GO2bank Partners with Experian® to Offer Free Credit Features to Help Customers Quickly and Easily Build and Improve Their Credit, and Protect Their Identity
Green Dot Corporation (NYSE: GDOT) today announced it is partnering with Experian to introduce new credit features to help customers safely access and improve their credit and protect their identity on GO2bank, Green Dot's new flagship digital bank launched earlier this year.
"Every American, regardless of credit history or experience, deserves quick and easy access to their credit score, as well as tools and opportunities to improve it and save money," said Dan Henry, CEO of Green Dot. "Poor credit is expensive, particularly for the two in three Americans living paycheck-to-paycheck, and we're proud to partner with Experian to offer tools that help our customers save, stretch their money a bit further, and build a stronger financial foundation for the future."
One in five American adults are living with no credit score or are credit invisible, the majority of whom are actively looking to improve their credit. Through this new partnership, GO2bank will offer customers free access to Experian Boost to increase their FICO® Score by paying utility and phone bills, plus Experian CreditLock to help protect against identity theft.
"Collaborating with one of the fastest growing digital banks is another way Experian is working on behalf of consumers to give them more control of their credit profile and credit scores," said Jeff Softley, President, Direct to Consumer, Experian Consumer Services. "Millions of GO2bank customers will now have access to more financial tools and the one-and-only Experian Boost, which gives them an advantage; they can leverage all of these resources in one place, and potentially open more credit doors instantly."
GO2bank's expanded credit suite is offered free of charge and is designed to offer features for the customer who is struggling to get fairly priced products to improve their credit scores. Experian Boost, a feature offered for free through Experian, uses positive payment history for utility and phone bills as well as video streaming services to help consumers increase their FICO® Score, ultimately allowing them to gain access to credit with better terms. In the two years since its launch, the tool has helped nearly eight million consumers collectively increase their FICO Score by more than 50 million points. Of those users starting with a FICO Score of 680 or below, 70 percent increased their FICO® Score.
The new credit tools, offered through GO2bank, will offer seamless access to industry-leading credit tools and features, including:
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology and registered bank holding company committed to transforming the way people and businesses manage and move money, and making financial wellbeing and empowerment more accessible for all. Green Dot's proprietary technology enables faster, more efficient electronic payments and money management, powering intuitive and seamless ways for people to spend, send, control and save their money. Through its retail and direct bank, Green Dot offers a broad set of financial products to consumers and businesses including debit, prepaid, checking, credit and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. The company's Banking as a Service ("BaaS") platform enables a growing list of America's most prominent consumer and technology companies to design and deploy their own customized banking and money movement solutions for customers and partners in the US and internationally. Founded in 1999 and headquartered in Pasadena, CA (News - Alert), Green Dot has served more than 33 million customers directly, and now operates primarily as a "branchless bank" with more than 90,000 retail distribution locations nationwide. Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC8. For more information about Green Dot's products and services, please visit www.greendot.com.
Experian is the world's leading global information services company. During life's big moments - from buying a home or a car to sending a child to college to growing a business by connecting with new customers - we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 17,800 people operating across 44 countries, and every day we're investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
1 Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.