Global information services company Experian is using artificial intelligence (AI) to help scores of South Africans who have lived and worked outside the formal banking system into the network.
Experian, best known worldwide as one of the big three credit bureaus, has been steadily reinventing itself. Beyond tracking credit scores, it now builds digital tools that help banks, lenders, and fintechs make fairer, faster decisions about who qualifies for funding.
Experian Africa unveiled a new generation of AI-driven financial solutions designed to expand credit access to South Africa’s 11 million adults who remain excluded from formal finance in Sandton in early October. This includes informal traders, gig workers, and township entrepreneurs.
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“Our vision is to make access to finance a right, not a privilege,” said Experian Africa CEO Ferdie Pieterse.
In South Africa, millions earn steady incomes through side hustles, cash jobs, or informal trading. Yet remain invisible to banks that demand payslips and long credit histories. Experian’s new tools aim to bridge that gap by letting data tell a fuller story.
Its latest product, Trusso, analyses transaction data from customers (with their consent) to build a digital picture of their financial habits. From grocery purchases to rent payments, every transaction becomes a piece of evidence that helps lenders assess risk more accurately.
“Trusso turns everyday financial activity into proof of stability,” explained Francois Grobler, Experian’s Chief of Decision Analytics.
“It allows responsible borrowers who were invisible before to finally be recognised.”
Experian also introduced new machine learning based credit scores, which consider trends in income and spending behaviour, not just static credit histories. This innovation helps lenders identify low-risk borrowers who previously failed to qualify simply because they lacked formal records.
“These scores reflect real life,” Grobler said.
“They’re built to recognise people who may not have a payslip but still manage their money well.”
For SMMEs, this means shorter waiting times, more accurate assessments, and more opportunities to grow.
Funding is at the click of a button.
Perhaps the biggest boost for entrepreneurs is ExperiFin, a new digital funding marketplace developed with Finfind. The platform connects small and micro enterprises directly to banks, development finance institutions, and investors who match their funding needs.
According to Jaco van Jaarsveldt, Experian’s Head of Strategy and Innovation, ExperiFin simplifies one of the biggest barriers for small businesses: navigating complex and time-consuming funding applications.
“Too many viable businesses never get financing,” he said.
“ExperiFin helps level the playing field by making the funding process smarter, transparent, and accessible, especially for township and informal entrepreneurs.”
While AI raises questions about data privacy and fairness, Experian insists its systems are built with explicit consumer consent and ethical data use at their core.By turning invisible financial activity into visible opportunity, the company hopes to spark a shift toward more inclusive economic growth.
For small business owners who have long been told “no” by traditional banks, AI may finally be the tool that turns a closed door into an open one.
“Technology should help lenders see the people they have been missing, those earning and trading outside formal systems,” said Pieterse.
Azwi@vutivibusiness.co.za
