Oakbrook and Experian have launched OakbrookOne, a new type of personal loan designed to make borrowing simpler, fairer, and more accessible – particularly for those underserved by mainstream credit.
It helps eligible customers bring their debts together into one “manageable payment, with the process handled seamlessly in the background.”
Developed using Experian’s ReFi technology, the digital journey is described as being “quick and straightforward.”
Currently, over 40% of customers taking “out an OakbrookOne loan on the Experian Marketplace have had their debts settled and funds paid out the same day.”
The product has soft-launched “on the Experian Marketplace and is now being rolled out more widely.”
The launch marks a significant milestone in “a six-month collaboration between the two organisations, focused on using data and technology to drive financial inclusion. ”
The partnership was born out of a shared commitment “to address the UK’s widening credit gap.”
Since late 2024, Oakbrook and Experian have worked together “to pilot ReFi technology with real customers.”
Over the past six months, Experian and Oakbrook “have delivered over £5 million in lending through ReFi.”
This partnership comes at a time when the FCA has “called on lenders to “step up” and fill the void left by market exits.”
OakbrookOne is a direct answer to that call – a product that “works for both lender and borrower, backed by data, and built for impact.”
Claire Smith, Head of Marketing at Oakbrook, added:
“ReFi is helping us approve more applications in a way that’s smarter, safer, and more affordable. We’ve already helped thousands of people save money and reduce their debt burden, and this is just the beginning. OakbrookOne is a gamechanger and together with Experian, we’re setting a new standard for inclusive lending.”
Jake Ranson, ReFi Managing Director at Experian, commented:
“OakbrookOne is a breakthrough for financial inclusion in the UK. By harnessing the power of our ReFi technology, we’re enabling access to credit for people who’ve traditionally been left behind. The results speak for themselves – better-performing loans, lower interest rates, and real savings for consumers.”
Experian is a global data and technology company, “powering opportunities for people and businesses around the world.”
They 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 unique combination of data, analytics and software.”
They also assist millions of people “to realise their financial goals and help them to save time and money.”
They operate across a range of markets, from “financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.”
They 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.”
Their corporate headquarters are in Dublin, Ireland.