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Criminals constantly search and exploit weaknesses. In this digital age, protecting people fuels our commitment to identity protection and fraud prevention.
In banking, as in baseball, data and analytics are key to making informed, data-driven decisions for your team and your business.
At Experian, for machine learning, we use Extreme Gradient Boosting (XGBoost) implementation of Gradient Boosting Machines.
Electric vehicles are here to stay – and will likely gain market share as costs reduce, travel ranges increase and charging infrastructure grows.
Dynamic pricing models for consumer financial products can be especially difficult for at least four reasons.
Experian sat down with Shawn Hanson, CEO at Marine Credit Union to get his perspective and insights about growth, risk and the underserved.
Machine learning's ability to consume vast amounts of data to uncover patterns and deliver results makes it well suited for the credit risk industry
The MOBILE Act authorizes a standard for banks to scan and retain information from driver’s licenses and id cards as part of online onboarding process.
With credit card openings and usage increasing, now is the time to make sure your financial institution is optimizing its credit card portfolio.
First-party fraud involves making financial commitments or using their own identity, a manipulated version of their own identity or a synthetic identity.
Identity-related fraud exposure and losses are increasing, and the underlying schemes are becoming more complex. To make better decisions on the need for step-up authentication in this dynamic environment, you should take a layered approach to the services you need.
Consumer credit scores A recent survey* released by the Consumer Federation of America and VantageScore Solutions, LLC, shows that potential borrowers are more likely to have obtained their credit score than nonborrowers. 70% of those intending to take out a consumer or mortgage loan in the next year received their credit score in the past year, compared with 57% of those not planning to borrow. Consumers who obtained at least one credit score in the past year were more likely to say their knowledge of scores is good or excellent compared with those who haven’t (68% versus 45%). While progress is being made, there’s still a lot of room for improvement. By educating consumers, lenders can strengthen consumer relationships and reduce loss rates. It’s a win-win for consumers and financial institutions. Credit education for your customers>
Keeping your customers happy is critical to success. And while reducing fraud is imperative, it shouldn’t detract from a positive customer experience. Here are 3 fraud detection and prevention strategies that can help you reduce fraud and protect (and retain) customers.
Believe it or not, 66% of consumers want to see some visible signs of security and barriers when accessing their accounts so they can be sure that a transaction is more secure. Other takeaways from our 2018 Global Fraud and Identity Report
Competition is fierce. Expectations are high. Navigating a new market can be profitable — if managed strategically. Consider these actionable insights when entering a new market: