Experian Powers OakbrookOne to Extend Fairer Debt Consolidation Loans to Previously Declined Borrowers

Experian Powers OakbrookOne to Extend Fairer Debt Consolidation Loans to Previously Declined Borrowers

(IN BRIEF) Experian has enabled the launch of OakbrookOne in collaboration with Oakbrook, leveraging its ReFi™ technology to provide a streamlined debt-consolidation loan that delivers rapid approvals and same-day funding for over 40 percent of borrowers. Since late 2024, the platform has issued in excess of £5 million in loans, producing average customer savings of £5,000 over 36 months. The product responds to an FCA call for expanded credit access by combining data-driven risk assessment with consumer-friendly terms, driving both enhanced approval rates and responsible lending outcomes.

(PRESS RELEASE) LONDON, 20-Jun-2025 — /EuropaWire/ — Experian has partnered with Oakbrook to launch OakbrookOne, a next-generation personal loan solution underpinned by Experian’s ReFi™ technology that extends fairer, more affordable credit to consumers who were previously declined. OakbrookOne simplifies debt consolidation by bringing multiple obligations into a single loan, with Experian’s automated data-driven processes ensuring rapid approvals and seamless fund disbursement.

Early performance metrics reveal that more than 40 percent of borrowers on the Experian Marketplace secure confirmation and receive their OakbrookOne funds on the very same day. Since the pilot rolled out in late 2024, Experian’s ReFi™ platform has facilitated over £5 million in lending through OakbrookOne, empowering customers to achieve average interest savings of £5,000 over a typical 36-month term.

This initiative directly addresses the UK’s widening credit gap at a time when the Financial Conduct Authority has urged lenders to broaden access following recent market exits. By integrating advanced analytics and flexible underwriting, Experian’s ReFi™ system not only enhances approval rates but also maintains responsible lending standards, benefitting both lenders and borrowers.

Jake Ranson, Managing Director of ReFi™ at Experian, commented “OakbrookOne exemplifies how data and technology can transform financial inclusion. Our proprietary ReFi™ algorithms enable creditworthy individuals—previously shut out of mainstream loans—to access competitive rates and manageable repayment plans. The results are clear in the stronger performance of these loans and significant consumer savings.”

References:

1. Source: Experian marketplace data, 2nd May 2025. A typical customer taking out a ReFi enabled loan on the Experian credit comparison marketplace has saved over £5,000 in interest over the term of a 36-month loan

2. Experian marketplace data from 10.06.25 that reported 1,000 completed Oakbrook loans with 400 (40%) being settled with funds paid out on the same day.

What is debt consolidation?

Debt consolidation is when you move some or all of your existing debt from multiple accounts (such as credit cards and loans) to just one account. To do this you’d pay off – and potentially close – your old accounts with credit from the new one. Your debt won’t disappear, but it will all be in one place. It often involves switching to a lower or no interest balance transfer card or debt consolidation loan for a fixed period, allowing you to potentially save on interest for a period of time, saving you money and allowing you the opportunity to pay off your debt faster as a result of paying less in interest during that period or restructuring your repayments to make your monthly repayments more affordable by repaying over a longer period of time, however, this could cost you more in interest over time, even if the interest rate is lower.  You can read more about OakbrookOne or debt consolidation on the Experian website here.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realise their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 23,300 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

About Oakbrook

Oakbrook is a consumer lending business on a mission to change lending for the better. Based at Scale Space Nottingham, it is part of the portfolio of businesses supported by the UK’s leading venture builder, Blenheim Chalcot.

Oakbrook’s in-house technology and analytics consumer lending platform, supports a multi-product, multi-brand strategy and digitally enabled customer services.

Oakbrook brings together people with deep expertise in consumer lending, advanced analytics and forward-thinking technologists, with a shared belief that there’s a better way to do consumer lending by being more personalised and customer focused.

Media Contact:

Eliza Odire-Boadi
Consumer PR Manager, Experian UK&I
Tel: 07816192572
Email: eliza.odire-boadi@experian.com

SOURCE: Experian