a day ago
Oakbrook taps Experian ReFi tech for new personal loan
Oakbrook and Experian have launched OakbrookOne, a new type of personal loan designed to make borrowing simpler, fairer, and more accessible – particularly for those traditionally underserved by mainstream credit.
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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 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. 2 The product has already 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.'
References:
1. Source: Experian marketplace data, 2nd May 2025. A typical customer taking out a ReFi enabled loan on the Experian credit comparison marketplace has saved over £5,000 in interest over the term of a 36-month loan
2. Experian marketplace data from 10.06.25 that reported 1,000 completed Oakbrook loans with 400 (40%) being settled with funds paid out on the same day.
