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Experian kicked off its 33rd annual Vision 2014 Conference today in Dallas with the keynote address that attendees have been anticipating for months – President Bill Clinton, the 42nd President of the United States and founder of The Clinton Foundation. Although President Clinton addressed many topics in his talk including some of the important initiatives his foundation is spearheading, the theme centered around creative cooperation and the success that is achievable when people focus on their common goals. Experian hosted 32 breakout sessions throughout the day for attendees. Experian thought leaders, clients and industry experts discussed how to achieve quality growth in a challenging economic and competitive environment. View slides from today's presentations:  Know your enemy – a financial institutions best practices for preventing the latest fraud attacks Customer acquisitions in a changing digital landscape The new world of commercial lending – optimizing opportunities and winning new customers Trends in commercial card and small business lending The evolving landscape of customer management To trust or not to trust Regulatory requirements for model risk governance continue to evolve And check out some favorite tweets from today's conference.

Is your organization prepared to meet these requirements? Although some of the regulatory guidance on Model Risk Governance was released recently, it is nothing new and needs to bean integral and integrated part of an organization’s way of thinking, risk management and overall business strategy. Many organizations have recently invested in this area.  Given the significant time and resource required and the need to know and follow industry best practice, these same organizations have reached out and partnered with Experian as their trusted advisor.  Experian has helped all types and sizes of financial institutions to not just ensure regulatory and compliance demands are met but to meet their business needs and objectives, protect their safety and soundness and increase profitability and return.  Experian has played whatever role needed, whether it is analytics, modeling, consulting or simply staff augmentation, for many of the Top 5 U.S. Banks and international banks in addition to mid-size to small banks, financial institutions and credit unions. One important outcome of the financial crisis of the late 2000’s was increased regulatory oversight which includes an emphasis and need to track changes in the economic environment, as well as, ensure proper application of model development, implementation, use and governance in order to make sure there are no undue risks and ensure the safety and soundness of the institution.  This is clearly not a one-time exercise but a valuable on-going part of proper risk management that will lead to better decisions and enhanced business performance. Let Experian help show you the way! Vision 2014: Regulatory requirements for model risk governance from Experian Business Information Services Tweet This! Changes in economic environment or misapplication of models exposes an organization  Click to Tweet Regulators expect greater use of risk models as result oversight increased to review the mgmnt of these models http://ex.pn/RodDsG  Click to Tweet Model Risk Governance not new concept, but emerging best practice for model risk attribute stability mgmt http://ex.pn/RodDsG #vision201  Click to Tweet  

To trust or not to trust is the ultimate question when it comes to online, card not present transactions. For e-commerce merchants and online shoppers it should be a two-way street. But far too often, a customer who should be trusted has a transaction wrongfully declined. This tarnishes their relationship with the merchant, the bank and the credit-card company, resulting in loss of revenues, interchange fees and most importantly, lifetime loyalty. The impact of consumer action in the face of a decline can have real and measurable effects on all parties, including credit card companies, banks and merchants manifesting itself in lost revenues, lost fees and lost customer loyalty. In fact, in a recently commissioned independent survey by 41st Parameter, a part of Experian, 17% of consumers surveyed had an online transaction declined. That equals about $40 billion lost each year due to false positives… $40 billion that could be reclaimed. What’s even more distressing for consumers, however, is how they FEEL when their online transaction is declined. 83% of those surveyed felt upset, embarrassed or just plain angry. These powerful emotions are evident in WHO the consumer blames for the unwarranted decline – the simple fact is that consumers blame everyone; from the issuing bank to the credit network to the online merchant. Bottom line; everyone loses. Unnecessary operational costs. Decreased loyalty. Interchange loss. Lost revenues. These are just some of the negatives to unwarranted CNP transaction declines. This session will explore how to improve customer service and loyalty by leveraging information merchants and issues already have about consumers – including their buying patterns, methods and payment and devices they use. The combination of these and other factors creates a TrustScore which helps both the merchant AND the issuer determine if these are consumers that can be trusted – even if they only shop with a merchant on a casual basis.  Recognizing customers through trusted digital identities and approving more CNP transactions in real-time provides the opportunity for online retailers to collectively boost top-line revenues by as a much as $1 billion annually. Vision 2014: To Trust or Not To Trust from Experian Business Information Services Tweet this! $40B lost each year b/c unnecessary red flags raised & transactions blocked http://bit.ly/41stinfo #vision2014  Click to Tweet 38% of online shoppers blame their credit card company for CNP http://bit.ly/41stinfo #vision2014 Click to Tweet What’s the key to commerce in the digital world? Trust. How do we know that? Here’s the data to prove it. http://bit.ly/41stinfo #vision2014  Click to Tweet [INFOGRAPHIC] How to foster consumer trust in a digital world http://bit.ly/41stinfo #vision2014 Click to Tweet