Related post QA test

The recent wildfires in Los Angeles are now among the most destructive recorded in California’s history. Thousands of structures have been damaged or destroyed, and many families are facing the heartbreaking loss of their homes, businesses and personal belongings. The fires have also tragically claimed lives and caused significant injuries.  In the wake of such devastation, the immediate priority for everyone is, of course, ensuring the safety and well-being of themselves and their loved ones.   As communities come together to navigate this challenging time, we are committed to being a resource to consumers. Our hope is to help those impacted by the fires preempt or prevent potential impacts to their financial health and identity where possible.   If you or someone you know has been impacted by the Los Angeles fires, here are some key points to keep in mind.   1. Safeguard Your Identity  Natural disasters can unfortunately create opportunities for identity theft. Important documents containing personal information may be lost or scattered. According to the Federal Trade Commission, instances of identity theft have nearly tripled over the last decade and scammers often exploit chaotic situations and vulnerable consumers.   Be Wary of Scammers: Sadly, following natural disasters, opportunistic fraudsters often deploy schemes tied to charity and donations, insurance, new financing, construction or clean up, and more. These perpetrators may lift and deploy tactics that were successful following natural disasters in other areas and deploy them to target those impacted by the LA wildfires. Stay vigilant against fraudsters who may try to steal your personal information or money through disaster-related schemes or offers that sound too good to be true.  Use Free Credit Monitoring and Fraud Alerts: Take advantage of these services to keep an eye on your credit activity. If you notice anything suspicious, report it immediately to your bank or financial institution.  Consider Freezing Your Credit: If your personal information has been compromised, freezing your credit with the three major credit reporting agencies can prevent new fraudulent credit applications. You can freeze your credit for free with Experian by clicking here or enrolling in its free app on your mobile device.   2. Contact Your Lenders  In times of crisis, many financial institutions are willing to work with affected consumers. If you’re worried about paying your bills on time due to the fires, reach out to your mortgage, auto loan, and credit card companies as soon as possible.  Your lenders can report accounts as deferred or in forbearance if you live in an area impacted by the fires. This means no late payments will be reported, allowing you to focus on immediate concerns. However, interest might continue to accrue on the balance, so be sure to understand the terms of any agreement.  3. Use Your Credit Report as a Financial Tool  Tracking down contact information for each of your lenders can be overwhelming. Your credit report, which you can access for free at annualcreditreport.com or via the Experian website or its free app on your mobile device, can be a helpful starting point.  While, understandably, protecting your credit history or identity may not be your immediate concern, taking a proactive approach could help prevent any or further damage to your financial health at a time when you need access to credit the most.  For more tools and resources to protect your credit standing and financial health, please visit Ask Experian.  

Experian is celebrating the one-year anniversary of The Legacy League Game Show™, a dynamic and interactive event that has revolutionized financial literacy education for students at Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs). This innovative program, part of the B.A.L.L. for Life™ initiative, combines the excitement of a game show with essential lessons on credit and financial management. We marked the occasion where it debuted in 2023: at EntreprenUTSA at the University of Texas San Antonio. The Legacy League Game Show™ has traveled to ten universities such as Morgan State and Shaw Universities and major events across the United States. The National Urban League describes the event as transformational; HomeFree-USA calls it a “model for how to teach anything to Gen Z and other generations.” Thousands of students have participated across the country, and more than 99% report an increase in their financial literacy after the experience. As someone whose family didn’t discuss money matters growing up, this impact is especially gratifying. In addition to making learning fun, The Legacy League Game Show™ addresses a critical issue: financial invisibility among young consumers, particularly within communities of color. Forty percent of consumers under 25 are credit invisible, with 26% of Hispanic and 28% of Black consumers affected, compared to 16% of their white and Asian peers.   Special guests, including rapper and college basketball standout Flau’jae, comedian and actor Mike Merrill, Louisiana State University wide receiver Chris Hilton, Jr. and Grammy-nominated D Smoke have joined the game show, adding star power and excitement. Next year, The Legacy League Game Show™ will hit the road again, visiting more schools and events. We already have stops planned at the #IYKYK Pitch Competition in partnership with HomeFree-USA, the University of Illinois in collaboration with the Hispanic Alliance for Career Enhancement (HACE), and the UnidosUS National Conference. Check out the action from our 2024 stops by clicking here.Learn more about Experian’s commitment to underserved communities in The Power of YOU 2024: Diversity, equity, inclusion and social impact report.

Modernizing the conversation around credit and financial literacy is a key commitment for Experian, especially for young adults. That’s why we partner with organizations like the Singleton Foundation to produce “Your World on Money,” to meet young people where they are, with engaging, easy-to-understand video shorts about credit, budgeting, and saving and more.   We’re thrilled this commitment and creativity has earned both Gold and Bronze Anthem Awards, which recognize excellence in social good, celebrate the impactful work of organizations and initiatives that are driving positive change. Financial literacy is often not taught in schools, and the language around credit and personal finance can be intimidating. By normalizing these conversations, we hope to inspire confidence and action, helping young adults make informed financial decisions as they navigate life’s milestones. Our United for Financial Health partnership with the Singleton Foundation continues with our new series, the Finance Couch, where college students join our experts on a coach in the middle of a Los Angeles campus to answer their money questions. And our Anthem Award-winning series, HeartBroke, helps couples whose relationships are tested with financial issues to determine if they can work through it or end up HeartBroke(n).

Throughout time, we’ve seen examples of how new technologies can reshape the way we live our lives and manage our finances. As a millennial, the standouts to me are the start of the internet and the rise of the smart phone and mobile banking. Each innovation has opened new ways of learning and simplifying the way we do things.  Now, we find ourselves on the brink of another intriguing shift with the rise of generative AI. This development is especially timely, as we know consumers are hungry for information and resources to improve their credit scores and overall financial health. To get a better sense of how consumers are tapping into this technology, we deployed a survey which showed a significant number of Americans are already embracing generative AI. In fact, 63% of consumers are familiar with generative AI, including 84% of Gen Zers and 79% of millennials. Having learned about finances through trial and error (an approach I wouldn’t recommend), and now dedicating myself to consumer education advocacy, I find this incredibly exciting. Especially considering many consumers, nearly half, are also beginning to tap technology to help manage their personal finances. It’s perhaps no surprise this resonates most for America’s youngest consumers, with 67% of Gen Zers and 62% of millennials stating they use or are considering to use the technology to manage their personal finances. The good news is consumers who are using the technology for personal financial management are reporting an overwhelmingly positive experience – an impressive 96% reported positive experiences and 77% stated they use generative AI for personal financial tasks at least once a week. Key findings include: FINDINGSTOTALGEN Z (18-27)MILLENNIAL (28-43)GEN X (44-59)BOOMER (60-78)SILENT (79+)Indicate they are somewhat or very familiar with GenAI technology63%84%79%58%40%29%Indicate using GenAI to learn about a new topic or personal finances33%46%43%28%19%18%Indicate they are using or considering using GenAI powered tools or apps to help with managing personal finances47%67%62%41%28%23% As we continue to explore the benefits of generative AI, it’s clear this technology can be a valuable resource for improving financial literacy as we look ahead. We believe that the responsible use of AI can open new opportunities for consumers seeking to enhance their financial health. However, as with anything new, there are a few things consumers should keep in mind if they are currently leverage, or considering leveraging generative AI to learn about or manage their finances or credit scores, including: Don’t forget the basics: While there’s no question generative AI can be a helpful tool for managing your finances, consumers shouldn’t lose sight of the “old school” ways to protect their financial health and credit standing. This includes checking your credit report and scores regularly. You can get a free copy of your Experian credit report and FICO® Score[1] updated daily at www.experian.com or via Experian’s free mobile app. Consumers can also get a free credit report from each of the three credit reporting agencies once a week at www.annualcreditreport.com.  Verify your findings: Generative AI tools are only as good as the information they consume and there’s no shortage of misinformation about managing your credit scores and finances that exists online. Always cross-check AI-generated financial advice with reputable sources. You can find answers to many personal finance and credit-building questions on Ask Experian—Experian’s free credit advice blog. Be safe and use generative AI responsibly. Many of the generative AI tools that exist today collect and store user data. Be mindful of the personal information you share with generative AI tools to ensure your information is protected. In short, the rise of generative AI marks a pivotal moment in personal finance education, and an exciting one for me. As we embrace this technology, I believe we can create a more informed and financially empowered consumer base. [1] Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.

We believe that financial literacy leads to empowerment. That is why Experian supports initiatives and partners with community organizations to deliver financial education. We also develop products and services that give more control to consumers over their credit profile and financial health. As part of advancing our mission of Financial Power to All®, we are proud to announce we are helping more than 5,000 Hispanic individuals nationwide by relieving $10 million dollars of consumer debt. To provide families with this boost, we joined forces with ForgiveCo, a Public Benefit Corporation (PBC), to administer the acquisition and cancellation of qualifying consumer debt for the selected recipients. Beneficiaries will also receive a one-year premium Experian membership for free that offers access to their Experian credit report in English and Spanish[i], FICO® Score[ii], bilingual educational content, and other financial resources. We hope this effort helps raise awareness of the importance of financial literacy for everyone, and that Experian has resources to help individuals reach their financial dreams.  To amplify the message, we collaborated with multi-platinum, award-winning singer and songwriter Prince Royce and you can see his video here. In fact, we have been making a concerted effort the last several years to evolve our educational resources and products to better support all underserved communities. Some of our other activities include the creation of the B.A.L.L. for Life initiative that connects African American and Hispanic youth with financial education, supporting scholarships for Asian Americans through the Ascend organization, providing custom resources for Out & Equal and Born This Way Foundation for the LGBTQ+ community, supporting the NextGen Innovation Lab for Disability:IN, and sponsoring credit counseling for the military community with Operation HOPE. For resources in Spanish, Experian offers a credit e-book and consumers can access a full suite of articles at the Ask Experian blog here. [i] Only Experian credit reports are available in Spanish. All other services associated with an Experian membership are available in English only. English fluency is required for full access to Experian’s products.  [ii] Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.

As digital transformation follows its course, ubiquitous data and new technologies are dramatically changing the way consumers interact with businesses. The Amazons and Googles of the world are redefining customer experience on a daily basis and setting the bar higher for the rest of industries to catch up. This ‘customer-first’ era calls for innovative ways to achieve sustainable growth and market leadership. Aimed at understanding this new reality, we commissioned Forrester Consulting to survey senior executives and decision makers about how they tackle the challenges and opportunities surrounding digital transformation. What we found is that the key to succeed in today’s highly competitive and fast paced environment is creating a comprehensive, unified view into their customers and their needs. And that although businesses are committed to keeping up with the pace of change to stay relevant, there are still trying to figure out how to execute their ‘customer-first’ vision. Businesses from all over the world wonder how they can attract and retain new customers, or what are the tools they need to quickly act on insights and make consistent, relevant decisions about what matters the most to their customers. Our research shows that the early beneficiaries of digitalisation such as fintech companies and e-commerce brands have been quick to understand younger, tech savvy and convenience-hungry consumers. Both industries have leveraged decades of technology developments to meet their customers’ expectations, setting the bar high. They have evolved from one-time transactions to building relationships, creating loyal followers and facilitating repeat purchases. Financial services and other sectors can find inspiration in how customer strategies focused on relevance and personalisation deliver the curated experiences consumers demand. When you put the customer first, the opportunities to create more value from your customer relationships are endless. We believe the future is bright for the business which remains nimble and willing to evolve their business models, using technology to meet the needs of tomorrow’s customer. Key findings 81% of executives believe traditional business models will disappear over the next five years due to digital transformation. 79% of key decision makers believe their customers can seamlessly interact with their organisations across mobile, web, and in-person channels – and are generally positive about the progress they are making. Two thirds of executives believe their profitability would improve if they were able to create that single, comprehensive view of the customer. Knowing and understanding customers better than anyone else is paramount to consistently assisting them how, when and where they need it. Businesses must ensure that they offer appropriate products that their customers can afford and benefit from now and in the future, regardless of market conditions or changing personal circumstances. Six out of ten executives believe sharing their data with third parties and tapping into additional data will help them create frictionless customer experiences. But there are some challenges they need to overcome before achieving that. For example, 40 percent of executives globally still feel they cannot easily share their data. They also need to make sense and find meaning from all the data they have. They are currently investing in new technologies to make sense of their data, but these efforts are not going far enough. 53% of businesses worldwide struggle to make consistent customer decisions. Part of it due to the gathering of inconsistent data from one channel to the next. The better businesses get at managing different points of interaction, the more insight they can obtain within a given customer’s experience. Using advanced analytics helps unlock the value latent in different points of interaction along the entire relationship with your customers. 77% of executives set aside budget for advanced analytics and decision-management systems. To turn strategic priorities into action, businesses have set aside budget to invest in analytics and digital decisioning. Thanks to innovative analytical tools, businesses can deliver improved, personalised experiences when they matter, better protecting consumers and complying with regulations. Download the full report.

Financial exclusion is a global issue with an estimated 1.7 billion adults currently ‘unbanked’ . Experian’s core mission is to help bring financial inclusion to every adult in the world. There are currently millions of ‘thin file’ consumers and SMEs in sub-Saharan Africa. These are consumers with limited information on a traditional credit bureau or have no information at all, so-called ‘invisibles’, who find themselves excluded from mainstream finance. They often face more difficulty – or higher costs – when applying for financial products or services. That’s why we are proud to announce today the launch of a ground-breaking new smartphone app, GeleZAR, in South Africa, which aims to bring more micro-entrepreneurs into the mainstream economy and ensure they get the credit score they deserve.. Using the expertise of our global innovation hubs, we have developed a unique financial education and credit scoring mobile app. GeleZAR is designed to educate entrepreneurs and individuals on how to manage their finances, budget and credit score in a fun, entertaining and digestible way. It can also advise individuals on how to maintain a good credit health and recommends remedial actions where needed. In partnership with a local South African consumer and fintech developer, Experian designed the app specifically for entry-level smartphones. We are also working with one of the largest low-cost mobile phone retailers in Africa to trial the app which has been pre-installed on a range of its entry-level smartphones.. The intention is to extend the rollout and make the app accessible for free on more than six million devices annually. Working with alternative data that an individual user consents to share on the app, GeleZAR will be able to assess an individual’s stability, build a credit profile and potentially improve their credit score. This in turn could enable them to access a broader range of financial products at more affordable interest rates. This is a great example of how Experian is innovating to find new ways to empower our customers while uplifting societies. It also fulfils our passion for financial inclusion and the accurate assessment of affordability. Experian’s cutting edge technological capabilities enable us to use the power of data to transform lives, businesses and economies for the better. Through our pioneering work in this space we hope to help consumers around the world on their credit journey. GeleZAR is just one of the ways we are delivering on our mission to build and improve the credit files of millions of people in South Africa and beyond.

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.