Experian PLC has introduced a pair of tools to help lenders better assess prospective borrowers' ability to repay loans.

The Dublin company's Costa Mesa, Calif., unit said last week that its Income Insight service can estimate a prospective borrower's verified income and credit score. It also provides a better view of an applicant's total financial situation, including existing debt-to-income ratios, compared with previous Experian modules.

Experian said its Income View tool provides secure delivery of prospective borrowers' income tax return summaries within two days of a lender's inquiry.

Mortgage lenders already use Income View and Experian said the product can now help issuers eliminate fraud in credit card applications by flagging discrepancies in an applicant's stated income, Social Security number, filing status, name or address.

The company said it designed both tools to help card issuers further refine their risk management strategies based on the changing economy and the requirements of the Credit Card Accountability, Responsibility and Disclosure Act.

"Card issuers are looking for a broad means to assess income and assets in conjunction with prospective borrowers' existing payment obligations," said Eric Haller, Experian's vice president of marketing, said in an interview.

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