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If you’re anything like the millions of people who counted down the hours until the Breaking Bad series finale, then you too were sitting on the edge of your seat waiting to see how it would all end. But now that it’s all over, what do we have to keep the memories of a show that’s captivated us for the last five years? Fans of the show don’t have to look too far to answer that question, as vehicles used during filming are now up for auction through ScreenBid, the world’s best source for certified authentic, screen-used Hollywood memorabilia and collectibles. Experian Automotive has also joined in the effort to preserve the show’s history, as it’s providing complimentary AutoCheck vehicle history reports on most of the Breaking Bad vehicles up for auction through the ScreenBid website. The AutoCheck reports give bidders access to detailed insights into each vehicle’s history prior to its casting on the show. With this extra layer of information, those looking to take home a piece of Breaking Bad history will be able to set expectations for their potential purchase. Some of the vehicles up for auction include Walt’s infamous 2004 Pontiac Aztek, Skyler’s 1991 Jeep Grand Cherokee and Jesse’s 1982 Chevrolet Monte Carlo, among others. Breaking Bad fans have until Monday, Oct. 7 to bid on any of the priceless memories up for auction. To view a full list of the items, visit www.screenbid.com.
Today Experian announced five high-level appointments to its North American Credit Services group. Filling these crucial leadership roles are five seasoned women who have a proven track record of success with Experian. These women include: Genevieve Juillard, President, Consumer Information Services Hiq Lee, President, Business Information Services Laura DeSoto, Sr. Vice President of Marketing, Business Information Services Michele Pearson, Sr. Vice President of Indirect Sales, Credit Services and Decision Analytics Robin Norris, Chief Financial Officer, Credit Services While this may read like a typical senior appointment announcement, I believe that it is much more important than that. Being a woman with nearly 20 years of working in a variety of industries, this is an announcement that personally resonates with me. These women have earned their places in an industry in which many may argue is predominately led by men. I have had the opportunity to work with all of these women at one point or another (some more than others) and have seen first-hand the talented, smart and inspiring women that they are. Many of them have children and have managed to juggle their work/family balance while still maintaining their extensive grasp on the credit industry and steadily climbing the corporate ladder with elegance and grace. I’m a member of the PR group here at Experian and while it’s part of my job to promote news, it is not necessarily my job to create a post like this one. I wanted to personally share this post because the diverse workplace and cultivation of growth we have at Experian is something that I feel strongly about. You can read more about all five of these women here and learn more about what they are tasked with in these new and challenging roles.
Most people will tell you that they’re extremely proud when their hometown or current city accomplishes something. Hometown pride is why people are diehard fans for the local professional or college sports teams. Knowing that their city shines bright in any light, gives people a good feeling inside. With that said, people in the New York Metro area should have a strong sense of pride in how their businesses are performing. According to Experian’s Q2 Metro Business Pulse analysis, which looks at the top metropolitan areas in four key business credit categories, businesses in the New York area had the lowest average bankruptcy rates in the quarter, at just 0.28 percent. Those in the Nassau, NY; Baton Rouge, La; Honolulu; and Miami areas also have reason to be excited, as their businesses rounded out the top five with the lowest rates in this category. Another group of people who have reason to celebrate are those who live in the San Francisco area. Businesses there paid their bills an average of 3.2 days beyond contracted terms (DBT), more than 2.5 days less than the national average of 5.7 DBT. Businesses in the Omaha, Neb.; New York; Seattle; and Milwaukee metro areas also finished paying their bills faster than the national average. On the flipside, businesses in the Fort Myers, Fla. region took the longest to pay their bills, with businesses paying 18 days beyond contracted terms. The Orlando, Fla. Las Vegas; Miami; and Fort Lauderdale, Fla. metro areas rounded out the bottom five slow payers. The analysis also showed that all metro areas in the top five of business delinquency rates were well below the national average of 9.64 percent. Salt Lake City area businesses had the lowest business delinquency rates in Q2 at 0.92 percent, followed by Boise City, Idaho (1.62 percent); Houston (2.19 percent); San Diego (3.13 percent); and Tucson, Ariz. (3.17 percent). Conversely, businesses in the Miami metro area had the highest delinquency rate of 44.72 percent, followed by Fort Myers, Fla.; Orlando, Fla.; Cincinnati; and Fort Lauderdale, Fla. To view the full analysis, visit our Metro Business Pulse website. For more information on this report and other business-related insights, visit www.Experian.com/b2b.
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.