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Tru Optik, the only audience measurement and data management platform built for OTT and Connected TV, has partnered with Experian Marketing Services to offer a service providing real-time census-level viewer data for over-the-top (OTT) TV programs and ad exposure across all screens. Tru Optik clients will be able to measure and segment content and ad exposure based on lifestyle, demographic and purchase behavior powered by Experian’s ConsumerView marketing database. Tru Optik has the world’s largest database of OTT media and entertainment consumption. Experian’s ConsumerView is the world’s largest and most accurate consumer marketing database. Together this will allow for comprehensive metrics for valuing advertising on OTT networks and platforms, and close a conspicuous gap in TV audience measurement. It’s widely accepted that digital is the future of TV. One third of Millennial television viewing already occurs “over the top,” mainly via Connected TV (CTV) devices such as Roku, Apple TV, smart TVs and gaming consoles that stream OTT content to TV screens. While OTT offers the possibility of reaching TV viewers with unprecedented precision, barely one percent of TV advertising dollars flow through OTT. There are three reasons why advertising dollars are not catching up to viewership: No measurement – advertisers have no visibility to OTT ad exposure, and can’t relate it to other media; Fuzzy targeting – the advertising industry relies on cookies or SDK’s (device-specific software development kits) to capture consumer data for ad targeting. However, CTV is a cookie-less ecosystem accessible via dozens of devices, rendering cookies useless making SDK’s impractical; No attribution – lack of measurement means there’s no way to connect OTT ad expenditures to desired outcomes like purchases. Tru Optik CEO, Andre Swanston, sums up the problem: “If you can’t fully measure it, you can’t fully monetize it. Tru Optik’s technology and first-party data combined with Experian’s data will enable media companies and advertisers to understand and value audiences for OTT content. In other words, it will provide the currency that is necessary to truly open not only the OTT ad market, but also provide better insight as to the value of product placement and licensing of content to subscription video services like Netflix and Amazon." By providing census-level audience measurement and profiling data for programming and ad exposure across OTT platforms and connected devices, Tru Optik and Experian Marketing Services have removed all three barriers to OTT advertising and monetization. Tru Optik and Experian Marketing Services use cookie-less methods that allow anonymous, aggregated behavior and profile information to be connected and protected across all digital devices belonging to the same individuals or households, including CTV. This enables “cross device” OTT and addressable campaign analysis, which is critical for accurate attribution. “Tru Optik is at the forefront of empowering media companies and brands to harness the power of CTV. By partnering with Experian they are adding a trusted and reliable source of audience and consumer data to enhance their measurement and segmentation ability,” said Kevin Dean, President and General Manager of Targeting, Experian Marketing Services. Tru Optik is careful to distinguish its offering from traditional audience measurement products. “This is not a panel based ‘ratings’ service,” said Swanston. “With respect to media companies and marketers, your data belongs to you; it is not part of a Co-op.” “Experian Marketing Services is far and away the industry leader in audience creation for addressable TV, connecting advertisers to 100 percent of the household-level addressable TV operators in the U.S. “ said David Wiesenfeld, Tru Optik’s Chief Strategist. “With Tru Optik already having the world’s largest media consumption database, the addition of purchase, preference, and profiling information from Experian will give clients unmatched insight into their audiences and marketing efficacy.”
In recent years, leasing has strongly returned as an option for consumers to choose when looking to get into a new vehicle and maintain an affordable monthly payment. Experian Automotive’s latest infographic examines the lift in leasing, as well as key attributes in the auto finance market. Click here to download the PDF.
Experian had the honor of celebrating innovative achievements in marketing with a few of our superstar clients at the 2016 Marketing&Tech Innovation Awards presented by Direct Marketing News and The Hub. The second annual awards program honors achievements in marketing leveraging data and technology. Three Experian Marketing Services’ client programs were recognized for their innovation in analytics, email marketing and omnichannel marketing. Hosted in New York City as part of the 2016 Marketing&Tech Innovation Summit, Delta, Golf Golfsmith International, Delta Airlines and American Eagle Outfitters were all recognized alongside Experian for innovative marketing campaigns that used the Experian Marketing Suite, a flexible cloud-based marketing platform. What’s hard to believe is how much marketing has changed due to data technology… and much of the credit for innovation within the space goes to the exceptional tech talent. Experian Marketing Services’ chief technology officer, Emad Georgy was recognized with a “2016 Star of MarTech” award for Marketing Technologist of the year. Through the development of the Experian Marketing Suite, Georgy created a marketing product that allows the interactions between a brand and its customers to be meaningful and engaging, every time. Georgy is an advocate for what he calls “a more human tech culture” because scalability is not just about technology and architecture — it also is about people and growing leaders. His team of developers, engineers, strategists, data scientists and technologists support clients across more than 30 countries. We published more information about the award-winning campaigns in a press release, here is a link: http://www.prnewswire.com/news-releases/experian-recognized-with-four-awards-at-2016-marketingtech-innovation-awards-300237326.html Emad Georgy as well as all three client campaigns are featured in articles in the April edition of Direct Marketing News which are available online here.
Today, we stand at the forefront of a digital revolution that is reshaping the financial services industry. And, against this backdrop, financial institutions are at vastly different levels of maturity; the world’s biggest banks are managing large-scale infrastructure migrations and making significant investments in AI while regional banks and credit unions are putting plans in place for modernization strategies, and fintechs are purpose-built and cloud native. To explore this more, I recently had the privilege of attending the annual Reuters NEXT live event in New York City. The event gathers globally recognized leaders across business, finance, technology, and government to tackle some of today’s most pressing issues. On the World Stage, I joined Del Irani, a talented anchor and broadcast journalist, to discuss the future of lending and the pivotal role of data and AI in building a more inclusive financial system. Improving financial access Our discussion highlighted the lack of access to traditional financial systems, and the impact it has on nearly 100 million people in North America alone. Globally, the problem affects over one billion people. These people, who are credit invisible, unscoreable, or have subprime credit scores, are unable to secure everyday financial products that many of us take for granted. What many don’t realize is, this is not a fringe subset of the population. Most of us, myself included, know someone who has faced the challenges of financial exclusion. Everyday Americans, including young people who are just starting out, new immigrants and people from diverse communities, often lack access to mainstream financial products. We discussed how traditional lending has a limited view of a consumer. Like looking through a keyhole, the lender’s understanding of the person in view is often incomplete and obstructed. However, with expanded data, technology, and advanced analytics, there is an opportunity to better understand the whole person, and as a result have a more inclusive financial system. At Experian, we have a unique ability to connect the power of traditional credit with alternative data, bringing a more holistic understanding of consumers and their behaviors. We are dedicated to leveraging our rich history in data and our expertise in technology to create the future of credit and ultimately bring financial power to everyone. The future of lending After spending two days with over 700 industry leaders from around the world, one thing is abundantly clear: much like the early days of the internet, today, we are at the cutting-edge of a technical revolution. Reflecting on my time at Reuters NEXT, I am particularly excited by the collective commitment to drive innovative, and smarter ways of working. We are only beginning to scratch the surface of how data and technology can transform financial services, and Experian is positioned to play a significant role. As we look to the future, I am excited about the ways we will create new opportunities for businesses and consumers alike.
We believe that financial literacy leads to empowerment. That is why Experian supports initiatives and partners with community organizations to deliver financial education. We also develop products and services that give more control to consumers over their credit profile and financial health. As part of advancing our mission of Financial Power to All®, we are proud to announce we are helping more than 5,000 Hispanic individuals nationwide by relieving $10 million dollars of consumer debt. To provide families with this boost, we joined forces with ForgiveCo, a Public Benefit Corporation (PBC), to administer the acquisition and cancellation of qualifying consumer debt for the selected recipients. Beneficiaries will also receive a one-year premium Experian membership for free that offers access to their Experian credit report in English and Spanish[i], FICO® Score[ii], bilingual educational content, and other financial resources. We hope this effort helps raise awareness of the importance of financial literacy for everyone, and that Experian has resources to help individuals reach their financial dreams. To amplify the message, we collaborated with multi-platinum, award-winning singer and songwriter Prince Royce and you can see his video here. In fact, we have been making a concerted effort the last several years to evolve our educational resources and products to better support all underserved communities. Some of our other activities include the creation of the B.A.L.L. for Life initiative that connects African American and Hispanic youth with financial education, supporting scholarships for Asian Americans through the Ascend organization, providing custom resources for Out & Equal and Born This Way Foundation for the LGBTQ+ community, supporting the NextGen Innovation Lab for Disability:IN, and sponsoring credit counseling for the military community with Operation HOPE. For resources in Spanish, Experian offers a credit e-book and consumers can access a full suite of articles at the Ask Experian blog here. [i] Only Experian credit reports are available in Spanish. All other services associated with an Experian membership are available in English only. English fluency is required for full access to Experian’s products. [ii] Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.
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.