Spot sudden financial change fast— with Pulse

Your no-integration ticket to gathering actionable insight on the current financial situation of your existing customers.

The benefit of being able to access the most up-to-date insight on the current financial situation of your existing customers is clear.

And in times like these, the need for that picture becomes critical. Critical because without the most timely view of your customer, you fail to keep pace with change — placing their financial health — and your loan book — at risk.

Today, incomplete data is coupled with internal challenges for lenders: stretched customer management teams who are struggling to balance overwhelmed phone lines with lengthy, manual outreach processes.

Introducing Pulse

In response, we’ve launched Pulse — a powerful new insight product to help you make sense of today’s borrowing landscape, for your existing customers.

As the UK’s fourth FCA-regulated credit reference agency, we’re well versed in the regulatory requirements lenders face. Pulse helps protect credit providers and consumers from bad debt and supports fair and FCA-compliant account handling, by enabling you to collect the most current information from your customers about their changing financial circumstances.

In extensive testing of Pulse, this discreet means of digital engagement saved lenders between £10 and £60 per customer allowing them to safely attend to customers by replacing manual customer outreach.

Getting started

With Pulse, it begins with better digital outreach. A simple SMS or email alert prompts your customers to complete an Interactive Virtual Interview (IVI) at their convenience, immediately saving your team valuable time on the phone.

Performing a credit pulse check on your existing customers, Aire’s unobtrusive IVI takes on average, between three and five minutes to complete. Pulse builds a more complete picture of your customers’ current financial situation than a CRA report, including: employment status, current working hours, income level, household bills and expenses, and levels of savings.

With over a million potential routes through the IVI, Pulse assesses the real-time affordability, stability and resilience of your existing customers, establishing a unique profile of their current financial health.

Delivering you clearer insight

With an award-winning approach to data and analytics perfected over six years, Aire is a leading advocate in ethics in credit algorithms — and it’s this approach we’ve perfected for Pulse.

Validating the information provided by your customers using a vast database of contextual information, Pulse provides an entirely unique set of insights back to you that identify:

• Validated Disposable Income — Employment and household income is validated using our unique set of context data to deliver a positive or negative GBP value of your customer’s most current disposable income.
• Risk of Financial Difficulty— Pulse signals any of the risk factors associated with financial difficulty as set out by the FCA, based on the applicant’s individual inputs during the IVI.
• Measure of Engagement — a summary of the level of completion of the Interactive Virtual Interview, providing an indication of likely future engagement to enable you to prioritise outreach.

Acting with regulatory confidence

Pulse is built specifically to adhere to established standards set out by the FCA within CONC 1.3 (Financial Difficulties) and CONC 5.2A (Creditworthiness Assessment). Our approach to modelling and messaging is informed by the Compliance Foundation and Aire has a long-established and proactive relationship with the FCA, that informs all of our thinking and insight development.

And finally, with the need for speed at a premium, Pulse’s zero integration approach to set-up allows you to benefit from actionable credit insight faster than ever. Simply tell us who you need to understand better, and Pulse takes care of the rest.

Introducing Pulse from Aire — credit insight, in a heartbeat. Find out how your business can benefit here.