The global financial data firm says the age of financial disruption has prompted a greater need for data services especially in the marketplace lending sector. It claims to be able to help platforms attract more consumers, reduce fraud risk and navigate the complex world of regulation and compliance.
"We believe that our expertise in data and analytics will be vital to the Marketplace Lending Association's members as they drive the development of forward-leaning services that expand consumer and small-business access to fair and affordable credit."
Experian has for some time been active in the marketplace lending space, providing consulting services to consumer and small-business lenders.
The Marketplace Lending Association (MLA), which was founded by Lending Club,Prosper and Funding Circle in April 2016 , is a professional trade association for platforms operating in the online lending industry.
"On behalf of the membership, I am pleased to welcome Experian to the Association," said Nathaniel Hoopes, executive director, Marketplace Lending Association. "We look forward to working with Experian to help advance our shared goals of fostering innovation to improve access to credit for consumers and small businesses."
The MLA also onboarded nine new member platforms, in addition to a pair of associate members in January. They are: Affirm,Upstart,CommonBond,Avant,PeerStreet, Marlette Funding, Sharestates, Able and StreetShares, while data analytics firm dv01 and conference organiser LendIt join as associate members.