Paylaterr announced last week that it had formed a strategic partnership with Experian to enhance its capabilities to discover fraud and expand access to the most intelligent financial tools through the use of alternative data.
Paylaterr, a platform that allows consumers to spread the cost of basic bills, and integrate prevention technology and credit data in Experian in its systems.
The company said that this would enable it to discover the fraudulent activity, prevent it in an actual time, and improve the verification of identity during the movement.
In addition, Paylaterr said it will be able to take advantage of unconventional data points such as facilities payments, rental date and subscription behavior.
This is said to be designed to provide a clearer picture of financial habits, especially for consumers who lack the history of traditional credit.
“Our mission in Paylaterr is making bills payments easier and easier for everyone,” said Akim Egbimi, CEO of Paylaterr.
“The partnership with Experian gives us the tools to protect our platform from fraud and enable a broader customer base with more intelligent and more comprehensive budget insights. This is a big step forward in our goal to help people control their financial lives.”
“By combining fraud prevention and alternative data capabilities, we enable the safest transactions and help more consumers to manage their money with confidence,” said Experian’s Chellyanne Rin, Vice President of Partnerships.
The integration of Experian technology is already ongoing and is expected to be available to all Paylater users by autumn 2025.