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/.
2,500 university students across 16 cities have been trained by Experian's experts and young volunteers of the social responsibility project ‘Manage Your Future Now’ project. The project, which was launched by Experian to promote self-improvement among university students, female entrepreneurs, and SMEs, reached the milestone in December and the achievement was celebrated at a recent event at the Experian office in Turkey. Coming from 10 cities across the country, 42 participants gathered to share their experiences. Feedback was positive with everyone agreeing that the project has been beneficial in increasing awareness of social responsibility. The participants were presented with a certificate for their commitment and contribution to the project. ‘Manage Your Future Now’ is a partnership between Experian, the United Nations Development Program and the Habitat Association/Center and Credit Bureau. The initiative includes providing training on financial risks, responsible borrowing, financial management and the efficient management of relationships with banks and the financial sector. Didem Köprücü, Human Resources Manager for Turkey and the Middle East at Experian, said: “We are proud that more people are benefiting under the ‘Manage Your Future Now’ project. Our training is improving every year and I would like to thank all the volunteers and young trainers for their valuable contribution. “The third stage of our project in 2016 will cover financial risk management, as well as financial opportunities for entrepreneur candidates. For this stage of the project we plan to reach 3,000 students and entrepreneur candidates across 26 cities. “However, we intend to continue our project, reaching more people every year.” The project aims to reach 3,000 students by the end of March 2016.
Experian Marketing Services, a recognized leader in data-driven marketing and cloud-based marketing technology, received top honors in five categories for the 2015 Email Marketing Awards. The awards competition was presented by The Marketer Quarterly, the digital magazine for marketers by marketers. Award submissions were judged by analysts from The Relevancy Group, the parent organization of The Marketer Quarterly, and by Marketing Democracy principal Chris Marriott. Experian Marketing Services received more awards than any other Email Service Provider (ESP): Best Reactivation Email — Retail: Boden, ESP — Experian Marketing Services and Movable Ink Best Reactivation Email — Consumer: American Home Shield, ESP — Experian Marketing Services and Epsilon (agency) Best Offer Email: Chico’s, ESP — Experian Marketing Services and Movable Ink Best Triggered Email — Retail: Ann Taylor, ESP — Experian Marketing Services Most Innovative Email: DIRECTV, ESP — Experian Marketing Services and RealTime Email by LiveClicker “We’re always looking to provide the most relevant, personalized content to our customers,” said Kellen Fitzgerald, brand marketing manager at Ann Taylor. “It’s great to be recognized for using our data to better the customer experience, and Experian Marketing Services really helps us optimize this strategy with its data technology and expertise.” “Even as a tried-and-true channel, email still has so much room for innovation. Working with Experian Marketing Services has helped us optimize our data-driven email strategy and focus on bringing that innovation to everything we do,” said Stephen Lamb, Director of Marketing, Digital Commerce, Chico’s FAS. “We’re excited to be recognized for this unique campaign, which resonated with customers and drove results.” “Email has always been a crucial component of the Experian Marketing Suite, and we’re honored to have been recognized in so many different categories for unique and innovative campaigns that helped our clients reach their most valuable customers,” said Ashley Johnston, senior vice president of global marketing at Experian Marketing Services. “In today’s marketing landscape, emails need to be consistent, personalized and relevant in order to attract attention. Our goal is to help our clients do just that.” Experian Marketing Services also was recognized earlier this year with seven 2015 Relevancy Ring Client Satisfaction Awards in The Relevancy Group’s 2015 report The Relevancy Ring — ESP Buyers Guide 2015. Experian® received two Gold awards in Production Services and Integration and five Silver awards in Infrastructure Stability, Creative Services, Technical Services, Deliverability Tools & Services, and Omnichannel Marketing Capabilities. Details about all the winning campaigns are featured in the cover story in Issue 8 of The Marketer Quarterly. To view the 2015 Email Marketing Awards winners, register for a free subscription to The Marketer Quarterly at http://www.marketerquarterly.com. “We’re very pleased that The Marketer Quarterly Email Marketing Awards are recognizing some of the best email creative in the business,” added Dianna Dilworth, editor of The Marketer Quarterly. “The work we reviewed in all of the submissions is a leading indication that not only is email marketing thriving, but it’s making a significant difference in the success of businesses around the globe.”
This article published in CIO Review magazine by Eric Haller, executive vice-president of Experian’s global DataLabs, discusses the science behind Big Data and how it can be used as a force for good. According to Haller, Big Data only becomes truly powerful when it is compiled, sorted, analyzed and manipulated – when it is translated into the language of business leaders and policymakers. And so the explosion of data has driven the emergence of fields built for the sole purpose of making data usable. View the full article here.
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