Under the new partnership, Aire will provide its credit assessment technology to N Brown. This will enable N Brown, which operates online stores such as JD Williams to get a fuller picture of online customers and analyse the benefits and risks that come with each individual.
The technology that Aire provides combines Artificial Intelligence (AI) with data science, allowing N Brown to reach a wider group of customers. The use of AI will enable N Brown to access more personalised data information about its customers so it can best provide the right services.
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Matt Davies, head of partnerships at Aire, said: “It has been a busy six months at Aire, in which we have shown that our assessments are fit for the new realities of how we live, work and shop.
“The partnership with N Brown is another proof point for the fact that our technology is flexible enough to be used in very different scenarios and at all stages of the credit cycle.”
Stuart Daniels, head of credit at N Brown, added: “We are delighted to have partnered with Aire on the use of their technology in our creditworthiness assessment. Not only will it lead to better outcomes for our customers, it fits with our Financial Services strategy of delivering agile deployments of cutting-edge technology and data modelling.”
The announcement comes after new research findings from on an online survey of 2000 UK adults, which was conducted by Populus. The findings point to the growing importance of accurate customer assessments in the retail sector as retailers continue to take on the role of traditional lenders.
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