All posts by Carrie Janot
According to the latest Experian-Oliver Wyman Market Intelligence Report, HELOC originations increased 21% year over year, moving from $25.6 billion in Q1 2014 to $31 billion in Q1 2015.
According to Experian’s latest State of the Automotive Finance Market report, auto loan balances reached an all-time high of $905 billion in the first quarter of 2015.
A recent Experian Automotive analysis found that consumers who purchased an alternative-powered vehicle did not just go Green by cutting back on fuel; they also used more green (cash) to purchase it.
Data migrations are very common in today’s business environment. A recent Experian Data Quality study found that while 91% of businesses engage in data migrations, 85% encounter significant challenges.
Mortgage originations kicked off Q1 2015 with a 25% year over year increase to $315 billion.
According to a recent Experian Marketing Services study, informational or "thanks for joining" messages drive significantly higher open and transaction rates than promotional emails, as well as higher revenue per email.
In today's data driven world, decisioning strategies can no longer be one-dimensional and only risk-focused. By employing a multidimensional decisioning approach, companies can deliver the products and services customers need and want.
With more than one-third of customers interacting with a single business in five or more channels and more than 85 percent of consumers using online or mobile to conduct business, omnichannel fraud prevention has become a necessity. Implementing a layered approach to authentication and integrating device intelligence into the process to associate a consumer with a known device are critical components of a fraud mitigation strategy. In addition to providing another layer of validation, verifying a customer through his or her device makes it easier for the customer to interact with the business and is a huge benefit to the overall customer experience. Perspective paper: Protecting the customer experience - The impact of fraud on the customer relationship
Data quality continues to be a challenge for many organizations.
While the average bankcard utilization rate hovered around 20% during the last quarter of 2014, utilization rates can vary greatly when analyzed by VantageScore® credit tier.
Gift cards are the most requested gift item and have been for the last eight years. Merchants love gift cards because they take up very little space and the recipient often ends up spending more than the value of the gift card.
A comprehensive customer-experience strategy can give companies the competitive edge needed in a market where price, products and service can no longer be considered effective differentiators. Capturing customer insight is critical to developing a sound customer experience strategy, yet research shows that while 85 percent of companies collect such feedback, only 15 percent take action on it as part of their strategy. Delivering a consistently successful experience across all channels leads to more customers who buy more, stay longer and cost less to serve. Companies can drive value and loyalty by taking aggressive steps to develop an in-depth understanding of their customers and then plan, design and implement a structured, comprehensive customer experience program. The New Customer Experience – An Experian White Paper
According to the latest research by Experian Marketing Services, nearly a third of all Americans use at least one type of smart or Internet-connected device* (wearable fitness tracker, smart watch, smart TV, smart home technology). While smart TVs have generated the most consumer interest, at least 14 percent of homes are smart homes (connected lights, locks, thermostats, window coverings, etc). Further, the smart home device category saw the most growth during the holiday season, with interest increasing 54 percent from November to December 2014. By 2020, the number of Internet-connected devices is expected to grow to 26 billion, creating new revenue streams and opportunities for marketers. Understanding how to reach customers in this newly connected world and creating resonant messages will be critical to future business success. Source: Experian Marketing Services, The Internet of Things: Opportunities through the rise in smart devices *Does not include smartphones, tablets or computers
According to a recent Experian credit-trend analysis, bankcard originations for all of 2014 totaled $318.7 billion, a 20 percent increase over 2013 originations of $266.5 billion. The growth trend demonstrates the importance of staying abreast of the latest credit trends in order to adjust lending strategies and capitalize on areas of opportunity. Discover key steps to developing a profitable bankcard campaign.
The experience of being a victim of data breaches has created a shift in consumer behavior and attitude over the past year. A recent Ponemon Institute study found that more than one-third of consumers ignored data breach notification letters, taking no action to protect themselves against fraud. To combat data breach fatigue, companies should communicate with customers sincerely and avoid treating the notification process as a compliance issue. Notification letters should include an apology, a clear explanation of what happened and why, and steps consumers can take to protect themselves from fraud. 2015 Data Breach Industry Forecast
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