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of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum
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Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
Millions of people access the internet every day using desktop computers, laptops, and mobile devices. Though an increased number of online users have been accessing the web while working from home due to the pandemic, many are still going online in public places and using public wi-fi and/or unsecured networks, such as coffee shops, airports, and internet cafes. While it may be convenient to access the internet from anywhere at any time, there are risks involved with doing so. Connecting to the internet on an unsecured network without the proper protection can render your device vulnerable to data collection, tracking, and targeting from hackers. The best way to protect yourself from these kinds of attacks is to use a Virtual Private Network, or VPN. What is a Virtual Private Network? A Virtual Private Network (VPN) creates an encrypted, private connection to the internet that allows you to securely browse the web while protecting your information from being tracked or targeted. Globally, there are approximately 1.5 billion VPN users as of 2023, making up about a third of all internet users worldwide. 43% of these people use a VPN for security reasons.[1] How does a VPN work? A VPN routes your internet traffic through a different server, rather than the server your internet service provider usually uses. The data you send and receive is then encrypted, so even if it were to fall into the wrong hands, it would be unreadable. Your data will appear to be sent from the VPN itself, instead of from your device. This provides an additional layer of privacy to your browsing experience, especially if you’re using a public or unsecured network to access the internet. How can you use a VPN? With Experian’s Secure VPN, what you search, see, and share on your mobile or desktop devices stays hidden from hackers, preventing data collection, tracking, and targeting. You can confidently connect to a stronger, more reliable, private Wi-Fi connection that secures your devices’ online or offline activity. What are the benefits of Experian’s Secure VPN? You can use Experian’s Secure VPN on an unlimited number of desktop and mobile devices, so your whole family can be protected. Secure VPN’s high-speed connection ensures that you won’t need to worry about slow loading times or dropped connections, and its unrivaled security allows you to take advantage of best-in-class privacy. Browsing the internet on an unsecured network is risky and can leave you open to data theft and identity fraud. By using a VPN, you’ll enjoy a safer, more secure internet experience. Visit our website to learn more about Experian’s Digital Privacy and Control solutions. [1]DataProt.net. VPN Statistics for 2023 – Keeping Your Browsing Habits Private.
Banking uncertainty creates opportunity for fraud The recent regional bank collapses left anxious consumers scrambling to withdraw their funds or open new accounts at other institutions. Unfortunately, this situation has also created an opportunity for fraudsters to take advantage of the chaos. Criminals are exploiting the situation and posing as legitimate customers looking to flee their current bank to open new accounts elsewhere. Financial institutions looking to bring on these consumers as new clients must remain vigilant against fraudulent activity. Fraudsters also prey on vulnerable individuals who may be financially stressed and uncertain about the future. This creates a breeding ground for scams as fear and uncertainty cloud judgment and make people more susceptible to manipulation. Beware of fraudulent tactics Now, it is more important than ever for financial institutions to be vigilant in their due diligence processes. As they navigate this period of financial turbulence, they must take extra precautions to ensure that new customers are who they say they are by verifying customer identities, conducting thorough background checks where necessary, and monitoring transactions for any signs of suspicious activity. Consumers should also maintain vigilance — fraudulent schemes come in many forms, from phishing scams to fake investment opportunities promising unrealistic returns. To protect yourself against these risks, it is important to remain vigilant and take precautions such as verifying the legitimacy of any offers or investments before investing, monitoring your bank and credit card statements regularly for suspicious activity, and being skeptical of unsolicited phone calls, emails, or text messages. Security researcher Johannes Ulrich reported that threat actors are jumping at the opportunity, registering suspicious domains related to Silicon Valley Bank (SVB) that are likely to be used in attacks. Ulrich warned that the scammers might try to contact former clients of SVB to offer them a support package, legal services, loans, or other fake services relating to the bank's collapse. Meanwhile, on the day of the SVB closure, synthetic identity fraud began to climb from an attack rate of .57 to a first peak of 1.24% on the Sunday following the closure, or an increase of 80%. After the first spike reduced on March 14, we only saw a return of an even higher spike on March 21 to 1.35%, with bumps continuing since then. As the economy slows and fraud rises, don’t let your guard down The recent surge in third-party attack rates on small business and investment platforms is a cause for concern. There was a staggering nearly 500% increase in these attacks between March 7th and 11th, which coincided with the release of negative news about SVB. Bad actors had evidently been preparing for this moment and were quick to exploit vulnerabilities they had identified across our financial system. They used sophisticated bots to create multiple accounts within minutes of the news dropping and stole identities to perpetrate fraudulent activities. This underscores the need for increased vigilance and proactive measures to protect against cyber threats impacting financial institutions. Adopting stronger security measures like multi-factor authentication, real-time monitoring, and collaboration with law enforcement agencies for timely identification of attackers is of paramount importance to prevent similar fraud events in the future. From frictionless to friction-right As businesses seek to stabilize their operations in the face of market turbulence, they must also remain vigilant against the threat of fraud. Illicit activities can permeate a company's ecosystem and disrupt its operations, potentially leading to financial losses and reputational damage. Safeguarding against fraud is not a simple task. Striking a balance between ensuring a smooth customer experience and implementing effective fraud prevention measures can be a challenging endeavor. For financial institutions in particular, being too stringent in fraud prevention efforts may drive customers away, while being too lenient can expose them to additional fraud risks. This is where a waterfall approach, such as that offered by Experian CrossCore®, can prove invaluable. By leveraging an array of fraud detection tools and technologies, businesses can tailor their fraud prevention strategies to suit the specific needs and journeys of different customer segments. This layered, customized approach can help protect businesses from fraud while ensuring a seamless customer experience. Learn more
With an ever-present need for efficiency, security, and seamless citizen services, many agencies are looking at the benefits of a data-driven government. Last year, the federal government kicked off a unified effort to enable data-driven decision making. The goal at that level – and across all agencies – is to serve citizens more efficiently and effectively. By embracing the power of data and analytics, agencies of all sizes can set themselves up to better serve their citizens. What is a data-driven government? Agencies collect citizen data from a variety of service-based sources, including the Postal Service, Census Bureau, social welfare departments, and agencies that issue government IDs. When properly leveraged, this data holds many possibilities. However, many agencies face challenges when it comes to efficient collection, sharing, usage, integrity, and accessibility. Due to the amount of data collected and the potential lack of consistency in the collection and storage techniques, the data may not be usable. Without proper management and analysis, there’s little government agencies can do with their data to improve their processes. A data-driven government has well-managed data and uses that data to drive their decisions as they relate to citizen requests for benefits, tax collection, elections, and more. What are the benefits of data-driven decision making? Data management and government data analytics enable agencies to react quickly to citizen demands and concerns and proactively anticipate an issue before it becomes a crisis. With the right tools, agencies can gain a holistic view of their citizens, communicate effectively internally, provide digitally-driven services and improve overall efficiency through government-wide data integration and management. These changes have a wide range of benefits, including reduction of cost, fraud, waste and abuse, the automation of manual processes, and better service delivery. Why is a data-driven strategy required? In addition to the benefits listed above, a data-driven strategy also helps agencies align with published NIST guidelines and the need to monitor, evaluate, and maintain digital identity systems. Proper use of data-driven digital identity strategies will enhance equity and the usability of the solutions agencies provide to their citizens. Building an effective data-driven strategy The right strategy starts with ensuring that all departments about the need for proper data management and analytics and the guidelines that will govern it, such as maintaining up-to-date data, removing silos, and leveraging the right tools. The next step is finding the right partner. An effective partner can help agencies develop and maintain data management systems and implement the right tools and analytics – things like machine learning in government – to help each agency function efficiently and safeguard the data of its citizens. To learn how Experian can help your agency improve its use of data, visit us or request a call. Visit us
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With the National Automobile Dealers Association (NADA) Show set to kickoff later this week, it seemed fitting to explore how the shifting dynamics of the used vehicle market might impact dealers and buyers over the coming year. Shedding light on some of the registration and finance trends, as well as purchasing behaviors, can help dealers and manufacturers stay ahead of the curve. And just like that, the Special Report: Automotive Consumer Trends Report was born. As I was sifting through the data, one of the trends that stood out to me was the neck-and-neck race between Millennials and Gen X for supremacy in the used vehicle market. Five years ago, in 2019, Millennials were responsible for 33.3% of used retail registrations, followed by Gen X (29.5%) and Baby Boomers (26.8%). Since then, Baby Boomers have gradually fallen off, and Gen X continues to close the already minuscule gap. Through October 2024, Millennials accounted for 31.6%, while Gen X accounted for 30.4%. But trends can turn on a dime if the last year offers any indication. Over the last rolling 12 months (October 2023-October 2024), Gen X (31.4%) accounted for the majority of used vehicle registrations compared to Millennials (30.9%). Of course, the data is still close, and what 2025 holds is anyone’s guess, but understanding even the smallest changes in market share and consumer purchasing behaviors can help dealers and manufacturers adapt and navigate the road ahead. Although there are similarities between Millennials and Gen X, there are drastic differences, including motivations and preferences. Dealers and manufacturers should engage them on a generational level. What are they buying? Some of the data might not come as a surprise but it’s a good reminder that consumers are in different phases of life, meaning priorities change. Over the last rolling 12 months, Millennials over-indexed on used vans, accounting for more than one-third of registrations. Meanwhile, Gen X over-indexed on used trucks, making up nearly one-third of registrations, and Gen Z over-indexed on cars (accounting for 17.1% of used car registrations compared to 14.6% of overall used vehicle registrations). This isn’t surprising. Many Millennials have young families and may need extra space and functionality, while Gen Xers might prefer the versatility of the pickup truck—the ability to use it for work and personal use. On the other hand, Gen Zers are still early in their careers and gravitate towards the affordability and efficiency of smaller cars. Interestingly, although used electric vehicles only make up a small portion of used retail registrations (less than 1%), Millennials made up nearly 40% over the last rolling 12 months, followed by Gen X (32.2%) and Baby Boomers (15.8%). The market at a bird’s eye view Pulling back a bit on the used vehicle landscape, over the last rolling 12 months, CUVs/SUVs (38.9%) and cars (36.6%) accounted for the majority of used retail registrations. And nearly nine-in-ten used registrations were non-luxury vehicles. What’s more, ICE vehicles made up 88.5% of used retail registrations over the same period, while alternative-fuel vehicles (not including BEVs) made up 10.7% and electric vehicles made up 0.8%. At the finance level, we’re seeing the market shift ever so slightly. Since the beginning of the pandemic, one of the constant narratives in the industry has been the rising cost of owning a vehicle, both new and used. And while the average loan amount for a used non-luxury vehicle has gone up over the past five years, we’re seeing a gradual decline since 2022. In 2019, the average loan amount was $22,636 and spiked $29,983 in 2022. In 2024, the average loan amount reached $28,895. Much of the decline in average loan amounts can be attributed to the resurgence of new vehicle inventory, which has resulted in lower used values. With new leasing climbing over the past several quarters, we may see more late-model used inventory hit the market in the next few years, which will most certainly impact used financing. The used market moving forward Relying on historical data and trends can help dealers and manufacturers prepare and navigate the road ahead. Used vehicles will always fit the need for shoppers looking for their next vehicle; understanding some market trends will help ensure dealers and manufacturers can be at the forefront of helping those shoppers. For more information on the Special Report: Automotive Consumer Trends Report, visit Experian booth #627 at the NADA Show in New Orleans, January 23-26.
The automotive industry is constantly changing. Shifting consumer demands and preferences, as well as dynamic economic factors, make the need for data-driven insights more important than ever. As we head into the National Automobile Dealers Association (NADA) Show this week, we wanted to explore some of the trends in the used vehicle market in our Special Report: State of the Automotive Finance Market Report. Packed with valuable insights and the latest trends, we’ll take a deep dive into the multi-faceted used vehicle market and better understand how consumers are financing used vehicles. 9+ model years grow Although late-model vehicles tend to represent much of the used vehicle finance market, we were surprised by the gradual growth of 9+ model year (MY) vehicles. In 2019, 9+MY vehicles accounted for 26.6% of the used vehicle sales. Since then, we’ve seen year-over-year growth, culminating with 9+MY vehicles making up a little more than 30% of used vehicle sales in 2024. Perhaps more interesting though, is who is financing these vehicles. Five years ago, prime and super prime borrowers represented 42.5% of 9+MY vehicles, however, in 2024, those consumers accounted for nearly 54% of 9+MY originations. Among the more popular 9+MY segments, CUVs and SUVs comprised 36.9% of sales in 2024, up from 35.2% in 2023, while cars went from 44.3% to 42.9% year-over-year and pickup trucks decreased from 15.9% to 15.6%. 2024 highlights by used vehicle age group To get a better sense of the overall used market, the segments were broken down into three age groups—9+MY, 4-8MY, and current +3MY—and to no surprise, the finance attributes vary widely. While we’ve seen the return of new vehicle inventory drive used vehicle values lower, it could be a sign that consumers are continuing to seek out affordable options that fit their lifestyle. In fact, the average loan amount for a 9+MY vehicle was $19,376 in 2024, compared to $24,198 for a vehicle between 4-8 years old and $32,381 for +3MY vehicle. Plus, more than 55% of 9+MY vehicles have monthly payments under $400. That’s not an insignificant number for people shopping with the monthly payment in mind. In 2024, the average monthly payment for a used vehicle that falls under current+3MY was $608. Meanwhile, 4-8MY vehicles came in at an average monthly payment of $498, and 9+MY vehicles had a $431 monthly payment. Taking a deeper dive into average loan amounts based on specific vehicle types—as of 2024, current +3MY cars came in at $28,721, followed by CUVs/SUVs ($31,589) and pickup trucks ($40,618). As for 4-8MY vehicles, cars came in with a loan amount of $22,013, CUVs/SUVs were at $23,133, and pickup trucks at $31,114. Used 9+MY cars had a loan amount of $19,506, CUVs/SUVs came in at $17,350, and pickup trucks at $22,369. With interest rates remaining top of mind for most consumers as we’ve seen them increase in recent years, understanding the growth from 2019-2024 can give a holistic picture of how the market has shifted over time. For instance, the average interest rate for a used current+3MY vehicle was 8.0% in 2019 and grew to 10.2% in 2024, the average rate for a 4-8MY vehicle went from 10.3% to 12.9%, and the average rate for a 9+MY vehicle increased from 11.4% to 13.8% in the same time frame. Looking ahead to the used vehicle market It’s important for automotive professionals to understand and leverage the data of the used market as it can provide valuable insights into trending consumer behavior and pricing patterns. While we don’t exactly know where the market will stand in a few years—adapting strategies based on historical data and anticipating shifts can help professionals better prepare for both challenges and opportunities in the future. As used vehicles remain a staple piece of the automotive industry, making informed decisions and optimizing inventory management will ensure agility as the market continues to shift. For more information, visit us at the Experian booth (#627) during the NADA Show in New Orleans from January 23-26.
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typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.