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It’s an exciting time for all of us at Experian. When I became CEO, just over four years ago, we set a clear path to put an even greater focus on our relationship with consumers and how we can help them in their financial journey. Today, as we prepare to launch Experian Boost, we are marking a major milestone in that commitment. There are more than 100 million Americans who don't have fair access to credit today. These consumers are often overlooked by lenders and forced to rely on high interest credit cards and loans. Too often they find themselves stuck in a never-ending cycle in which the best of intentions and the desire for a better financial future clash with reality. At Experian, we know that a credit score is the gatekeeper to better financial opportunities. It can make or break people’s access to the very things that help them thrive in today’s economy like getting a loan for a family car or access to a credit card with a lower interest rate. Unfortunately, many consumers have credit files that are considered too “thin”. And while they may be paying their utility, mobile phone and cable TV bills on time month after month, this responsible behavior hasn’t been acknowledged or rewarded with a higher credit score. Experian Boost changes this scenario and give consumers the credit they deserve. As a business, we want to ensure that as many people as possible can access and participate in the financial system and we believe everyone deserves a fair shot at achieving their financial dreams. Today’s Experian Boost announcement drives our mission forward by giving consumers more control over their credit score. This industry-first online platform will give consumers an opportunity to instantly improve their credit scores by adding positive telecom and utility payment information directly into their credit profile. Experian Boost is free and will be accessible to every credit-active adult in America. We recently briefed Experian’s Consumer Council, a group of 12 leaders from organizations committed to helping consumers on their financial journey, on Experian Boost with great feedback. Here’s what one of the organizations, the Credit Builders Alliance, had to say: “Limited credit activity and history are key barriers for consumers to achieve their financial goals,” said Dara Duguay, executive director, Credit Builders Alliance. “We fully support initiatives that promote financial inclusion and think Experian Boost could play an important role in overcoming that barrier. We look forward to seeing how Experian’s new platform impacts consumers.” Innovations like this and the modernization of an industry don’t happen easily. I couldn't be prouder of our employees who have been working for past three years to make this platform a reality. We are pioneering a bright future for the world of credit with Experian Boost, a product which is emblematic of the innovation culture we foster at Experian. Experian has a fundamental purpose that is shared by colleagues around the world: to strive to be a champion for the consumer. With Experian Boost, we're bringing our purpose to life and we can’t wait to share it with you. To find out more about Experian Boost, please visit: experian.com/boost.

Most of us have experienced the feeling of frustration when it comes to online security protocols. You need to log-in to an account, but you’ve forgotten your password. When you choose an option to reset your password, you are asked to answer one of your security questions. But you forget which movie you said was your favorite while you were growing up. You take a guess, but unfortunately it’s the wrong one and you find yourself locked out of your account. At this point, you’re annoyed and wonder why accessing your account is so difficult in the first place. Historically, the attempt to balance customer security and convenience has been one of the biggest challenges online businesses have faced. As consumer expectations for smooth online experiences increase, businesses aim to deliver security protocols that make customers feel safe and protected, while allowing for easy and convenient access. According to our recent Global Fraud and Identity Report, 66 percent of consumers like security protocols when they transact online because it makes them feel protected. In fact, the lack of visible security was the number one reason customers abandoned a transaction. However, while consumers may tolerate the nuisance of common barriers to accessing their accounts, including forgetting their password or having to re-renter other security controls like CAPTCHA or two-factor authentication, higher friction doesn’t necessarily mean better security or a better overall experience. If businesses were able to offer a frictionless customer experience that was as secure, if not more secure, than the experience today, they could potentially increase overall revenue and growth. One-third of the consumers we surveyed said they would do more transactions online if there weren't so many security hurdles to overcome. And the number rose even higher in different age groups. For instance, the percentage rose to 42 percent when it came to millennials. We believe that a fundamental shift in the thinking is required. No longer, should businesses attempt to balance security against consumer convenience, but rather, we believe that with the right use of technology, analytics and data, both goals can be simultaneously achieved. In the name of both security and convenience independently, we are already seeing data-driven, artificial-intelligence powered systems operating behind the scenes. We believe that a merging of these two functions will yield significant benefits for the business as a whole. For this to work, businesses will need to gain and maintain the customer's trust without the familiar perception of security. Customers want to be recognized and businesses want to address the growing fraud they are experiencing. Solutions that combine device and behavioral intelligence with other data points such as biometrics, processed via advanced machine-learning, could help businesses in the future, simultaneously recognize their customers more accurately, and do so without challenging them. Winning companies will move from balancing security against convenience, to achieving both goals via a synergistic approach, and ultimately will evolve trust through technology, data and analytics.      

I’m delighted that we’ve today announced our proposed acquisition of Compuscan, a successful and trusted provider of credit information and analytics services to organisations across South Africa, Namibia, Botswana, Mozambique, Ethiopia, Lesotho and Uganda, as well as in the Philippines and Australia. As part of the proposed acquisition, we are also pleased to include Scoresharp, Compuscan’s thriving credit risk management consultancy. Established in South Africa in 1994, Compuscan was the country’s first credit bureau for the micro finance sector, providing vital assistance at a time it was most needed.  Compuscan has since become a key player in this sector and grown into a company that operates across nine countries offering creditinformation services, decision analytics services, marketing services and loyalty/rewards services. The proposed acquisition will complement and extend the services already provided by Experian in the South African market, as well as creating significant opportunities for further growth, innovation and financial inclusion across the wider African region. We now enter a standard regulatory review process through which the competition regulator will review the proposed acquisition. South Africa is a vital hub for our regional strategy and the proposed acquisition is just one of the investments we’re making to build our presence here. We recently confirmed the upcoming launch of our new analytics platform Ascend across EMEA, with South Africa planned to be one of the first markets to benefit from its arrival. We’re excited about the potential of this acquisition not only to accelerate our innovation plans, but also to use the combined Compuscan, Scoresharp and Experian organisation to help drive financial inclusion across Africa. We look forward to welcoming the Compuscan and Scoresharp teams to Experian in due course and to bringing all of the benefits of a combined organisation to our clients and consumers across the region.