Experian Launches ChatGPT-Powered Credit Tool, Creating Direct AI Channel for Consumer Credit

Experian, a data and technology company and one of the three major credit bureaus in the United States, is making news overseas with the launch of the United Kingdom’s first ever credit score app within ChatGPT, one of the world’s most widely used AI platforms.

This new tool uses Experian credit score data to illustrate how typical credit scores compare across age groups and postcode areas, according to a press release. A ChatGPT user will get these local and demographic credit score averages in just a few seconds.

The tool also provides a simple path for consumers to check their Experian credit scores.

By bringing the power of Experian’s trusted data into a leading AI platform, users have access to information unavailable to them before, said Edu Castro, Managing Director of Experian Consumer Services UK&I.

“We’re giving people a quick and simple way to explore how their credit score compares locally and by age making it easier for them to sign up to Experian to discover their personalised score and insights,” Castro said.

Reaching New Demographics

With this new app, Experian wants to reach the younger, 18-to-34 demographic. This age group makes up more than half of ChatGPT’s user base. But they are among the least likely to check their credit scores, and Experian hopes to change that. 

Experian is also hoping to reach U.K. adults with low financial capability. ChatGPT is one way these users can engage with financial information at their own pace, and Experian wants to provide the credit component to these users. 

How many such users are there? In the U.K., 6.5 million adults had low financial capability, meaning they rated their confidence low when it comes to financial matters or managing money. And for the 92% of adults with low financial capability, this affects how they deal with financial matters. 

The Role of AI and Finances

People are moving from using apps and websites for financial information to AI environments such as ChatGPT. Rather than doing Google searches for their financial questions, more people are turning to AI conversations.

Forty-six percent of Americans have used AI, such as ChatGPT, to help with their personal finances, and an additional 50% trust AI for financial advice, according to FNBO’s Financial Wellbeing Study. 

As AI and credit partnerships grow, the AI interface may become a new marketplace for credit with ChatGPT recommending credit products, lenders, and actions for consumers to take. It all begins with a conversation as consumers ask questions to AI about their credit.

TransUnion, Equifax Make Moves with AI

TransUnion also is using AI-driven credit intelligence in its work with Google Cloud. This new AI Analytics Orchestrator Agent, leverages Google’s Gemini models and powers advanced analytics, according to a TransUnion press release.

Venkat Achanta, Chief Technology, Data & Analytics Officer at TransUnion, said the Agent is purpose‑built to deliver auditable, explainable and governed analytics.

“When combined with TransUnion analytic solutions and permissioned data access, this capability will dramatically reduce analytic cycle times — from weeks to hours or even minutes — while enabling customers to run sophisticated analyses without direct data science support,” said Achanta.

According to a press release, Equifax is leveraging AI to help its customers identify clear and actionable credit insights. Equifax has more than 400 secured or pending AI patents, with more than 40 new AI patents added in the past year.

The Bottom Line

People are seeking out financial and credit advice from AI, and Experian, which recently announced its new partnership with ChatGPT, wants to join the conversation in the U.K. More than half of ChatGPT’s user base are 18 to 34, and Experian hopes to attract new credit score customers by providing credit data on ChatGPT.

U.K. consumers with low financial capability, meaning they rate their confidence as low when it comes to financial matters, is another demographic Experian would like to reach by providing credit data to ChatGPT.