The technology is to be used in predicting customer delinquency.
The collaboration is designed to prove assess the financial situation of TFS customers within ‘customer delinquency’. For Aire, this is the first time that its solution will be used to support the lifecycle management of customers’ accounts.
The announcement comes at the same time as the publication of new research findings from an online survey of 2,000 UK adults, which was conducted for Aire by independent research agency Populus.
The findings show the importance of a more sophisticated approach to credit assessments in the car leasing space, especially for groups such as freelancers who often find it harder to secure credit due to the nature of their work status.
While the average payment for monthly car leases in the UK is £93 per month, freelancers pay almost 30 per cent more with £120 on average.
Aneesh Varma, co-founder and CEO of Aire said: “The higher payments for freelancers are down to two factors: On the one hand, many freelancers are self-employed drivers, and their cars therefore need to be of higher value and quality. On the other hand, the average taxi driver with their own car will find it harder to get an appropriate deal for their car lease, simply because many credit scorers have not yet adapted to the way many of us work and live today.”