
A customer's screen after
boosting their score
Good
670-739
702
FICO SCORES
Very Good
300
Sample score
850
Congrats! You got a boost.
6/10
see their score
increases
88%
of 'Poor' score
customers
increase scores
8%
of customers
move up
a band
42%
of Thin file
become
Thick file
67%
of score band
increases
originated in
'Poor' band
39%
previously not
scoreable who
get a score4
experian.
Benefit to customers
Melinda: "It helped me get credit when I thought that was no
longer an option for me"
Mark: "After my score increase using Boost I was able to get
my dream credit card with an incredibly low interest rate."
Christopher: "I used Boost right before I started applying for
a mortgage and I believe it helped me to get my mortgage."
Nonnie: "I got approved for a credit card I wasn't approved
for last year with lower rates."
• Shari: "I've been looking to purchase a new car and since
using Boost, my interest rates are lower for car payments."
Michael: "I was able to acquire my first credit card."
•
•
•
Erica: "It has been helped me buy really good house with my
new and improved high score."
Cassie: "It was able to successfully raise my credit score
enough to secure a loan that was much needed."
Raymond: "I went through a divorce and my credit took a hit.
I used Experian to see where I was and what I was able to
do to raise my credit. Little by little, it did."
Ycatz: "I was able to get better rates on a credit card I had
been wanting to previously get but couldn't cuz my credit
score was just too low. To my surprise it actually worked. I
ended up saving 62% of what I would of without it."
Greg: "It boosted my score so I could get a car."
Recognised in Fast Company's
2022 World Changing Ideas
•
Recognised in BIG
Innovation Awards 2022
Member of Fortune's
Change the World
list 2021
FORTUNE
World
Changing
Ideas
BIG
INNOVATION
20 22
CHANGE THE
WORLD
2021
30
1.
Experian Public
Liz Weston, 'Your Credit Score: How to Improve the 3-Digit Number That Shapes Your Financial Future, 5th edition (2015). 2. results up to end of Q4 FY23
payment history on an open trade). Differs from thin file people who already have a score, but have less than 5 accounts.
3. As at Q2 FY24 4. People who go from not having a credit score to having a credit score (requires 6 months ofView entire presentation