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Most of us have experienced the feeling of frustration when it comes to online security protocols. You need to log-in to an account, but you’ve forgotten your password. When you choose an option to reset your password, you are asked to answer one of your security questions. But you forget which movie you said was your favorite while you were growing up. You take a guess, but unfortunately it’s the wrong one and you find yourself locked out of your account. At this point, you’re annoyed and wonder why accessing your account is so difficult in the first place. Historically, the attempt to balance customer security and convenience has been one of the biggest challenges online businesses have faced. As consumer expectations for smooth online experiences increase, businesses aim to deliver security protocols that make customers feel safe and protected, while allowing for easy and convenient access. According to our recent Global Fraud and Identity Report, 66 percent of consumers like security protocols when they transact online because it makes them feel protected. In fact, the lack of visible security was the number one reason customers abandoned a transaction. However, while consumers may tolerate the nuisance of common barriers to accessing their accounts, including forgetting their password or having to re-renter other security controls like CAPTCHA or two-factor authentication, higher friction doesn’t necessarily mean better security or a better overall experience. If businesses were able to offer a frictionless customer experience that was as secure, if not more secure, than the experience today, they could potentially increase overall revenue and growth. One-third of the consumers we surveyed said they would do more transactions online if there weren't so many security hurdles to overcome. And the number rose even higher in different age groups. For instance, the percentage rose to 42 percent when it came to millennials. We believe that a fundamental shift in the thinking is required. No longer, should businesses attempt to balance security against consumer convenience, but rather, we believe that with the right use of technology, analytics and data, both goals can be simultaneously achieved. In the name of both security and convenience independently, we are already seeing data-driven, artificial-intelligence powered systems operating behind the scenes. We believe that a merging of these two functions will yield significant benefits for the business as a whole. For this to work, businesses will need to gain and maintain the customer's trust without the familiar perception of security. Customers want to be recognized and businesses want to address the growing fraud they are experiencing. Solutions that combine device and behavioral intelligence with other data points such as biometrics, processed via advanced machine-learning, could help businesses in the future, simultaneously recognize their customers more accurately, and do so without challenging them. Winning companies will move from balancing security against convenience, to achieving both goals via a synergistic approach, and ultimately will evolve trust through technology, data and analytics.      

I’m delighted that we’ve today announced our proposed acquisition of Compuscan, a successful and trusted provider of credit information and analytics services to organisations across South Africa, Namibia, Botswana, Mozambique, Ethiopia, Lesotho and Uganda, as well as in the Philippines and Australia. As part of the proposed acquisition, we are also pleased to include Scoresharp, Compuscan’s thriving credit risk management consultancy. Established in South Africa in 1994, Compuscan was the country’s first credit bureau for the micro finance sector, providing vital assistance at a time it was most needed.  Compuscan has since become a key player in this sector and grown into a company that operates across nine countries offering creditinformation services, decision analytics services, marketing services and loyalty/rewards services. The proposed acquisition will complement and extend the services already provided by Experian in the South African market, as well as creating significant opportunities for further growth, innovation and financial inclusion across the wider African region. We now enter a standard regulatory review process through which the competition regulator will review the proposed acquisition. South Africa is a vital hub for our regional strategy and the proposed acquisition is just one of the investments we’re making to build our presence here. We recently confirmed the upcoming launch of our new analytics platform Ascend across EMEA, with South Africa planned to be one of the first markets to benefit from its arrival. We’re excited about the potential of this acquisition not only to accelerate our innovation plans, but also to use the combined Compuscan, Scoresharp and Experian organisation to help drive financial inclusion across Africa. We look forward to welcoming the Compuscan and Scoresharp teams to Experian in due course and to bringing all of the benefits of a combined organisation to our clients and consumers across the region.  

For each of the past six years, Experian’s position on the Orange County Register’s list of Top Workplaces has continued to rise, and it’s cause for real celebration across our workforce. This marks a special year for us, as Experian North America was awarded the #1 spot on the list. “Our team members bring their own backgrounds, perspectives, and approaches to work, which together helps us make smarter decisions, develop better products and ultimately deliver more value to consumers,” according to Craig Boundy, former CEO of Experian North America. “This #1 ranking validates our commitment to embracing a truly inclusive culture where everyone has a real sense of belonging, knowing they can show up every day and be who they are, professionally and personally.”   The Power of YOU As part of this commitment, we’ve created an environment where everyone is comfortable bringing their whole self to work, regardless of differences or backgrounds. It’s about advancing a culture that not only respects differences, but actively celebrates them. We call this The Power of YOU. We celebrate our diversity through a range of fun and engaging cultural events, social clubs and volunteer opportunities with nonprofit organizations. As an example, this year we launched a variety of Employee Resource Groups (ERGs), including: Military Veterans and Patriots group African American group, Asian American group Hispanic and Latino group Namaste (Indian) group Experian Pride Network group Pictures of employees at various ERG events The Power of YOU initiative builds on the Women in Experian (WiE) group, which was formed two years ago and is focused on improving gender balance across all levels of the organization. Spearheaded by a global team of female leaders from across the business, the group focuses on helping women achieve their ambitions and build successful careers. Each month, employees meet to plan initiatives ranging from guest speakers and lunch-and-learn events to job shadowing and mentorship programs to International Women’s Day activities. Humans of Experian Another exciting initiative is Humans of Experian. This video series highlights the personal stories of employees across the organization. Each story shares an employee’s unique experiences and perspectives and illustrates what it means to be a part of our organization that values and celebrates inclusion and diversity. You can see their stories here: Innovation and Business Success Our culture of diversity and inclusion has enabled Experian to grow and evolve while remaining at the forefront of innovation. For more than 40 years, Orange County has been the heart of our North America operations. We’ve remained focused on developing a culture that achieves and sustains higher performance while giving back to the community, and we’ve strengthened the business across every front. As a result, we continue to have a positive impact on consumers, businesses and the economy with our products, technology and innovations, from finding breakthroughs around better utilizing data to identifying ways we can make access to credit faster and simpler for millions around the world. This is the driving force behind Experian being named to Forbes’ prestigious World’s Most Innovative Companies list for the last several years as well. We’re very proud to be ranked as the #1 Top Workplace by the Orange County Register for our positive workplace culture, which attracts and retains top talent in Orange County as well as our other locations across North America. Our employees are committed to helping to create better tomorrows in our communities through technology and innovation, social responsibility, and our everyday work and business purpose.