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This week, Experian is participating in the Money 20/20 conference at the Aria Resort and Casino in Las Vegas. This premier conference highlights innovators that are profoundly changing how consumers and businesses manage, spend and borrow money. At the conference, Experian is providing a comprehensive view on customer intelligence and how we can be a data partner in helping businesses make powerful decisions that help acquire, grow and protect mobile customers. The Experian team has hit the ground running and if you are attending the conference, be sure to check out all of the ways to meet up with us and stay connected.

New research shows email marketers are two times more likely than all other marketers to integrate customer data across all channels According to a commissioned study conducted by Forrester Consulting on behalf of Experian Marketing Services, maturity in cross-channel marketing is low and, despite the adoption of multiple channels in marketing programs, integration and coordination do not occur consistently. The global research study, entitled The Road to Cross-Channel Maturity, also found that marketers seasoned in email, more than any other digital channel, are in a position to be the ones to lead the transition to the cross-channel marketing era. A complimentary copy of the study can be downloaded at Experian Marketing Services’ Website. Please visit http://ex.pn/ZDxdEQ. In particular, Forrester Consulting found that marketers around the world struggle to integrate data sources and adopt effective data-management practices. Only 24 percent of marketers surveyed said they use contextual data and customer data for a real-time view across channels. Sophisticated email marketers demonstrated significantly higher rates of data-usage best practices, which was twice as much as the average respondent. Practices among marketers in Asia-Pacific (APAC) countries demonstrated the highest prevalence of this mature use of customer data at 36 percent, with China leading the pack at 47 percent. APAC also led other regions in overall cross-channel marketing maturity. Seventy-five percent of marketers that Forrester Consulting identified as “sophisticated marketers” use data in real time. In the study, Forrester Consulting states “…an email can provide a consumer with information or incentive to engage with other channels. As one of the most reliable, consistently used channels, email has an opportunity to be more than another transaction-driving medium… With cues from email, marketers can better provide interactions in other channels and touch-points.” The Forrester Consulting study recommends that marketers identify where email is most relevant and influential in the customer’s path to purchase and then incorporate additional channels along the path that tie all the communications together. To understand marketers’ maturity in cross-channel marketing, Experian Marketing Services commissioned Forrester Consulting to evaluate digital marketers’ attitudes about, experiences with and challenges related to cross-channel marketing, as well as the role email marketing has and will have in delivering cross-channel interaction. Forrester Consulting surveyed nearly 500 digital-marketing executives in various industries in North America, Europe, Asia and South America, including decision makers responsible for search, email, social, Website, mobile and display marketing strategy execution. It also conducted in-depth interviews with senior executives in the United States and Canada. A Webcast about the study conducted by Forrester Consulting and commissioned by Experian Marketing Services is available to view on demand at http://ex.pn/1Ftjhyx.

More than 10 years ago I spoke about a trend at the time towards an underutilization of the information being managed by companies. I referred to this trend as “data skepticism.” Companies weren’t investing the time and resources needed to harvest the most valuable asset they had – data. Today the volume and variety of data is only increasing as is the necessity to successfully analyze any relevant information to unlock its significant value. Big data can mean big opportunities for businesses and consumers.

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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.