Experian Lets UK Consumers Check Credit Through ChatGPT

Experian has introduced a new feature that allows UK consumers to check their credit scores directly through OpenAI's ChatGPT. This upgrade to the Experian app marks the first instance of UK customers accessing their credit score within an AI platform, according to the company's announcement on Thursday (August 20). Edu Castro, Experian's managing director of consumer services for the UK and Ireland, emphasized the importance of accurate and reliable financial information in a news release.

He stated that the integration is key to Experian's strategy of meeting consumers where they prefer to engage with the brand and making credit understanding more accessible, particularly for younger generations who are accustomed to using AI for financial queries.

While AI is gaining popularity for managing finances, the company highlights that current AI platforms often provide generic, general responses based on publicly available data, which may not always be accurate. Experian's upgraded app addresses this concern by directly connecting users' Experian Credit Score to ChatGPT, providing a more personalized and detailed insight into their score history.

Experian's credit score is crucial for lending decisions in the UK, with the company powering the majority of lending decisions, including 8 out of 10 credit card applications. This upgrade is part of a series of AI-related integrations by Experian. In June, the company launched a trusted agentic AI layer within the Experian Ascend Platform, aiming to help financial services organizations scale AI.

Additionally, Experian recently enabled consumers to explore personal loan offers from its lending partners while interacting with ChatGPT.

These developments come as consumers become more comfortable with AI, as recent PYMNTS Intelligence research, "From First Prompt to Daily Habit: The Data Behind Rising Gen AI Reliance," reveals. The report indicates that users who already employ generative AI are increasingly relying on it, with between 58% and 69% of them using it more often now than when they first started, depending on the task.

This trend suggests a reinforcing cycle, where better tools yield better results, users learn to provide better instructions to AI, and the combination makes AI useful for a wider range of activities.