Zopa is now using data from Experian Boost to support its credit decision-making process.

Experian Boost is a service which aims to help consumers improve credit scores using transactional information like total current account incomings and outgoings, as well as regular payments to digital streaming providers, savings accounts, and council tax.

Whether customers apply for a Zopa credit card through the FinTech, Experian, or another third-party site, their boosted Experian credit scores will be considered.

The move comes after Zopa announced a £75 million equity fundraise, which it said would help drive the next phase of its growth.

“Zopa always puts customer fairness and transparency at the heart of its offering and this partnership with Experian is true to that vision, giving people access to fair and good-value credit,” said Tim Waterman, chief commercial officer, Zopa. “Experian Boost is an important resource for users to potentially increase their credit scores and take further steps to improve their score over time.”

Both Experian and Zopa customers will receive a reduced APR when they apply for a Zopa credit card using Experian Boost data.

Consumers can also connect to Experian Boost via Open Banking by voluntarily adding real-time information to support their credit score.

"Experian Boost was launched to make affordable credit more inclusive for all consumers across the UK, and we’re glad that our partnership with Zopa is enabling us to continue to work towards this goal,” said Sigga Sigurdardottir, managing director, consumer services at Experian.

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