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The API economy is the latest extension of the digital revolution

Published: March 30, 2016 by Gary Stockton

Mike Myers of Experian

Mike Myers, Experian

There is a revolution going on! We are in the midst of the second phase of the digital revolution and it is being fueled by API’s.

API’s provide the access and mapping that allow access to and integration of the myriad of existing and new data sources available today. They do really helpful things like allow Uber to revolutionize the connection of riders to drivers as well as allow for quick, self-service credit decisions by integrating Experian data within Salesforce.com.

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Digital disruptors like Uber have scaled their business to massive size at breakneck speed because they can design, build and deploy solutions quickly. API’s and cloud computing play a central role in all of this. You will hear representatives from Uber share how API’s enabled the flow of Experian data through Salesforce.com enabling them to launch new business models, and enter new markets.

Listen to Mike Myers as he shares a short overview of his Vision 2016 breakout session in this short video.

Don’t miss this innovative Vision 2016 session!    See you there.

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The numbers are staggering: more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, and an average balance of $29,000. In fact, a recent Experian study revealed consumer debt is decreasing in every major consumer lending category with the exception of student loans. Student loans have increased by 84 percent since the recession (from 2008 to 2014) and surpassed home equity loans, home-equity lines of credit (HELOC), credit card debt and automotive debt. While the student loan issue has been looming for years, the magnitude is now taking center stage with each 2016 presidential candidate weighing in on solutions. In an effort to provide deeper insights into the student debt universe, Experian’s Kelley Motley and Holly Deason will share a new analysis at Vision 2016 in a session titled, Get educated – a study in the student lending marketplace. They will be joined by Gordon Cameron, executive vice president of PNC. Among the findings they will share include a snapshot of consumers with student loans from three time periods – Pre-recession (December 2007), Recession (December 2009) and Post-Recession/Current (December 2015). At each of these time periods, they will reveal trends around outstanding debt, delinquencies, originations, and also a compare how consumers with student loans rank when it comes to Vantage Score distribution. Finally, their data will explore opportunities for consolidation, showing segments that might be best suited for  receiving offers from financial institutions based on Vantage Score, debt and total number of trades. Click here to learn more about Vision 2016 and the session on student loans.

Published: April 27, 2016 by Kerry Rivera

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