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Today I testified before the U.S. House Committee on Financial Services. Many important questions were asked: Are we doing enough to ensure the accuracy and security of consumer data? What are we doing to help promote financial inclusion so that millions of American consumers can finally gain access to the credit they deserve and need? On behalf of everyone at Experian, I was proud to share with the committee that financial inclusion is part of our sense of purpose. This sense of purpose is what drove us to create game-changing initiatives like Experian Boost, which will help millions of Americans instantly increase their credit scores and gain access to better financial opportunities. I also commented to the committee that nothing was more important to us than ensuring the security and accuracy of consumer data, and our mobile-optimized online dispute resolution service is evidence of that ongoing commitment. You can read the full text of my written testimony here. However, the issues discussed today need to be part of a larger and ongoing dialogue. Credit is vital to buying a place to live, a car to drive and paying for everyday expenses. We know we have a special responsibility to play in what is arguably one of the most effective credit ecosystems in the world. We take that responsibility very seriously. But we also know that winning the trust of consumers is something we need to consistently earn. We hold ourselves accountable for doing that every day and agree with committee members that everyone involved in consumer credit should do the same. We are proud of what we have accomplished so far, but we know we can and must go further. We need to constantly strive to reinvent what is possible by leveraging new technologies and innovative solutions. Today’s consumers and even our lending customers should expect nothing less from us. And Congress has an important role to play, too. We strongly support legislative initiatives like the Credit Access and Inclusion Act, which would amend the Fair Credit Reporting Act and allow positive consumer credit information, such as on-time payment histories, to be shared with consumer reporting agencies. This proposed legislation would also remove barriers to financial inclusion, such as state and local laws that prevent public utilities from sharing positive customer payment data. While many voices need to contribute to a robust dialogue on the future of the credit economy, it seems clear that the most effective solutions will stem from consumer demand and not legislation or regulation. There are over 100 million American consumers who don't have access to credit today, either because their credit scores are too low, or because they don't have enough credit history. Most of these individuals have never heard of Experian and have little if any idea of what we do. That’s ok. We know the struggles they face and we have some ideas on how we can help make a difference. In many ways we already are and we’re ready to roll up our sleeves to do even more in the future. Millions are counting on us.

The following is written by Mike Kilander, Global Managing Director, Data Quality, at Experian With companies facing increasingly complex data challenges that can determine the success or failure of their business, never has it been so important to have accurate and reliable data. Businesses encounter almost continuous disruption – frequently driven by accelerated data insights – and increasing regulatory pressure to improve transparency and ensure consumer privacy. Moreover, the modern consumer brings online expectations and digital demands, requiring companies to respond ever faster and more  than before. One-to-one marketing has become the new digital experience. To handle these new digital demands and market pressure, organizations must improve their ability to leverage their data and gather key insights, especially on their ever-changing customers. But while there is more information available than ever before, data is a largely untapped resource. Why are we drowning in data, yet starved for insight? There are two key areas where organizations are struggling: developing trust in the accuracy of their data and gaining access to it. Organizations told us they suspect almost a third of their data is inaccurate, which limits their ability to leverage data to drive improved business outcomes.  If you can’t trust your information, how are you supposed to make big strategic business decisions with it. Second, the average business user can’t get timely access to the data or insight they need. In fact, 70% say that not having direct control over data impacts their ability to meet strategic objectives. Too often, access to data only comes after the submission of an IT ticket and weeks of waiting. We see, year after year, many businesses fail to take full advantage of the opportunity their data. Current infrastructure and management practices are often not set up to handle today’s digital consumer, the volume of data generated, and the multitude of systems collecting the data, leaving users with inaccurate data and limited access. Consequently, they have been limited in their ability to leverage new data talent, technology, and best practices that can help them gain the necessary insight to innovate and stay competitive. In the past several years managing data became more complicated because of the increasingly diverse group of stakeholders who want to leverage and have access to data. It isn’t enough now just to make sure the data is right, which most companies still have not cracked. Now you also must make sure that insight is provided with the right context, to the right business user who can make the most effective decisions for the organization. These challenges will only become more acute as organizations not only continue to delay meaningful investment in data management, but also miss the emerging trend of democratization of data control in the organization.  When investing in technology, few stop to think about the overarching operational data strategy and how decentralized data manipulation has become. Organizations need the right ownership or strong data leadership that allows them to access data and take advantage of insight, while considering consumer privacy, data security and data governance. Experian just released a new report looking at customer experience data trends, developing trust in information and changing data ownership. I encourage you to read this new report in the hopes that it will shed light into best practices around leveraging data. Download the new 2019 Global Data Management report here.

The following is written by Alison Sharp, HR Director, UK&I and EMEA, at Experian. We are thrilled to announce that Experian has been officially certified as a ‘Top Employer’ by the Top Employers Institute in the UK and Spain. The annual research programme recognises leading employers around the world. Awarding only those that provide the kind of conditions where their employees can develop, both professionally and personally, nurturing and developing talent throughout all levels of the organisation. This recognition is not only testament to the incredible work undertaken throughout the business, but also builds on ‘Top Employer’ status achieved in Experian South Africa and Bulgaria – awarded over the last couple of months. So, what makes Experian such a great place to work? An inspiring working environment, unlimited development opportunities and rewards that recognises your contribution and commitment are just a few. But above all else, it’s our people. And it’s our people who have made this recognition possible. By listening to them and encouraging new ideas, they have continued to help us develop our working culture and pushed the boundaries to create the best possible working environment. A key part of this is embracing diversity at all levels. Different approaches, different solutions and different views helps create an inclusive environment that people are proud to work in. We want everyone to bring their whole-self to work, creating a place where everyone has the freedom to explore and share interests, no matter what their individual story is, without fear of judgement. The more inclined we are to bring our rich outside world into our work, the more we will expose others to new perspectives and different thinking, which in turn makes Experian a great place to be. Today, we will celebrate our success, but the hard work doesn’t stop here. We have set ourselves the challenge to not only keep our Top Employer status next year, but also improve our overall performance against the institute’s tough certification criteria, continuing our development of Experian as an outstanding place to work. We asked our people what makes Experian a great place to work.