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Zilch updates BNPL affordability criteria with Experian

Meeting concerns over affordability checks in buy now, pay later loans, the UK's Zilch has partnered with Experian to begin reciprocal reporting of credit data.

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Zilch updates BNPL affordability criteria with Experian

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Zilch says its current blend of CRA data, Open Banking data and its own proprietary behavioural data creates a 360 degree view of a customer’s affordability at any given time.

The agreement with Experian will add reciprocal reporting of payment plans to the CRA’s data set.

Philip Belamant, Zilch Co-Founder & CEO, says: "Zilch was built with financial health at its core, which is why we were one of the first BNPL to work with the FCA to secure a consumer credit licence. Today, by partnering with Experian, we are continuing to transform the way affordability is assessed which is the key to us delivering financial inclusion to all.”

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