Experian Open Banking

Except none of the things you mentioned actually see that number. A potential lender would just get the raw data (credit accounts opened, balances, defaults if any, etc) and then runs their own scoring algorithm to determine whether you’re eligible or not.

I don’t even see how this “boost” thing would actually work in the above scenario. Their website suggests (all the way towards the end, surprisingly) that they will only share the data with “participating lenders” (of which I doubt there are many, and they don’t seem to provide a list), so it’s very unlikely to improve your credit eligibility (especially for the important things like mortgages, where applications are manually reviewed).

It’s basically just a scam to grab data using the vague promise of improving your “credit score” (meaningless as per the above) to lure desperate people in. Remember that Experian also has a data broker business (they’ve even recently told off by the ICO for mismanaging personal data), and that is the main reason behind this new scheme.

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