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As the owner of one of those increasingly popular voice-controlled assistants, I get a weekly email from the supplier suggesting new things to ask it to do or help with. Rather conveniently, this week’s update arrived this morning and includes the suggestion: “[Hello], can you do maths?”  I use the word ‘conveniently’ because among the various tasks on my to-do list today is ‘write a short blog about numeracy’. So now I have an introduction. Like literacy, numeracy – understanding and being able to apply numbers – is a vital life skill. They are both key foundations of our education from the earliest of ages and go on to support opportunity and achievement throughout our schooling, into the world of work and beyond. Low levels of numeracy in adult life can be a major obstacle to success. Most employers require at least basic maths skills. And if you struggle with numbers, making successful financial decisions about the money that going to work generates will be very challenging. But this is the reality for many adults today. In the UK, almost half of us possess the maths skills expected of an 11 year old. This is according to National Numeracy, a charity that champions the importance of good numeracy and provides tools to help people improve. So when National Numeracy asked Experian to support the UK’s first National Numeracy Day on 16 May we were delighted to say yes. I’m certainly looking forward to working alongside a number of other big brands as well as numeracy ambassadors Rachel Riley and Martin Lewis. It’s a great fit for Experian, a company with a long track record of supporting initiatives designed to help people make successful decisions, particularly around personal finances. Our learning resource Values, Money & Me is already used in primary-school classrooms around the country to help cement good financial habits from an early age. Similarly, millions of adults track the health of their credit with the help of a free Experian account, and use the built-in eligibility features to secure better deals on financial products. Like others, we firmly believe that maths skills and financial success are closely linked, so we’re delighted to be helping support and promote National Numeracy Day. We’ll be encouraging as many people as possible to tackle the National Numeracy challenge and, where necessary, to take follow-up steps to brush up on their maths skills and, as a result we hope, improve their financial futures. Written by: James Jones, Head of Consumer Affairs, UK&I

Elio Vitucci, CEO of Experian MicroAnalytics, authored the op-ed Financial Empowerment for the Emerging Market Consumer in U.S. News & World Report. To date, Experian MicroAnalytics has extended over 4.9 billion credit offers to the world’s unbanked people, and nearly half of those offers were in the past year. The new emerging market consumer is becoming empowered with tools and services needed for a better quality of life and economic vitality. Experian MicroAnalytics contributes to global progress by helping those with no credit history gain access to credit and financial products for their businesses and personal needs. In regions where financial history doesn’t exist, understanding creditworthiness is a challenge. While only a small minority of people in emerging markets have access to credit services, the vast majority have access to mobile services — most of them on a prepaid plan. As such, an alternate credit identity can now be established. Financial services in the emerging world are drastically underserving the potential banked population. Long-term economic growth in the emerging world hinges on access to financial services. Unlocking the new consumer’s credit capability is the new financial frontier. Learn more about how Experian is empowering emerging market consumers with financial products and services to improve quality of life and increase prosperity around the world.

Identity fraud is at an all-time high, and it can have devastating consequences on a person’s life. Victims of identity fraud may have to file for bankruptcy or deal with debt, which can sometimes cause personal relationships to suffer. Elderly people in particular are at the greatest risk of fraud out of any age group, as they tend to more trusting of phone calls, house calls and email scams. It’s my job at Experian to arm them with the tools they need to prevent identity fraud. The number one challenge in helping prevent identity fraud is lack of awareness. People simply don’t know all the risks, so education is a paramount priority. At Experian, we conducted research on the best way to educate different age groups, and found that it varied widely. While younger people are best reached online, older people are more responsive to face-to-face activities, which is part of the reason they are more susceptible to doorstep scams. To help educate elderly people, we found we needed to go out into the community and literally put useful information into people’s hands. As part of these efforts, my team at Experian first worked with the Outreach Solutions organization to help older people in Nottinghamshire, England, understand the dangers of fraud. The pilot campaign, “Tackling Fraud,” reached 15,000 U.K. residents over age 55, teaching them how to tackle the threat of fraud. We armed these individuals with expert advice on how to spot suspicious activity and stop it from happening to them or the people they care about. Given the success and great reception we had in Nottinghamshire, it was clear that this movement could continue growing. According to Experian research, Glasgow is one of the areas with the highest number of identity fraud cases in Scotland. We’d been testing a new television advertisement in Glasgow – marking the first time that identity fraud has ever been advertised on TV in the U.K. – so I made the case to run the next iteration of our Tackling Fraud campaign there, too. In partnership with the Glasgow Council for the Voluntary Sector, we worked with a range of individuals and community groups to provide fraud prevention training to more than 30,000 elderly people in the city.\ We’re dedicated to helping the elderly with our Tackling Fraud campaign, putting people in control of their lives by giving them the information they need to help them protect themselves. I hope that one day we can take this project throughout the U.K. Written by: Phil Rance, Director of Product Identity, Experian Consumer Services  

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Patients use self-service tools to easily connect with providers online and manage administrative tasks 24/7. Common patient self-service tools include patient portals, online scheduling and mobile registration. Self-service solutions also include robust financial tools that help patients update insurance information, get accurate estimates, apply for charity care, set up payment plans, combine payments to multiple providers or set up a fundraising page.   Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32. Heading 2 Related Posts

Amid some of the financial challenges that underserved communities experience, members across the financial services community remain committed to championing initiatives and programs that drive greater financial inclusion. In fact, collaboration has led to the inclusion of non-debt related payment information on consumers’ credit profiles, as well as digital services that make it easier to manage money. These efforts have helped to broaden access to fair and affordable financial resources for more individuals. While significant progress has been made, there is still more work to do. However, some of the misconceptions and myths about the financial services community are hindering further advancement. Debunking these myths will accelerate progress by building trust between the financial services community and consumers. Person withdrawing money from ATM contactless Myth #1: “Financial institutions have no interest in underserved consumers or credit invisibles.” The truth is, banks and credit unions want to say “yes” to more prospective borrowers, including individuals and families from underserved communities. Beyond being the right thing to do, it’s an opportunity to potentially build lifelong relationships with a relatively untapped market. A show of good faith to communities who have largely been ignored by the financial system could lead to customer loyalty that may extend to their family and friends. That’s why participants across the financial ecosystem have been proponents of including expanded data sources—such as on-time telecom, utility and video streaming service payments—on to consumer credit reports, as well as exploring other Fair Credit Reporting Act (FCRA)-regulated data sources, including payment data on short-term small dollar loans and expanded public records data. Making this data more accessible to lenders provides a more comprehensive view of a consumer’s ability and willingness to repay outstanding debt—an actionable solution to extending credit to consumers without lenders taking on additional risk. Myth #2: “There is a lack of trustworthy financial education resources.” The financial services community and affiliated organizations recognize that empowering people with financial knowledge and skillset are critical to consumers’ financial success. In fact, banks and credit unions are partnering with nonprofits and non-governmental organizations to better understand the unique challenges and opportunities within specific communities and provide relevant tools and resources. For example, Experian’s B.A.L.L. for Life (Be A Legacy Leader) program, launched in partnership with the National Urban League, serves as a catalyst for engaging with Black communities and low-income youth through live events and digital financial education. Subject matter experts, professional athletes, celebrities, and other influencers share their experiences and expertise, covering topics such as banking, credit, financial management and investing. In addition, to help people improve their financial management, Experian partners with the National Foundation for Credit Counseling (NFCC). The NFCC connects consumers with certified financial counselors to help them address various pain points, including debt management, homeownership, student loans or small business cash flow issues. Myth #3: “Underserved communities have few opportunities to build credit and enter the mainstream financial system.” People from underserved communities, as well as younger consumers and recent immigrants are often excluded from the mainstream financial system because they lack an extensive credit history. Historically, it’s created a vicious cycle; in order to get credit, you have to have credit. Fortunately, there has been a sea change in innovative solutions to address the specific needs of these populations. These include new credit scoring models and microfinancing which provide financial services to individuals who may have been excluded from traditional banking systems. In addition, by incorporating expanded data sources, such as telecom, utility and residential rental payments onto credit reports, lenders have more visibility into consumers who may have been excluded by traditional credit scoring methods.These programs help individuals and families from underserved communities establish and build a credit history that could enable loans, or the ability to rent an apartment or open their dream business. An example is Experian Boost®, a free feature that allows Experian members to contribute their history of making utility, cellphone, insurance, residential rent and video streaming service payments directly into their Experian credit profile. By incorporating nontraditional credit data like paying utility bills on time, online banking transactions, rental payments and verified income data, more people can establish a credit profile that can potentially qualify them for a loan. More Inclusion, Fewer Myths It’s encouraging that community organizations and banks are beginning to see the economic and social benefits of aligning on financial literacy and inclusion. As more initiatives come online, underserved populations will be able to establish a better financial foundation. Then, we can declare the myths to be history.