Aire opens up insight service to help lenders keep pace with financial uncertainty

Aire opens up insight service to help lenders keep pace with financial uncertainty
26.03.2020 03:52 pm

Aire opens up insight service to help lenders keep pace with financial uncertainty

Risk Management , Wealth Management

Aire, the credit insight service, today announced that it is offering free access to its range of real-time credit information services for a period of three months, to help lenders identify and engage with struggling consumers during the unfolding Coronavirus crisis.

With much of the country’s workforce impacted by the government’s latest measures to curb the virus, Aire estimates that the number of people in the UK missing one or more credit payments could increase from around 700,000 last year to over 2 million in 2020. 

Gathered directly from the consumer, Aire provides lenders with a real-time understanding of their customers to assess them with greater accuracy. Insights include: job stability, as well as changes to income and household savings levels. 

Aire enables lenders to mitigate the risk of credit delinquency, while taking into account the Government’s evolving support and expectations across the credit ecosystem. Unlike traditional credit or Open Banking data that relies on accumulated historical information, Aire provides lenders with real-time insight highlighting the immediate financial situation of their customers during this uncertainty.

To accelerate delivery, Aire's light-touch deployment means the service can be delivered using a secure file-transfer process. Aire will also support a hosted SMS and email service, enabling lenders to proactively contact customers showing signs of financial stress.

Aneesh Varma, Founder and CEO at Aire, comments: “We’re seeing an unprecedented level of change in the market for consumers right now. Lenders are understandably stretched and struggling to build accurate pictures of their customers in real-time. Aire is here to help - providing lenders with an easier, digital method of engagement they can use at scale. We’re connecting lenders to their customers quicker, and backing this up with operational assistance to make this process painless for lenders and consumers alike.”

Related News

Technology will be key differentiator in risk management according to new Aite Group study

Digitalisation of risk technology will be a pivotal factor in the monitoring and management of risk during increasingly common periods of volatility and continuing market... Read more »

Wolters Kluwer Delivers Risk Mitigation Technology Solution to Navigate CARES Act Loan Complexities

 Wolters Kluwer Lien Solutions has responded to urgent client needs and established a technology solution... Read more »

State Street To Provide Central Banks With PriceStats Inflation Indicators to Assess Economic Impact of COVID-19 Pandemic

 State Street Corporation (NYSE:STT) today announced that it will offer its State Street PriceStats Series, a comprehensive suite of indicators to monitor trends in retailer... Read more »

Financial Services Firms Spend $180.9 Billion on Financial Crime Compliance, According to LexisNexis Risk Solutions Global Study

Today, LexisNexis® Risk Solutions released its True Cost of Financial Crime Compliance Global Report, which provides global industry-driven insights for financial services... Read more »

Wolters Kluwer and Vizor Software Announce Regulatory Reporting Partnership for Singapore Market

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business and Vizor Software, today announced a partnership for the Singapore market that will increase the quality of... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel