Tag: Experian
Experian’s annual global fraud report reveals trends that can help organizations mitigate fraud and improve the customer experience: Apply the right-sized fraud solutions to reduce unnecessary customer disruption Ensure you have a universal consumer view Select fraud solutions that are future-proof As fraudsters evolve, losses are climbing and the status quo is no longer effective. Organizations should be as forward-looking in fighting fraud as they are in business operations and marketing. >> Global Business Trends: Protecting Growth Ambitions Against Rising Fraud Threats
According to a national survey by Experian, college students may be receiving their degrees, but their financial management knowledge still needs some schooling. The survey reveals some troubling data about recent graduates: Average student loan debt is $22,813 31% have maxed out a credit card 39% have accepted credit card terms and conditions without reading them Learning to manage debt and finances properly is key to young adults’ future financial success. Since students aren’t receiving credit and debt management education in college, they need to educate themselves proactively. Credit education resources are available on Experian\'s Website. >> Experian College Graduate Survey Report
A recent study shows that small-business credit conditions remained relatively unchanged in Q1 2016, as delinquency and bankruptcy rates held steady at low levels. Much of the slight decrease in delinquencies was driven by fewer small businesses falling within the 61 to 90 and 91+ days past-due categories. Gaining deeper insight into the health of small businesses is important for both lenders and small-business owners. Experian® provides market-leading tools that enable small businesses to find new customers, process new applications, manage customer relationships and collect on delinquent accounts. >> Q1 2016 report
According to a national survey by Experian, one in five college grads give their school an “F” in credit education. Additional survey highlights: 69% will have student loan debt after graduation 71% did not learn about credit and debt management in college 55% feel like they are “going it alone” when it comes to their finances 72% express concern about paying off their debt Credit is a skill — one that can be developed through the right education. The Experian Credit Education blog has useful information to help college grads learn the basics of credit and how they can improve their credit score. College Graduate Survey Report
HELOC originations continued to benefit from the real-estate recovery and consumer desire to tap into available equity. According to the latest Experian–Oliver Wyman Market Intelligence Report, HELOC originations totaled $37.7 billion during Q1 2016 — an increase of 14% over Q1 2015. As HELOC originations continue their growth trend, lenders can stay ahead of the competition by using advanced analytics to target the right customers and increase profitability. Revamp Mortgage Acquisition Strategies
According to a recent Experian survey, the majority of newlyweds say financial responsibility is a key quality in a spouse. Yet many neglect to discuss finances with their partner before marriage. Other factors unknown to newlyweds include: Their spouse’s credit score (40%) Their spouse’s annual income (25%) Their spouse’s long-term financial goals (31%) The amount of their spouse’s student loan debt (31%) As newlyweds face a blending of finances for a promising tomorrow, lenders can help by providing personalized credit education to start building strong relationships with these potentially loyal, creditworthy customers. Survey Results: Newlyweds and Credit
According to a national survey, many future home buyers do not feel confident about their current credit score status. In fact, 34% of future buyers said their credit score might hurt their ability to purchase a home, and 45% have delayed a purchase to improve their credit score. Many are taking action now to improve their credit. Almost 70% of respondents are paying bills on time, and 60% are working to pay down debt. Additionally, 28% of future homebuyers surveyed are keeping balances low on credit cards, while 15% are taking steps to protect their credit information from identity theft and fraud. Consumers planning to purchase a home should check their credit score now to allow enough time to ensure that the changes they make will be reflected in their score before they meet with a lender. Webinar: Sign up to hear the latest consumer credit trends.
Experian's most recent State of Credit report analyzed the average credit scores for more than 100 metropolitan statistical areas (MSAs).
Auto loan originations reached $153 billion in Q2 2014, which was a 16 percent increase over the same quarter last year. While the largest contribution came from captive auto lenders at $47 billion (a 14 percent increase), credit unions experienced the largest year-over-year increase of 35 percent, with originations reaching $37 billion in the latest quarter. As auto loan originations continue to grow, lenders can stay ahead of the competition by using advanced analytics to target the right customers and increase profitability. Learn how your automotive portfolio compares through the peer-benchmarking capabilities of IntelliViewSM, and view sample reports by industry. Source: Access the latest credit trends with Experian\'s IntelliView.
According to a recent Experian Data Quality study, three out of four organizations personalize their marketing messages or are in the process of doing so.
Consumer debt for every major consumer lending category has decreased over the past few years, except for student loans.
Data quality continues to be a challenge for many organizations as they look to improve efficiency and customer interaction.
As data breaches continue to attract publicity, consumers are expecting more from impacted organizations.
A recent study analyzing the impact of rental data on the credit scores of subsidized housing residents uncovered compelling results.
While bankcard originations increased 26 percent year over year to $85.3 billion in Q2 2014, delinquencies continued their downward trend, reaching 0.47 percent of balances — an 8 percent decline year over year.
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