Amazon.com, Inc. (NASDAQ:AMZN) Partner Experian To Provide Credit Scores Via Alexa

35

Amazon.com, Inc. (NASDAQ:AMZN) has added a new function to its voice-activated assistant Alexa. A partnership with credit reporting agency Experian, means users of Alexa-enabled devices can now ask the digital-assistant credit related questions, and get immediate responses.

Alexa-Experian Skill

The newly added Experian skill will allow Alexa users to get information about their FICO credit score and utilization as well as advice on various financial matters. Users will be able to get advice on what might be hurting their score and how much outstanding debt they might have.

To access the wide array of credit score related information, users will have to give their username and password by voice command as well as a four-digit personal key. Security is a top priority with the new service in the wake of a recent data breach at credit agency Equifax.

“Creating the personal key adds an additional layer of security for voice services similar to other financial skills in the Alexa ecosystem. Data between Experian and Alexa are protected via strong encryption methods that meet or exceed multiple industries and federal standards and guidelines,” said Jeremy Wasser, Experian’s Chief Product Architect.

Amazon and Experian are hoping that the new credit score skill will be especially appealing to millennials. According to MagnifyMoney, co-founder, Nick Clements, any device or service that simplifies the process of checking credit score is always welcome in the digital world.

Cost

However, cost promises to be the biggest deterrent to most people using Alexa to check their credit score given other affordable alternatives already available. Devices that support Amazon voice assistant range from $50 to $150 for the Echo Plus. In addition, one has to pay a monthly fee to enable some of the features that come with the Experian service

The Alexa/Experian service will only be made available to people who sign up for Credit Works, a subscription service for monitoring credit. Currently, there is a ‘standard’ version that is free but with limited features and services. The standard version allows people to only hear a summary of their credit, debit and credit alerts.

There is also a premium service that costs a steep $24.99 a month. The premium service allows subscribers to hear their FICO scores as well as factors that affect the score.

An ad to help with our costs