Experian Boost Bestowed with Consumer Lending Innovation Award from FinTech Breakthrough Experian Boost Bestowed with Consumer Lending Innovation Award from FinTech Breakthrough
Experian Boost logo

Experian Boost Bestowed with Consumer Lending Innovation Award from FinTech Breakthrough

Recently the market intelligence organization FinTech Breakthrough celebrated a long list of companies and their accomplishments, announcing the recipients of their 2020 FinTech Breakthrough Awards. While these awards honored firms in a variety of categories, one of the most interesting awards was in the field of Consumer Lending Innovation, with the award going to Experian for their Experian Boost credit score product.

Introduced in nearly one year ago, Experian Boost is a free service that allows consumers to have alternative types of payments (such as utility services, telecom bills, etc.) included in their credit report to help them establish credit. According to the company, more than 2.4 million people have taken advantage of this option so far, with FICO credit scores among these consumers rising by a total of 18 million points. Experian also states that approximately two-thirds of those who use Experian Boost see an increase in their credit score, with the average raise clocking in at 13 points. Notably, for 12% of users, this gain bumps them into the next highest tier of credit. Consumers are also welcome to use Experian Boost as many times as they’d like to add further data.

Acknowledging the award, group president of Experian Consumer Information Services Alex Lintner said in a statement, “At Experian, we have a fundamental mission to be a champion for the consumer. And, like many FinTech, our goal is to help more consumers gain access to the financial services they need.” Lintner continued, “Experian Boost is an example of our mission brought to life. It’s Experian’s first and currently the only service in market from any bureau to truly put consumers in control of their credit. We’re proud of this recognition from FinTech Breakthrough and the momentum we’ve seen with Experian Boost to date.” Additionally FinTech Breakthrough managing director James Johnson stated of the award-winning product, “Experian Boost is knocking down a critical barrier for hard-working Americans, helping them build a positive credit profile. For the first time, millions of consumers can benefit from payments they’ve been making for years that were never reflected on their credit reports,” adding, “By incorporating data around responsible financial behavior that hasn’t been traditionally included in credit reports, Experian Boost represents a true ‘breakthrough’ in putting the individual in control.”

As mentioned, Experian was far from the only company recognized as several others were also named for FinTech Breakthrough’s 2020 awards. Among them, Self was awarded Best Consumer Lending Product, CIT Bank was named Best Personal Finance Product, and HSBC received the prize for Best Use of AI. Some additional awards included Best Digital Mortgage Company (Fiserv), Best Stock Trading App (SoFi Invest), Best Point of Sale Company (Toast), and Best Small Business Payments Solution (Honeybook). Those interested in learning more can view the full list of awards can be viewed on FinTech Breakthrough’s site. Meanwhile consumers can also explore the potential benefits of Experian Boost and get started with the service by visiting Experian.com.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central MarketĀ 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...