Greater transparency in buy now, pay later activity is key to helping consumers build their credit histories and supporting responsible lending.
Experian North AmericaScott Brown, Group President, Financial Services
Affirm plans to report all pay-over-time loan products issued from April 1, 2025, and beyond, including Pay-in-4. The move will help drive greater transparency into the buy now, pay later market while helping consumers build their credit histories over time.
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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.
The advertising ecosystem has seen significant transformation over the past few years, with increased privacy regulation, changes in available signals, and the rise of channels like connected TV and retail media. These changes are impacting the way that consumers interact with brands and how brands understand and continue to deliver relevant messages to consumers with precision. Experian has been helping marketers navigate these changes, and as a result, our marketing data and identity solutions underpin much of today’s advertising industry. We’re committed to empowering marketers and agencies to understand and reach their target audiences, across all channels. Today, we are excited to announce our acquisition of Audigent—a leading data and activation platform in the advertising industry. With Audigent’s combination of first-party publisher data, inventory and deep supply-side distribution relationships, publishers, big and small, can empower marketers to better understand their customers, expand the reach of their target audiences and activate those audiences across the most impactful inventory. I am excited to bring together Audigent’s supply-side network as a natural extension to our existing demand-side capabilities. Audigent’s ability to combine inventory with targeted audiences using first-party, third-party and contextual signals provides the best of all worlds, allowing marketers to deliver campaigns centered on consumer choices, preferences, and behaviors. The addition of Audigent further strengthens our strategy to be the premier independent provider of marketing data and identity, ultimately creating more relevant experiences for consumers. To learn more about Experian and Audigent, visit https://www.experian.com/marketing/ and https://audigent.com/.
Technology is a high priority for most brands. Organizations often want to bring in the next technological prodigy to develop a successful platform or gadget. But successful technology teams go beyond the end product. Successful technology teams are constructed of team members who have a sense of purpose, and understand the goals they are working towards. But in order to create a powerhouse team, technology leaders need to invest time into their people. In this Entrepreneur article, Emad Georgy, chief technology officer for Experian’s Cross-Channel Marketing discusses daily practices all leaders should adopt when building a winning team. By incorporating these practices into their work environment, leaders are better positioned to build a successful team, and make a positive impact for their clients.
Experian was recently named one of 2016’s Top 100 Fintech Companies by American Banker, joining the ranks of companies such as Thomson Reuters and FIS. This announcement comes less than two months after being named among Forbes Magazine’s Top 100 “World’s Most Innovative Companies” for the third year in a row. Ranking near the top at #13, this American Banker listing is further evidence of our commitment to innovation and creating a better world through data. All of us at Experian take this commitment very seriously, and we’re proud that every day our data and analytics are helping people and businesses to achieve more. The American Banker and Forbes rankings also confirm that Experian is much more than a credit bureau. We believe data has the power to transform lives and societies for the better, and we’re making sense of it in powerful new ways that others can’t. One example of our innovative approach to solving big-picture problems around the world is our Experian DataLabs, staffed by teams of scientists with Ph.D.’s and applied research practitioners with expertise in advanced analytics and machine learning. This team helps businesses solve strategic marketing and risk-management problems through advanced data analysis. Using applied research and development we work to increase profitability, optimize data assets, control financial risk and ensure regulatory compliance for our clients. We’re also looking at data in new ways to help companies better identify fraud to protect themselves and the customers they serve. Experian’s innovative capabilities also help people get the financial services they need. We’re uncovering new, ground-breaking ways to build clearer pictures of people’s financial situations, and we’re helping people use these insights to take better control of their future. By collecting, combining and analyzing data, Experian is powering opportunities to help people plan for and build a better tomorrow. I’m confident that we’ll continue to take hold of these opportunities to unlock the true power of data in the years to come.
Experian’s Group President of Marketing Services Steve Wagner was recently named Secretary of the Data & Marketing Association’s (DMA) Executive Committee. Elected at the 2016 &THEN global conference hosted in Los Angeles, Wagner joins a group of C-suite level executives from marketing brands, agencies, tech companies, data companies and media companies who serve as DMA Officers and Board members. This coalition of partners is focused on elevating DMA’s mission to champion deeper consumer engagement and business values through the innovative and responsible use of data-driven marketing. Wagner’s election to the executive committee is a reflection of the importance of understanding insights gleaned from big data, which work to power opportunities for marketers to better reach their target audiences. “Unleashing the power of data to drive decision-making is now more critical than ever before in targeted marketing,” said Wagner. “Experian uses big data to help build healthy, robust businesses that better understand their customers’ unique needs and interests, and use that intelligence to predict trends and plan for the future.” When DMA launched in 1917, it united a small group of marketers in Chicago to fight postal regulations. Today, DMA is comprised of data scientists, data technologists, data-inspired designers, creative experts and data-driven marketers, and boasts a network of more than 1,400 member companies representing nearly 100,000 members and participants. In his expanded role, Wagner will work alongside this like-minded group of individuals who are committed to powering opportunities through data. Wagner joined the DMA Board of Directors in April 2016. In addition to his new role as Secretary, he now acts as Chairman of the nominating committee for new DMA board members. The marketing industry is better understanding how to leverage big data as an increasingly vital tool. Being the trade body for the industry, DMA’s shifted focus to data-driven marketing is a recognition of that transition in the marketing industry which views data as an expanding resource to identify and fulfill customer’s needs and interests in a way that improves their lives—seamlessly and efficiently. Recently, along with announcing Wagner’s appointment, DMA rebranded itself with the growing role of data in marketing and advertising, from the Direct Marketing Association to the Data & Marketing Association. At Experian, we view data as a powerful key that unlocks endless opportunities for the future. We know that by unlocking the power of data, we can help marketers better reach their audience and maximize every opportunity while exposing consumers to products that suit their lifestyle. Wagner’s appointment to the Executive Committee of the Data & Marketing Association reflects the increasingly important role that data plays in the marketing industry, as well as the leading role that Experian is playing to help transform the industry.
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