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October is National Cyber Security Awareness Month, and Experian’s ProtectMyID® issued its new survey results about cybersecurity. The study, conducted by Edelman Berland, reveals areas where consumers’ identities are the most at risk, including electronic devices and online accounts. The findings show that 93 percent of respondents believe that identity theft is a growing problem yet are not doing enough to address the issue.

Experian–Oliver Wyman data reports $120 billion in new home-equity credit loans in past year; Q2 2014 saw new mortgage originations totaling $292 billion Costa Mesa, Calif., Sept. 29, 2014 — Mortgage origination volumes saw an increase of 15 percent in Q2 2014. Home-equity line of credit (HELOC) lending saw the biggest gains, according to Experian, the leading global information services company, as reported in its quarterly Experian–Oliver Wyman Market Intelligence report. Is the home refinancing boom over? “Home lending had an incredible two-year period from Q2 2011 to Q2 2013, with $4 trillion in mortgage origination volume; 71 percent of that, or $2.9 trillion, came from home refinancing,” said Linda Haran, senior director of product management and strategy for Experian Decision Analytics. “A look behind those numbers tells us that the total dollars originated over the past four quarters are about $1.3 trillion versus $1.8 trillion, showing a 30 percent decrease in annual origination volumes from the refinancing boom.” “However, those last four quarters show us that the mix of purchase-to-refinance volume has shifted to a fifty-fifty split between refinance and purchase volume activity. This equates to new purchase activity increasing by 22 percent in Q2 2014 from last year, signaling that consumers are getting back into the market. In the long term, this appears to set up the market for continued purchases into spring and summer of 2015.” $35 billion in new HELOC lending from Q2 2014 Home-equity lending increased 25 percent in Q2 2014 totaling $35 billion in new HELOC originations compared with Q2 2013. Looking at the past 12 months, HELOCs totaled $120 billion in new originations, representing a 27 percent increase compared with the previous 12 months. HELOC lending growth seen across all regions Double digit growth was seen in all regions compared to the numbers reported one year ago.  The two regions that led the trend in increasing HELOC origination volumes were the West Coast and the Northeast — with 27 percent and 15 percent year-over-year growth, respectively. California accounted for the highest volume of HELOC dollars originated in Q2 with $5.9 billion, followed by New York with $2.2 billion and Pennsylvania with $2.0 billion. Make sure to join us for the Q3 2014 Experian–Oliver Wyman Market Intelligence Report webinar. About the data The data for this insight and analysis was provided by Experian’s IntelliViewSM product. IntelliView data is sourced from the information that supports the Experian–Oliver Wyman Market Intelligence Reports and is accessed easily through an intuitive, online graphical user interface, which enables financial professionals to extract key findings from the data and integrate them into their business strategies. This unique data asset does this by delivering market intelligence on consumer credit behavior within specific lending categories and geographic regions.

Experian Marketing Services, a recognized leader in data-driven marketing, today unveiled OmniView™, a persistent data-linkage technology that creates a real-time single customer view, as part of the Experian Marketing Suite. The single customer view, or persistent identity, created by OmniView allows organizations to increase the precision, authenticity and sophistication of their marketing campaigns across channels and devices. Since introducing the industry’s first linkage-technology product, Experian Marketing Services has been the go-to resource for identity-linkage issues among database and customer relationship management (CRM) marketers. With the launch of OmniView, Experian Marketing Services extends its market-leading linkage expertise beyond database and CRM marketers to the digital-advertising industry. OmniView resolves pivotal issues plaguing advertising effectiveness, including data quality, accuracy, authenticity and precision. OmniView creates a persistent identity that gives key players within the digital advertising ecosystem — including advertisers, publishers, digital analytics providers and data management platforms — the ability to verify, match and manage identities efficiently in a privacy-protected way from all data sources. “The advertising industry needs a common denominator — a ubiquitous, consistent and persistent link across all channels — to execute legitimate 1-to-1 marketing, and OmniView is that common denominator,” said Rick Erwin, president, consumer insights and targeting, Experian Marketing Services. “OmniView breaks new ground in identity linkage technology in that it gives advertisers the ability to verify, understand and engage with their customers at a scale and accuracy that is unprecedented. This has been the centerpiece of Experian Marketing Services’ strategy for more than 20 years.” A single customer view for addressable advertising According to recent research from Experian, 99 percent of companies believe that achieving a single customer view is important to their business, but only 24 percent say they have a single customer view today. For solutions where media is being activated in addressable advertising, OmniView is the linkage engine that connects an advertiser’s or marketer’s CRM data to Experian’s data, as well as media channels, in a secure, privacy-compliant manner. OmniView gives advertisers a single customer view by establishing identification keys for consumers at an individual, household and address level that serve as a common denominator between all data sources. OmniView is built to process and reconcile large amounts of fragmented data from both third- and first-party sources, including social, email, mobile and transactional data. OmniView features a real-time application programming interface that allows marketers to understand the behavior of their customers as they move in and out of channels and make “in the moment” marketing decisions. A high-speed, high-scale platform, OmniView delivers results in real-time or batch processing. For example, marketers can connect a social-media follower to a display-advertising campaign and know if that follower made a purchase in a brick-and-mortar store. A central element of the Experian Marketing Suite’s Identity Manager, OmniView stands out from other linkage technology products in market through its accuracy. It leverages the most accurate data and the most accurate linkage technology in market. Experian Marketing Services’ linkage capabilities excel in reliability and accuracy, with accuracy rates of two times, three times and five times greater than other major vendors. This accuracy ensures meaningful experiences for the consumer that fosters loyalty and repeat purchases to the brand. Learn more about OmniView: http://ex.pn/1mEn5qO

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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.