Margin test

Day two of Experian’s 33rd annual Vision 2014 Conference in Dallas included a full morning of education on topics related to the economy and the industry. Chief investment strategist at Wells Capital Management, Dr. James Paulsen kicked off today’s events delivering a powerful keynote address on the economic and financial outlook for the U.S.

Experian kicked off its 33rd annual Vision 2014 Conference today in Dallas with the keynote address that attendees have been anticipating for months – President Bill Clinton, the 42nd President of the United States and founder of The Clinton Foundation. Although President Clinton addressed many topics in his talk including some of the important initiatives his foundation is spearheading, the theme centered around creative cooperation and the success that is achievable when people focus on their common goals. Experian hosted 32 breakout sessions throughout the day for attendees. Experian thought leaders, clients and industry experts discussed how to achieve quality growth in a challenging economic and competitive environment.

Is your organization prepared to meet these requirements? Although some of the regulatory guidance on Model Risk Governance was released recently, it is nothing new and needs to be an integral and integrated part of an organization’s way of thinking, risk management and overall business strategy.

To trust or not to trust is the ultimate question when it comes to online, card not present transactions. For e-commerce merchants and online shoppers it should be a two-way street. But far too often, a customer who should be trusted has a transaction wrongfully declined. This tarnishes their relationship with the merchant, the bank and the credit-card company, resulting in loss of revenues, interchange fees and most importantly, lifetime loyalty. The impact of consumer action in the face of a decline can have real and measurable effects on all parties, including credit card companies, banks and merchants manifesting itself in lost revenues, lost fees and lost customer loyalty. In fact, in a recently commissioned independent survey by 41st Parameter, a part of Experian, 17% of consumers surveyed had an online transaction declined. That equals about $40 billion lost each year due to false positives… $40 billion that could be reclaimed.

Increasingly Experian’s clients are questioning whether they are extracting full value from their data. There’s more data, more accessible analytic capability – there should be more value created. But this growing information asset needs to be harnessed by targeting it in the right way (generating the right insights) and having the processes to minimize the time from insight to action. Technology and techniques need to be aligned to efficiently capture, analyze and action customer insight in a concerted way, with the customer view at the center of this activity. Understanding customers’ current circumstances, and the challenges & opportunities they are likely to encounter, can help us establish what they need right now and predict their future needs. Identifying life event triggers, and effectively actioning these triggers, can help us ensure that we’re maximizing the customer’s lifetime value with the right communications, with the right content, at the right time.