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Experian launches Experian Lift to provide more holistic view of credit risk

Experian announced Experian Lift, a new suite of credit scoring data designed to help lenders made decisions on applicants with a combination of traditional and alternative credit data with trended data assets, which are designed to give a more holistic view of credit risk.

The announcement follows the launch earlier this year of Experian Boost, which allows consumers to add telecom and utility payments into their credit scores as a way to provide a more complete risk analysis.

"There are more than 100 million consumers who are restricted by the traditional scoring methods used today," Greg Wright, executive vice president and chief product officer for Experian Consumer Information Services, said in a company release. "We're committed to improving financial access while helping lenders make more informed decisions."

Experian developed the new suite in collaboration with Experian DataLabs, its advanced analytics and research group, to provide data that show a consumer's behavior over a 24-month period to give a more accurate picture of consumers who may have a limited credit history.