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For the seventh straight year, Experian Marketing Services secured the top spot, according to Internet Retailer’s 2014 Top 500 Guide Experian Marketing Services has once again secured the number one position as the leading email marketing provider to the greatest total of top 500 online retailers in North America. According to Internet Retailer’s recently released 2014 Top 500 Guide, Experian Marketing Services ranks ahead of all other email marketing services companies, as measured by the number of top-500-ranked e-retailers in North America using its products and services. This marks the seventh year in a row Experian Marketing Services has held the leading position. Internet Retailer’s Top 500 Guide compiles exclusive data to provide marketers with valuable insights to help grow their businesses, including insights related to what’s driving growth in online sales. The annual guide is widely recognized as the industry’s most comprehensive analysis of America’s 500 largest retail Websites, as ranked by annual ecommerce sales. “Drawing on our expertise in building scalable and reliable marketing technology as the world’s largest email service provider, our frontrunner recognition in the 2014 Top 500 Guide underpins our commitment to providing our clients with a single cross-channel platform to deliver coordinated and intelligent interactions with their customers,” said Peter DeNunzio, president of Cross-Channel Marketing at Experian Marketing Services. “There’s no question that competition is increasing in the online retail space so it’s wonderful to see so many of our clients leading the way in customer engagement year over year.” The modern-day consumer has forever changed the relationship between a brand and its customers, as well as the technology that enables marketers to maintain and grow those relationships. As one of the most highly regarded email service providers in the industry, Experian Marketing Services sends more than 14 billion email messages a month on behalf of the world’s most recognizable brands. Backed by the industry’s highest-rated client services team, Experian Marketing Services’ cross-channel marketing platform is built with the scale and flexibility to support digital programs of any size and sophistication. Learn more about Experian Marketing Services’ cross-channel marketing platform by visiting its Website. Order a copy of Internet Retailer’s 2014 Top 500 Guide by visiting it’s Website.
2014 Client Summit: Storytellers will focus on how brands can deliver authentic and meaningful customer experiences. Experian Marketing Services today announced a star-studded speaker lineup for its 2014 Client Summit to be held July 23–25, 2014, at The Cosmopolitan of Las Vegas, in Las Vegas, Nev., around the theme of “Storytelling.” The award-winning event will bring together more than 1,000 attendees from some of the world’s largest and most sophisticated brands. Marketers will hear from compelling storytellers throughout the three-day event including: • Michael Strahan, cohost of "LIVE with Kelly and Michael" and "Good Morning America," analyst for "Fox NFL Sunday" and pro football Hall of Famer • Adam Savage, cohost of “MythBusters” on Discovery Channel • Sophia Amoruso, founder and CEO of Nasty Gal, the fastest growing online retailer in the country, and author of #GIRLBOSS • Jermaine Dupri, Grammy winner and founder of Global 14 • Don Steele, senior vice president, fan engagement, multiplatform marketing at Comedy Central • Dave Beveridge, senior vice president, marketing at ShoeDazzle • Jenn McClain-De Jong, vice president, ecommerce at The Limited • Brad Nash, marketing director, email and lifecycle marketing, GameStop “Marketers need to master both the art and science of storytelling in order to resonate in a meaningful way with their customers,” said Ashley Johnston, senior vice president, global marketing at Experian Marketing Services. “For the 2014 Client Summit: Storytellers, our goal is to give marketers the right balance of inspiration, education and networking. We’ll also demonstrate the latest advancements within our marketing suite so that clients can go back to their teams with tangible strategies for creating relatable, memorable and sharable customer experiences.” At the event, executives from Experian Marketing Services will unveil the company’s latest products, capabilities, actionable case studies and groundbreaking consumer research, sharing the stage with clients and partners. Attendees can choose from nearly 50 breakout and roundtable sessions featuring speakers from Forrester Research, GameStop, Michael’s Stores, Microsoft Advertising, Yahoo!, Zappos, Hearst Magazines, AT&T, Bass Pro Shops, Williams-Sonoma, Saks Fifth Avenue, Men’s Warehouse, AOL, Associated Press, EA, Bare Necessities, Finish Line, Scripps Interactive and Western Union, among others. Breakouts will address a wide range of topics relevant to marketers, including: • Digital advertising • Mobile strategies • Response attribution • Data management • Behavioral targeting • Email to cross-channel evolution • Email creative optimization • Compliance and deliverability • Predictive analytics and modeling • Loyalty programs A highly anticipated event each summer for marketers, Experian Marketing Services’ Client Summit was recently recognized with a Stevie Award for Best Tradeshow/Conference at the American Business Awards. “I had an absolute blast at my first Summit,” said Courtney Bradley, Coordinator, Loyalty Marketing, Virgin Airlines. “Not only did we learn a great deal, but we had a fantastic time doing it! The keynote speakers were inspiring, the breakout sessions were insightful and The Cosmopolitan Las Vegas was a fantastic venue. Experian Marketing Services did an amazing job overall. I can't wait for next year!” Visit http://www.2014clientsummit.com today to learn more and to register. Space is limited and is on a first-come, first-served basis.
Earlier this week, it was reported that the Mississippi Attorney General filed a lawsuit against Experian. While not breaking news, it is important to provide context to the allegations. As the world’s largest credit bureau – and in managing more than 220 million files in the US alone – it has become commonplace to question credit reporting agencies. We are used to scrutiny of our practices – but sometimes the claims are just plain wrong. In the case of the lawsuit from the Mississippi Attorney General, we are disappointed that the state has taken this action. We feel that the lawsuit is not based on facts – even after we had fully cooperated with their investigation. As such, we intend to vigorously defend our company against these allegations. Specifically, to say we purposefully put errors on credit reports is false and unsupported by evidence, and clearly calculated to be sensational. Contrary to those allegations, Experian credit reports are used millions of times every day to accurately and quickly assess risk in lending and speed the process of making credit readily available to consumers. The Attorney General asserts that 95% of the data in our systems is accurate – but in fact, it is closer to 98% accurate. While we are proud of this accuracy rate, we continue to invest millions of dollars every year to make our accuracy rates even better. We are, in fact, working with the industry and our competitors to raise the accuracy and data quality standards for our credit reporting industry and, ultimately, to benefit consumers. Any allegation that we are operating illegally and out of compliance is false. In fact, Experian already operates in compliance with laws and under the federal Fair Credit Reporting Act (FCRA), which governs all aspects of our credit reporting business, including how we receive data, store it, transmit it and most importantly, how we allow other companies to use it and consumers to view and dispute it. Specifically, under the FCRA, consumers can view and dispute any or all of the information on their credit reports. And we recommend consumers take full advantage of accessing their free report annually at www.annualcreditreport.com. In the event a consumer finds an inaccuracy in their report, they can dispute the inaccuracy at Experian as required by federal law. While we plan to defend the lawsuit outside the lens of a public forum, it is worth noting how Experian, as a global leader, is a vital part of the credit ecosystem — empowering economic health for businesses and consumers alike. Very simply, because of what we do and what the credit reporting business offers, consumers can walk into an automotive dealership and purchase a car, they can get approved for a home loan over the phone and they can instantly get credit at their favorite retailer. Sometimes we take that for granted.
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.