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We welcome today’s recommendations, which will help deliver a better and more equitable credit market for everyone. Comprehensive, accurate data delivers better outcomes for consumers, and bringing more data into the CRA ecosystem will further improve those outcomes. We are pleased to see the regulator taking action to ensure the UK financial system remains one of the most effective, innovative and competitive in the world. Experian shares the FCA’s view that there are opportunities to improve the operation of the credit information market in the UK, and was happy to co-operate fully with the FCA’s team during the multi-year Market Study process. A number of the remedies outlined in the FCA report were supported by Experian in a 2018 white paper, The Future of Credit Information. Amongst other things, this included establishing a base level of credit data for regulated CRAs to give consumers and lenders a clear, consistent baseline for credit reporting, while encouraging a competitive and innovative environment for non-regulated credit data and accurate insight. Experian aims for consistently excellent data across its enterprise. It invests continuously to improve data coverage, accuracy, timeliness, richness and increase credit visibility of consumers to the financial system, and it continues to innovate to improve credit outcomes for consumers.

It continues to astonish and amaze us that the majority of the men and women who enlist in our nation’s military bring immense commitment but very little money. When you’re an E5 or lower military rank with a family living in Southern California, the cost of living in this region can be financially challenging. Delilah Moreno Denny remembers earning $13,000 a year during his first year in the Army and the “pass the hat” exercise during morning formation when someone in the unit had a new baby. Delilah served in the Army reserve while pregnant, and her unit gifted her a basket full of diapers. As co-executive sponsors of the Military, Veterans, and Patriots (MVP) Employee Resource Group at Experian, we sought to continue that kindness and found Support The Enlisted Project (STEP). Our members have organized virtual baby supply drives and helped at the warehouse. Denny Galiano STEP fills the gap for enlisted members in many ways. We’re proud that Experian is expanding our partnership by bolstering its Emergency Financial Assistance (EFA) program through our United for Financial Health initiative. EFA helps soldiers, sailors, airmen and marines learn about financial literacy and credit. Many of our enlisted members join the military just out of high school without basic financial education about credit, balancing a checkbook, saving for the future, or managing debt. EFA helps military members move from financial crisis to financial self-sufficiency so that they can have a more stable future during their service and when they become veterans. As supporters of STEP and its mission, and as veterans, we’re excited that our relationship is evolving from providing basic needs to helping create a better tomorrow for our nation’s military service members. It is our honor to continue serving our U.S. Armed Forces community by providing resources that will lead to financial empowerment.

Bloor Research recently named Experian a Champion in the latest Data Quality Market Update 2022. Bloor’s Market Update specifically provides individuals with a technology update and ranking of vendors based on their products and progress in the market. Experian was the only vendor placed in the Champion category. Data quality is the foundation for any data-driven organization. However, many organizations still struggle to achieve the needed quality data necessary to feed critical initiatives. In our most recent research report, we discovered that 85% of businesses believe poor quality contact data for customers negatively impacts their operational processes and efficiency. To solve these challenges, data quality solutions continue to evolve. Leveraging trustworthy data equips organizations with the power to make their data actionable and fit for a purpose. Our research also showed:  89% say that implementing data quality best practices has improved their business agility 87% believe that data quality is fundamental to the core of business operations 91% say investing in data quality has positively impacted business growth  In effect, this empowers business leaders to make better and faster decisions when outlining key operational strategies and initiatives. Since three quarters of businesses who have improved their data quality in the last year say they have exceeded their goals in some manner, we find that organizations that emphasize data maturity are more likely to experience success. Experian has a long history in the data quality space, starting with our address validation solutions. However, as data usage has evolved, so have our solutions. We incorporate cutting edge technology paired with an easy-to-use interface that allows individuals at all levels of the business to better understand the quality of their data and improve this important asset. A high degree of automation and precision will be required as businesses tackle today’s challenges related to data quality. At Experian, the overarching goal is to help clients maximize their potential with the power and confidence supplied by superior quality data—the cornerstone of success in today’s digital-forward realm of business operations.   Explore our data quality solutions today to find out for yourself what makes us data quality experts. Click here to start your free trial.