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.
Read Moreio55 Button 2- Learn more Primary button Secondary button Related Posts
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/.
While the runways boast couture and fashions that you rarely see walking down the street, some of the top cities in the U.S. are keeping comfortable in their sweats. For the second year in a row, the nation’s top per capita consumer of sweats is Philadelphia, PA while New York was seventh, Los Angeles ranked eighth, and Chicago was twentieth. The top 10 cities for sweats consumption: Philadelphia, PA Hartford, CT Pittsburgh, PA Lafayette, LA Laredo, TX Boston, MA New York, NY Los Angeles, CA Victoria, TX Scranton, PA Perhaps these purchases are travel-related. Spirit Airlines passengers are the biggest buyers of sweats, followed by Jet Blue, Continental and US Air. Foreign airlines have really high sweat purchase numbers too – especially Asian carriers. On the flip side, Southwest Airlines passengers buy the fewest number of sweat apparel items. Source: Experian Marketing Services Simmons Photo: Shutterstock
According to a new study by Experian Marketing Services, niche social networks significantly increased their market share of all visits to social sites, with Instagram and Pinterest leading the pack. The following graph illustrates the global growth between July 2011 and July 2012, based on share of visits to all sites by country: Other niche social networks that have experienced significant gain include Stock Twits in the US, Redidt in Australia, and FanPop in the UK. According to Bill Tancer, head of Global Research at Experian Marketing Services, the growth of Instagram and Pinterest over the past year has been successful because they haven’t tried to be ‘another Facebook.’ Both networks are image based – something people love and relate to better than just words. For retail brands, sites like Pinterest present a great opportunity to promote products in a compelling and organized way to a wide group of people, globally. Deeper functionally, combined with a lower technical barrier to entry, will result in new leaders in social media being created, accepted and used within a matter of days – compared to the rate of adoption happening now over the course of weeks and months. Also included in the study for July 2011 to July 2012: What social networks do you use most frequently? Do the results of this study surprise you at all? Feel free to share your thoughts with our readers in the comments section below.
Experian Marketing Services is hosting its annual Digital Summit (today through Friday) at the Venetian Hotel in Las Vegas. This premier digital marketing event, with the theme, “Customer Obsession: Empowering Meaningful Relationships,” features highly engaging and inspiring learning sessions, providing marketers with key insights and best practices for keeping their customers at the heart and center of everything they do. Attendees are learning from marketing experts about the latest trends in digital marketing across email, mobile, social, search and display. In addition, content from the event delves deep into understanding the new American consumer and the latest in cross-channel marketing. Here are a few highlights from today’s Digital Summit main stage and breakout sessions: And here are some of our favorite tweets: Learn more about the 2012 Digital Summit and follow along on twitter #CMSummit and view photos on our Pinterest board. View this blog tomorrow for updates.
In this article…
