CreditProtect goes live with backing from Experian
0
CreditProtect, which leverages both traditional commercial credit reporting data and SaaS analytics, is the latest brainchild of entrepreneur Colin Porter, who previously founded CreditorWatch and Australia's newest ADI, Avenue Bank.
CreditProtect launches with access to some of illion's extensive repository of comprehensive commercial risk data used by a range of leading banks, fintechs, telecommunications, utility providers, and large corporates. As part of the collaboration, small business payment history data from CreditProtect will also be shared with illion to enhance the depth and breadth of illion's commercial risk bureau. The strategic investment in CreditProtect by Experian and data partnership with illion eliminates years of data development, allowing CreditProtect to deliver its own powerful risk insights and capabilities from day one.
Through CreditProtect, Australian SMEs will be able to access leading data at a more affordable cost, with the company harnessing AI advantages in credit reporting to provide customers with a comprehensive 'reveal report' to assess customer risks. The combination of data gives smaller businesses more information of an entity's credit history.
Speaking on the launch, Colin Porter, who spent more than a decade reshaping Australia's commercial credit industry and the past two years developing CreditProtect, said, 'Credit reporting should be affordable, transparent, and built for the businesses that need it most.'
'We're entering the market to offer real value, powered by data and scale, providing access to insights captured through AI. We have optimised our platform through smart technology choices and AI to bring the most affordable product to market. SMEs want more for less and we're here to deliver it.'
Speaking on the challenge for SMEs, Andrew Black, Chief Executive Officer at Experian Australia and New Zealand, said, 'Cash flow is the lifeblood of any small business, yet far too many SMEs are forced to take unnecessary risks simply because they lack access to the right tools. Knowing who you're doing business with—and whether they can pay on time—shouldn't be a guessing game.'
'That's why we're proud to support the launch of CreditProtect. By combining illion's deep data expertise with Colin's specialist knowledge, this SaaS platform gives SMEs powerful, easy-to-use risk assessment tools that are both affordable and accessible. It's a game-changer for businesses that need to protect their bottom line while focusing on growth.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mirror
11 hours ago
- Daily Mirror
'I'm 38 and live in a retirement village - I can't believe how cheap the rent is'
These days, the cost of living is much worse for Gen Zers and Millennials than it was for their parents or grandparents, so it's perhaps no surprise that some people are turning to unusual ways to cut costs. Rising rents, soaring bills and food inflation are leaving many people with a lot less money in their pockets, but one woman has found a way to save money by moving into her local retirement village. 'I get mixed reactions every time I tell people I live in a retirement village,' Alice Amayu writes in Business Insider. "Some people just laugh it off because they don't understand how I came to that decision." It comes as an estate agent issu es five warnings signs to look out for when buying a house' Alice continues: "Some ask, 'Isn't that depressing?' while some family members initially thought I was way too young to live around seniors. I get it — it's not typical to find a 30-something in a retirement village. But every Wednesday morning when I join my silver-haired neighbours for a game of bingo, I realize it's the best decision I've ever made.' Before she took the plunge and moved into a retirement village, Alice had moved out of the home she shared with her ex-partner and had been living in an Airbnb, which was proving costly. Then one weekend, she mentioned she was househunting while visiting her aunt at her retirement village, who told her there was a home available just around the corner. 'I didn't see how I could get into the retirement village when there was an age stipulation, but she assured me they had made exceptions before,' she continues. 'She was confident, and told me the village's homeowners' association reviewed applications on a case-by-case basis.' That was over a year ago and although she initially saw it as a stepping stone she says she's so happy she'll be staying put. And not only has Alice learnt how to be a better friend and neighbour, but she is also saving a fortune - because rent for her two-bedroom apartment is 500 Australian dollars, inclusive of the service fee. That's much less than the going rate for most apartments of the same size in Melbourne, where a two-bedroom typically goes for AU$2800 to AU$3200. 'My days often start the same way,' she added. 'I'm woken up by the faint sound of my neighbour's golden oldies. I drink coffee while reading the newspaper, enjoy a walk, and watch the occasional cat sunbathing. "As members of the village strive to stay fit and have fun, I've joined chair yoga classes, cycled now and then, attended bingo at the clubhouse every Wednesday, and spent my afternoons freelancing. 'Evenings are also simple. I walk to the nearby grocery store or diner, bake, or sit on the porch and go down memory lane in unending conversations. I've been living in the retirement village for a little over a year. I've stopped considering it a stepping stone to a better place, and I now see it as my home. "I've never felt out of place, and living around people who are not in a rush to live life or consumed by tech has been great for my mental health. It's a kind of haven. "My neighbours talk about their life experiences, the books they've read, the jobs they miss, and offer unsolicited yet meaningful advice. My new home has reshaped my life ambitions and the way I view aging. "I've found immense peace here, and it's my definition of a wonderful life. It's comforting to know that the 70s and 80s aren't so bad after all. As I've learned from those around me, you can still have agency, volunteer, make friends, and start new hobbies, no matter your age."
Finextra
a day ago
- Finextra
Experian launches AI assistant to streamline model risk management
Experian today announced the launch of Experian Assistant for Model Risk Management, a first-of-its-kind solution to help financial institutions govern and manage models more efficiently across the entire model development lifecycle. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Fully integrated into the Experian Ascend Platform™ and powered by ValidMind technology, this solution helps accelerate model validation, improve auditability and transparency, and may aid financial institutions in reducing regulatory and reputational risk. This launch follows last October's introduction of the award-winning Experian Assistant and its AI-enabled model-lifecycle features. 'Manual documentation, siloed validations and limited performance model monitoring can increase risk and slow down model deployment,' said Vijay Mehta, EVP, Global Solutions and Analytics, Experian Software Solutions. 'Adhering to model-risk-management guidelines can be a tremendous strategic advantage for financial institutions when they can create, review and validate documentation quickly and at scale, and this new solution offers these capabilities.' As financial institutions accelerate innovation, they must balance the move toward GenAI-enabled capabilities with compliance to global model-risk-management guidelines such as SR 11-7 (US) and SS1/23 (UK). Experian Assistant for Model Risk Management offers financial institutions with customizable, pre-defined templates, centralized model governance repositories, and transparent internal workflow approvals—empowering them to meet regulatory guidelines with confidence and efficiency. 'Our partnership with Experian represents a major step forward in operationalizing AI for governance and model risk management,' said ValidMind CEO Jonas Jacobi. 'By embedding ValidMind's automation and governance capabilities into the Experian Assistant for Model Risk Management, we're helping financial institutions move faster and satisfy regulator expectations.' 'The combination of Experian's commercial expertise and presence with ValidMind's technology provides the foundation for scalable and explainable AI across the credit and risk lifecycle,' said Sid Dash, Chief Researcher at Chartis. 'This partnership addresses a growing industry imperative – the need to establish proper AI governance that aligns with an evolving technology and regulatory environment and provides a framework for institutions to modernize their model risk practices.' Why It Matters • Accelerates time-to-market by streamlining model documentation and approvals, reducing internal approval time by up to 70% and enabling financial institutions to deploy models more quickly. • Replacing manual processes with automation speeds up the creation, maintenance and validation of complex documents for data collection and model development. • Streamlines a validation team's efforts by quickly accessing and creating consistent reports. • Provides the ability to monitor models with reporting insights to ensure confidence in a model's performance and value. • This launch further strengthens the award-winning Experian Assistant product family, extending trusted automation and GenAI capabilities from model development into model governance. Why Choose Experian Assistant for Model Risk Management: • Model-Risk-Management Excellence – Simplify model documentation efforts via automation, guided workflows and seamless tool integration. • Reduced Risk – Enhance consistency to better align with evolving regulatory guidelines and help mitigate the risk of compliance failures and fines. • Enhanced Connectivity – Access to Experian analytics experts and Ascend Ops™ for model registration and deployment, model monitoring, and scenario planning, ensures robust oversight and operational efficiency.
Fashion United
a day ago
- Fashion United
Seafolly to open debut US flagship store in Corona Del Mar, California
Australian swimwear brand Seafolly is set to open its first-ever flagship store in the United States as part of its retail expansion. Slated to open on August 7 in Corona Del Mar, California, the opening comes as Seafolly continues to invest in strengthening its brick-and-mortar footprint. Located at 932 Avocado Avenue, the brand selected this particular location for its debut US store because the neighborhood 'immediately resonated' with Seafolly. The area is best known for its golden beaches, welcoming spirit, and love for the coastal lifestyle, all of which epitomize the brand's energy. In addition, the plaza is located in a prime area that aligns with Seafolly's values and commitment to offering quality products. 'Expanding into the US is a natural progression for Seafolly as we aim to bring our iconic Australian beach lifestyle to a global audience,' said Brendan Santamaria, CEO of Seafolly, in a statement. Interior of Seafolly's debut US flagship store Credits: Seafolly 'Opening our flagship store in Corona del Mar marks a significant milestone for us and presents an exciting opportunity to connect with new and existing customers who share our passion for coastal living, effortless style, and premium swimwear. We look forward to becoming a part of the Corona del Mar community.' The brand currently operates a series of stores across Australia and Singapore. Over the years, Seafolly has built a strong wholesale presence across the US in retailers including Nordstrom, Revolve, and Everything But Water. Founded in Australia in 1975, Seafolly is known for its bright, colorful yet laid-back designs. The brand has grown steadily over the years, gaining a global fan base due to its unique, quality beach designs. In 2020, Seafolly briefly entered into administration due to the 'crippling' financial impact of Covid-19, and was later sold in 2023 by private equity owner L Catterton to Bondi Brands Group in a deal that was valued at 70 million dollars.
