Cazana and Experian have announced a new partnership, which sees Experian and Cazana’s data sets merge to help lenders understand risk.
AI technology from Cazana provides an alternative view to traditional methods for the current and future value of vehicles, both of which are an essential part of the lending process to ensure a low risk, fair priced finance product is offered to car buyers, it says.
Cazana’s chief executive Tom Wood said: “We’re extremely excited to have partnered with Experian to bring our vehicle data to more lenders within the UK financial services sector.
"Experian’s reach and credibility in this sector is unparalleled and we’re delighted that they have chosen to partner with Cazana as a preferred valuation provider within the sector.
“This latest partnership is testament to Cazana’s innovative approach to vehicle valuations, possible only because of our stellar team of developers and data scientists.
"We’re very pleased to have secured a distribution partner in Experian which will really accelerate our mission to become global vehicle valuation provider of choice”
Experian will be Cazana’s exclusive distribution partner in the financial services and banking sector for the next five years.
Experian’s managing director of data services Lisa Fretwell said: “Our partnership with Cazana is really exciting for our automotive customers as they use data to create a competitive advantage for their businesses.
"Cazana brings real advances in vehicle valuation data to increase accuracy throughout the lending lifecycle, allowing our customers to make better decisions, sharpen their business effectiveness and drive customer loyalty.”