Experian Readies Agentic AI to Overhaul Legacy Lending Processes

Experian has announced the upcoming launch of a trusted agentic artificial intelligence (AI) layer within the Experian Ascend Platform that is designed to help financial services organizations scale agentic AI.

The Experian Agent Operating System will enable AI agents from Experian, clients and partners to work together, supported by clear controls, auditability and human oversight, and will support the full lending lifecycle, the company said in a Tuesday (June 2) press release.

Experian will make this solution available to early adopters later this year and then roll it out to more than 2,300 client solutions globally, according to the release.

“It brings together our unique data, advanced analytics, decisioning expertise and embedded governance within the Ascend Platform to help organizations deploy AI with confidence,” Vijay Mehta, general manager AI, Experian Software Solutions, said in the release. “This ultimately enables clients to automate key lending workflows, like fraud checks or loan approvals, in real time compared to the fragmented manual processes many rely on today.”

The first partner to integrate with Experian’s Agent Operating System will be ServiceNow. This integration will connect ServiceNow agents with the Experian Ascend Platform, per the release.

Cedric Parent, group vice president, global industries at ServiceNow, said in the release that this deployment will give financial institutions “the confidence to automate high-stakes decisions, from fraud detection to credit risk.”

PYMNTS reported in March that FinTech lenders said that automated underwriting systems, with AI in the mix, are enabling them to process large numbers of applications and expand loan originations across consumer and small business credit markets.

Experian announced in May that it launched an agentic AI partnership with ServiceNow that is designed to help businesses make better decisions with the help of autonomous AI agents.

The companies said that connecting the Experian Ascend Platform to the ServiceNow AI platform lets agents access Experian’s insights and decisioning capabilities directly within existing workflows, giving customers the opportunity to automate intelligence at scale.

Experian and ServiceNow said in May that their collaboration will support a range of use cases for businesses in highly regulated environments, beginning with third-party risk management, including fraud and identity verification for businesses, employee onboarding and model risk management.