Release 124 Regression Test

We know small businesses are critical to the vibrancy of our economy and communities. Watching how hard the COVID-19 pandemic has affected them and their founders has been troubling. Here at Experian, we created new tools to help small businesses navigate this uncertain time. But we want to do more, and help businesses survive and thrive even in “normal” times.  That’s why I’m especially excited about our newest partnership with Black Girl Ventures (BGV).  This is part of our United for Financial Health program, which aims to empower vulnerable consumers to improve their financial health and protect them from fraud and identity theft. Through this partnership,we will provide resources, tools and services to Black and Brown women entrepreneurs to enable them and their small businesses to grow and prosper. We know that long-standing inequities have created barriers for women, especially women of color. Our partnership will provide financial resources to help scale its BGV Style Pitch Competition and Amplify BGV Programs and we are a proud sponsor of BGV’s new weekly podcast, “From Hustling to Handling, How to Stay in Business.” Together, we will curate entrepreneurial education content to assist a broader audience with knowledge and best practices related to financial literacy and wealth management.  The negative financial impact on these women and their businesses has had a reverberating effect across communities of color. Our United for Financial Health program is one of the many ways we are staying true to our mission to support all consumers and clients through their financial health journey, in normal and extraordinary times. This partnership with BGV will fuel the economic recovery by reaching millions of Black and Brown women entrepreneurs and, in turn, supporting the communities they serve. 

As businesses across the globe have started to see their operations stabilize, they will be tested once again as the world faces another resurgence of the Covid-19 but this time consumer expectations will be much higher. According to the latest Experian’s Global Insights Report, 60% of consumers have higher expectations of their digital experience than before Covid-19. The study which surveyed 3,000 consumers and 900 businesses in 10 countries, including: Australia, Brazil, France, Germany, India, Japan, Singapore, Spain, the United Kingdom and the United States, found that while many consumers may have stayed loyal to businesses they frequented before COVID-19 initially, that may no longer be the case.     High expectations for security and convenience compounded by the increased demand for online payments, banking and shopping are pushing businesses to re-imagine the customer journey and the investments needed to drive future growth. In fact, the study found that one in three consumers are only willing to wait 30 seconds or less before abandoning an online transaction, specifically when accessing their financial accounts. This means that businesses have an increasingly short time frame to prove the experience will be safe and convenient.  Businesses have no choice but to invest in their digital presence and experience. We believe the cost of doing nothing will be greater than what it will cost to invest in the customer journey. While half of the businesses we surveyed have either mostly or completely resumed operations since Covid-19 began, only 24% are deliberately making changes to their digital customer journey. This is not enough.    The integration of data, analytics and technology is the key to enable businesses to quickly adapt decisioning strategies to minimize risk, preserve valuable relationship and remain fair and compliant. In order to strengthen digital transformation, Experian recommends that retail banks, payment providers and retailers consider the following:  Understanding the customer    Businesses need to understand their customers more than ever before. They need to understand their behaviors, preferences, and financial situation. Each transaction creates hundreds of different touchpoints that financial institutions and retailers need to accommodate across all devices. The tricky part is using the right technology to put all the datapoints together and to link them into one single-view of the customer.     Use of AI to improve and automate customer decisions  Being able to make the right decision is more important than ever. Today’s economic conditions are unprecedented, and unfortunately we don’t have historic data to count on. Therefore, we need to use data and technology better than before. In the area of artificial intelligence, businesses are strengthening the security of mobile and digital channels, new credit risk analytics and artificial intelligence (AI) models and increasing digital customer acquisition and engagement.   Strengthening security of mobile and digital channels  Businesses need to provide not only a convenient experience but also a secure one. In order to improve security, businesses need to use a multi-level approach where they can easily access and layer fraud solutions to catch more fraud and reduce friction for genuine consumers.   Discover more insights from our longitudinal study of the impact of Covid-19 on businesses and consumers.    

I was recently invited to a panel discussion as a part of Money 20/20 titled Do Credit Scores Still Matter? Closing the Chasm through Data and Innovation with Lauryn Nwankpa, Head of Social Impact at Dave and Jay Moon, General Manager of Credit at Credit Sesame. We discussed how important data and innovation are right now to ensure that consumers get access to credit that they need.   As the largest credit bureau in the country, and in service of our mission to be the consumers’ bureau, we at Experian have a responsibility both to consumers seeking credit and to lenders who seek to assess the risk that a loan applicant represents.  As part of this, we’ll continue to extract value from the data that lenders are used to getting from us and we innovate by providing new forms of data that can help the many Americans who either face barriers or sometimes pay more for credit because of a lack of credit history or having a credit file that’s too thin.   I’m especially passionate about this as I myself was an immigrant and a thin-file customer at one point. When I came to this country, it was incredibly hard for me to develop a credit profile that I felt accurately reflected my financial situation and the (lack of) risk that I, as a borrower, would represent. But I was lucky as my first lender at the time was patient, just as I needed to be. They spent months seeking additional information about my situation, eventually enough to extend a firm offer of credit.  It is not only immigrants who may face this or similar challenges. The impact of COVID-19 has created a difficult economic reality for many Americans. At Experian, we’re dedicated to having a culture of continuous innovation, from the way we work to the solutions we create to help consumers on the road to recovery.  Especially during times of economic uncertainty, finding innovative means to effectively assess the creditworthiness of these consumers is critical.   That’s exactly what we focus on at Experian in order to help consumers gain financial access and stability.  Alternative data plays a critical role in achieving this. We’re finding new ways to use consumer-permissioned and alternative credit data in the credit scoring process, which can help lenders identify consumers who are excluded from the traditional credit ecosystem, but who can fulfill their financial obligations.  I’ve seen firsthand how our data and technology can help transform the way businesses operate and have spoken to many consumers who leveraged our innovative services to help them thrive in society.  Consumers want to be in the driver’s seat of their credit journey and we’re seeing a greater openness to providing data, which in turn enables lenders to make more informed decisions. This change is disrupting the status quo. Experian Boost is a great example of this. It’s a free and first-of-its-kind financial tool that empowers consumers to add positive telecom, utility and Netflix payment histories directly into their Experian credit file for an opportunity to instantly increase their FICO Score and access quality credit. More than 2.5 million have seen their scores improve with Experian Boost.  So, do credit scores still matter? My answer is that credit reports are more relevant than ever. They matter more than the score alone as they detail a consumer’s financial track record and deliver a historical view of how a consumer is managing and repaying debt over time. This information helps lenders determine who can fulfill their financial obligations and ensures consumers continue to have access to credit so I don’t believe credit reports are going anywhere.   As we navigate the road to recovery, it will be critical that all of us in the financial ecosystem work together to safeguard consumers and to maintain the integrity and openness of the credit market.  The credit report, augmented by consumer-consented and alternative data, is a foundational pillar to achieve both of those objectives. 

People’s engagement with financial information and their understanding of how organisations use it to make decisions about the products and services they can access has been growing for many years.    Experian has played a role in this journey. We were the first to allow people to view their credit report at any time and see their Experian Credit Score with the launch of CreditExpert in September 2003. It has allowed people to view their own information through a lender’s eyes, so they can understand how to improve their situation.   We’re excited to announce the next huge leap forward – the launch of Experian Boost in the UK.    Now for the very first time, people can instantly increase their credit score to help them access more financial products and services at better rates.  Experian Boost is a free service which allows people to use a secure Open Banking platform to share their everyday transactions – from council tax to digital entertainment subscriptions, such as Netflix and Spotify. These payments have never been factored into a credit score before, so adding them should broaden access to financial services.  Our analysis shows that more than 50% of people will see their credit score increase from using Experian Boost. But, crucially, the service will not make people’s score go down when they sign up to Boost.   People are also in total control of their data. If they wish, they can withdraw their information with a few clicks, and they are still free to re-join at any time. But by keeping Boost activated on their Experian account they can build a stronger payment history which could help them get their credit card, loan or mortgage they want.  We’re confident this is going to be a significant moment in how people represent their financial profile to organisations. Five million people have signed up for Boost in the US since it launched last year, with three million of those seeing their score increase.  At Experian, we strive to put people in control of their financial data and the launch of Boost is entirely in line with this goal.   Now it’s over to you – give your credit score a Boost.

October marked Black History Month (UK) – a celebration of the culture, heritage and achievements of Black people past and present. Although we weren’t able to celebrate in person this year, our Black at Experian employee network were still able to serve up an incredible range of inspiring webinars, videos, articles and podcasts covering topics discussing Black British culture, ways to discuss race and racism with our children, as well as the importance of being an ally. This exciting schedule of activities has been the perfect opportunity to learn more and many of us were personally touched by the stories of our Black colleagues who have openly and courageously shared their thoughts and experiences with us all. But as Black History Month comes to an end for another year, it’s essential that our support doesn’t stop here. As an organisation, we are committed to promoting equality and diversity for all. And our Black at Experian network has already been instrumental in helping us understand how we can improve in some of these areas. Part of this includes signing the Business in the Community (BITC) ‘Race at Work Charter’. By working alongside BITC, as well as our other employee networks, it’s helping us create initiatives that will continue to drive positive change and inclusion for all. We are committed more than ever to leverage our differences as individuals and use this broad range of talents to develop our competitive advantage as a business. We’ve made good progress in a short space of time, but this is just the beginning. We are looking forward to continuing this important journey in building a workplace that embraces a more diverse and inclusive culture.

02 November 2020 is a day we’re really proud of at Experian – our Danish Credit Bureau turns 150 years old!    As we prepared to celebrate this milestone with our people, our customers and all our wider stakeholders, we delved into our archives.  We found extraordinary pieces of our history that still resonate with us, with how we do business, today.  On this historic day, it’s my pleasure to share some of these here.   In 1783, a Danish merchant wrote a polite request to a potential customer who was asking for credit to provide information about their circumstances rather than their “Happiness and Piousness”.  It’s the earliest example we have of a credit check.  Businesses still need that information today, and it’s a demand Experian helps meet globally every day.     Købmandstandens Oplysningsbureau, or KOB, is a name that still appears on Experian products.  Evidence of not only offering data and information services that meet businesses and consumers’ needs, but being a trusted provider of accurate data and information.  We continue to publish a quarterly analysis of start-ups across industries in the Nordics, which started when we first printed a solvency book in 1930.    In 1928, KOB had a woman on its Board of Directors.  Mrs M C Gazette served alongside three men, and during her tenure created the Gazette Fund, a hardship fund to which employees could apply in times of need.  The fund ran until 2016, when it moved to a different structure for fiscal reasons.    In 1938, the German Information Agencies demanded the names of Danish businessmen of Jewish descent be given to them.  We uncovered a news article from 1945 showing our Chairman rejected this demand, safeguarding the trust those consumers placed in our business, and morally doing the right thing.    Both actions by former Board members exemplify principles we continue to hold dear at Experian today.  Operating in the Experian way, we safeguard the information we hold, we embrace diversity, are inclusive, and strive to ensure all our people feel free to bring their whole and unique self to work at our Company, contributing to our high performance culture.  What is clear from these examples and others in this celebratory digital storybook published today, is data has been at the heart of all we do for 150 years, and it will continue to be in future.  From the early days, when we helped Danish businesses assess creditworthiness of their customers, through to today, we’re still empowering businesses and consumers to manage their data with confidence.    We’re grateful for the many years our customers have trusted us to provide them with data and insights that help their businesses to thrive.    We’re proud of our employees in the past, and those we have with us today.  As a team, we work daily to value each other, safeguard our future and delight our customers.     It has been an exciting journey, and we have only just begun. We are investing in the future, through new technology, talented people and innovative solutions that power opportunities that create a better tomorrow for our employees, our customers, consumers and the communities in which we operate.   We’re celebrating today, and we’re excited about the opportunities ahead of us too.   

If you’re anything like me, you’re likely spending much more time online these days. From online shopping to grocery and food delivery and thumbing through our social media feeds – the COVID-19 pandemic has many of us spending more time in our homes and “plugged in” than ever before.   The COVID-19 pandemic has also contributed to an increase in fraud activity. According to the FTC from January to early October 2020, consumers have reported losing a total of more than $156 million to COVID-19-related fraud.  At Experian, we are committed to protecting consumer financial health during the pandemic and beyond. Educating consumers about how to protect their personal information online is key to supporting this effort.   As we prepare to enter the holiday season in our virtual world and in honor of National Cybersecurity Awareness Month, I’d like to share a few ways you can protect your financial health online:   Shop Safely Online   As I mentioned, the amount of shopping you do online has likely increased significantly since the start of the COVID-19 pandemic. This is a trend that’s expected to continue. In fact, according to a recent report from Experian, as many as half of consumers globally expect their spending online to increase in the next 12 months. Practicing safe online shopping habits is always important. This is especially true now.   While you may not be spending as much time in airports or your local coffee shops, it is a good practice to avoiding using your financial information to make purchases online if you are on a public WiFi network. Without a password protected network, you have a higher risk of fraudsters gaining access to your banking information which could significantly damage your financial health. Using a virtual private network or a VPN can be an added layer of protection when you are entering your financial information online.    Using a credit card to make your online purchases is also a useful way to protect yourself against losses tied to fraudulent charges. According to the federal Fair Credit Billing Act if your credit card — the physical card — is stolen and used to make fraudulent purchases, your issuer can hold you responsible for up to $50 in fraudulent charges. However, if you report the card stolen before any fraudulent charges are made, you have no liability. If your card number is stolen but you’re still in possession of the card, you’re not responsible for any fraudulent charges.  Avoid Falling for Phishing Emails   Phishing is an attempt to obtain sensitive information for criminal and fraudulent purposes through email. Against the backdrop of the pandemic, there have been increased reports of phishing attempts around COVID-19 testing, vaccines, treatments and cures. Keep in mind that generally if something sounds too good to be true, it likely is. To prevent damage to your identity or your financial health avoid opening any suspected phishing emails and never click on included links.   While phishing emails are getting more sophisticated, there are a few clues that can help you identify one in your inbox.  If you receive a suspicious looking email, look at the sender name or email address. Phishing emails tend to have suspicious email addresses that are often different than the name of the sender (it could be anything from a slight misspelling of the senders name to an email address that is completely different). It’s also common for phishing emails to use urgent language and include unusual attachments or links.   While reputable organizations may sometimes ask for personal information over email, pay close attention to the details of the email before sharing any of your information. It may be a better idea to call the requesting organization and find out if there is a more secure way to do whatever it is they may be requesting. Always think twice before clicking any links. When in doubt, type the organization’s name into an internet search and visit the site directly.  Protect Your Passwords  This is a basic point, but one that is commonly overlooked. Using complex passwords can be your first line of defense against potential cyber threats. I know it can be challenging but avoid using the same password for multiple online accounts. When you’re creating unique passwords, it’s best to include a minimum of eight characters with a variety of letters, numbers and symbols.  Keeping track of your passwords for your online bank accounts, email, social media, shopping apps and online medical portals can be a lot to manage. A password manager subscription can be a convenient and secure way to manage your passwords. They are affordable and more secure than writing down all your passwords or using the same password for multiple accounts.    Avoid Over Sharing on Social Media  Oversharing on social can lead to unwanted implications. For example, fraudsters and criminals can learn a lot about you from the data included in the photos you share online, including where you are and when you are there. Avoid photos of items that can be used to determine more information about you such as your license plate or the front of your home. Keep in mind, that while it may be tempting to share photos of your family vacations on your social networks, this may also tell unwanted visitors that you are not home.     Use tools to Combat Fraudsters   Checking your credit report regularly can help you stay informed about potentially fraudulent activity. In an effort to encourage consumers to monitor and understand the information in their credit reports, Experian joined forces with the other U.S. credit reporting agencies, to offer free weekly credit reports to all Americans through April 2021 via www.annualcredreport.com.      Credit monitoring services can help you spot potential fraud early. Experian offers free and paid services that provide daily credit monitoring alerts for things like new inquiries and accounts opened in your name, changes to your personal information and suspicious activity detected on your Experian credit report.   You can find more National Cybersecurity Awareness Month resources to protect yourself online here.  

As the nation’s leading Credit Bureau, we have two primary goals. On one hand, we want to provide lenders the data necessary to assess the risk that a loan applicant represents. On the other hand, we want to help consumers build credit and improve access to credit. This bifurcated set of objectives is the inspiration behind our annual State of Credit report.  Each year, this report provides a view into how consumers are managing credit, including their debt levels, on-time payments and utilizations rates.  Now in its 11th year, our latest report shows promising signs in terms of how consumers are managing their debts against the backdrop of the COVID-19 pandemic. While there is no question the global pandemic has created many financial challenges for consumers, this report shows something I’ve always believed: many American consumers are resilient, they make smart decisions in light of a difficult environment and they adjust their financial habits. Specific evidence for that assertion can be found as we compare 2019, the year prior to the pandemic and 2020, the year marked by the impacts of the pandemic. Year-over-year, consumers lowered their credit card balances, decreased their utilization rates and reduced delinquency rates on the recurring monthly payments they need to make to service their debt. These factors attributed to an average credit score of 688 — a six-point increase from the same period in 2019. You can view additional findings from this year’s report here. The Value Credit Data in America When determining whether to extend an offer of credit to a consumer, lenders can gain excellent insight into a consumer’s risk profile from the information included in a consumer’s credit profile. It details a consumer’s financial track record and delivers a historical view of how a consumer is managing and repaying debt over time.  This information helps lenders determine who can fulfill their financial obligations and ensures consumers continue to have access to credit. Recently, there are reports of using alternative means to assess consumer creditworthiness such as cash-flow data. While Experian is a recognized leader and advocate for the use of alternative data, the use of cash flow data alone can be risky. For example, consumer’s savings have also increased since the start of the pandemic. If a consumer is responsibly and regularly investing in some form of savings, this would narrow their cash flow, which may be misleading and constrain financial access. Looking at a consumer’s credit utilization rate, payment histories and credit balances through traditional credit data remains the primary means to effectively assess lending risk for most American consumers. When necessary, layering traditional credit data with alternative credit data can provide lenders with a more detailed view of a borrower’s stability, ability and willingness to repay. For example, innovations like Experian Boost empower consumers to contribute on time payment histories for additional monthly recurring financial obligations, such as their cable, utilities, mobile phone or Netflix service, directly to their Experian credit report. These payment histories can demonstrate to lenders how reliably consumers are servicing these payments. Incorporating this information has been proven to increase the predictiveness of a consumer’s credit reputation and can complement the data derived from their lending history. Of course, not every American consumer is in a position to adjust their financial habits and make the commensurate smart decisions.  Some have had the rug pulled out from underneath them.  The CARES Act stimulus was effective in increasing the number of consumers who could maintain their financial health, but still some need more help as we embark on the road to economic recovery from the COVID-19 pandemic.  At Experian, we feel that educating consumers about the information included in their credit report and ways they can improve their credit histories will be another factor in getting the economy as a whole humming again and helping those most in need.  We pride ourselves to be “The Consumers’ Bureau” and, as such, education will continue to be a primary focus for us. In an effort to encourage consumers to regularly monitor and understand the information in their credit reports, Experian joined forces with the other U.S. credit reporting agencies to offer free weekly credit reports to all Americans through April 2021 via www.annualcreditreport.com. Experian also offers consumers free access to their credit report and ongoing credit monitoring at Experian.com. For additional ways to maintain a healthy credit profile, I encourage you to: Join Experian’s #creditchat hosted by @Experian on Twitter with financial experts every Wednesday at 3 p.m. Eastern time. Visit the Ask Experian blog for answers to common questions, advice and education about credit. Add positive telecom and utility payments to your Experian credit report for an opportunity to improve your credit scores by visiting experian.com/boost[1] For additional resources, visit https://www.experian.com/consumereducation or experian.com/coronavirus.       [1] Results may vary. See Experian.com for details

There are many responsibilities I carry as CEO of Experian North America. All of them critical in terms of client relationships, product offerings, innovation, culture, our people and our purpose. A part of my work that I’m extremely passionate about is how we make a difference to consumers and their financial health. As leading data and technology company – and the world’s largest credit bureau – we have the opportunity to work with organizations and individuals every day to help them achieve their financial goals. And while that is good for business, it is also good for society and consumers. That is why I am pleased to join the HOPE Global Forum and John Hope Bryant to announce our new partnership. Operation HOPE is a national nonprofit with goals that align with our own at Experian: to uplift disenfranchised youth and adults from poverty to thriving in a credit ecosystem. We are committed to helping vulnerable communities with our data, analytics, products and services and working with Operation HOPE will help us further that mission. One way we have already been doing that is through products like Experian Boost, designed to drive financial inclusion and help people get fair and affordable access to credit. I have seen firsthand how these actions can change people’s lives. Let me tell you about an Experian Boost customer named Lawrence. Last spring, in March of 2019, his credit score was 640. He was already enrolled in our credit monitoring services, but was not proactive in trying to improve his credit score. Then, he tried Experian Boost. He was able to show positive payment history for utilities, cable, and his cell phone bills. Instantly, his score jumped 30 points. Following the advice of our credit education resources, he paid down his credit cards, which propelled his score even higher. He now has a credit score of 770. What does this mean for Lawrence and his family? Previously, they owned one car and paid 18% interest on that loan. Now, the family has two cars, and they pay 5% and 8.2% on two car loans. This represents incredible savings the family can now use for other needs, and increased access to financial services that can help them achieve other goals. This is what we mean when we talk about empowering consumers so they can have financial freedom. For some, this means the ability to purchase a car, have a credit card, own a home, or simply just save money. The financial health journey can start at any time and have a lifetime impact. I am really excited about this partnership. Together we have the potential to make a tangible difference in financial inclusion in the United States, combining Operation HOPE’s education and counseling programs with our credit education knowledge, capability and services like Experian Boost.  

At Experian, we are committed to educating consumers about how to manage their credit histories and protect their financial health. At the same time, we know the COVID-19 pandemic has created a difficult economic reality for millions of Americans. In response, many people have questions about how to protect themselves financially, including their credit histories and scores. To address these questions, we partnered with pro football legend and American Ninja Warrior host Akbar Gbajabiamila to educate consumers across the country about steps they can take to protect their financial health and their credit standing. Gbajabiamila, author of “Everyone Can be a Ninja,” is passionate about helping people develop a financial game plan and he understands having a good credit history is a key component of good financial health. These interviews provided a platform for Gbajabiamila to share the four-point financial fitness game plan consumers can use protect and improve their financial health during the pandemic, including: Contacting your lenders as soon as possible if you think you may miss a payment. Many lenders provide emergency support, which can help protect your credit standing. Getting credit for paying cable, satellite, internet, Netflix and utility bills on time with Experian Boost Exploring balance transfer options or other introductory credit offers through Experian Credit Match Checking your credit report regularly. It’s free once a week at AnnualCreditReport.com. Tune in to Gbajabiamila’s interview with NBC Washington and hear his message to consumers in the videos below. For more credit education resources and tools: Join Experian’s #CreditChat hosted by @Experian on Twitter with financial experts every Wednesday at 3 p.m. Eastern time Visit the Ask Experian blog for answers to common questions, advice and education about credit For additional resources visit www.experian.com/coronavirus

In 2013, I came out to my brother. Sitting down at dinner, knowing whole-heartedly that he would fully accept me and nothing with our relationship would change, I was still scared. Each year on October 11, National Coming Out Day, I reflect on that first coming out experience and what I truly feared. Even though I knew I was safe, I also knew that coming out to him was just the start of coming out every single day for the rest of my life. It was the start of facing discrimination and judgment both in day-to-day life and professionally. It wasn’t a decision I made lightly. Coincidently, my brother came out to me at that very same dinner which certainly took some weight and anxiety off my shoulders. We came out to our family, together later that week and we were welcomed with love, acceptance, and support. The unconditional support I received is not normal, but my anxiety around the process was. I am grateful and quite lucky that my initial coming out process to my family was, for lack of a better term, easy. Like many others I don’t experience that same ease everywhere I go. I have been asked to leave restaurants, turned away from stores, spat on multiple times, and even asked to leave mass during service. I am regularly questioned when entering or leaving a women’s public restroom. Michele Bodda, our executive co-sponsor of Experian’s Pride employee resource group, said it perfectly in her message two years ago, “The difficulty some of our LGBT+ colleagues face making daily decisions about where they can be fully present aren’t merely insecurities. They are the realities of being LGBT+.” Let that sink in. Coming out is not a one and done experience, it is something we do over and over throughout our lives. That reality impacts people in different ways, and it’s why acknowledging National Coming Out Day means so much to me – why it means so much to many others. I feel particularly fortunate to work for a company that celebrates and recognizes our uniqueness. I know many people at Experian, like myself, who feel empowered and supported to bring their whole self to work and that reality is assuring, professionally and personally. I have been told I am brave for bringing forth my full authentic self each day. During a time of such global anxiety, uncertainty, and open expressions of intolerance and hatred, being a voice of empowerment, representation, and visibility for folks who do not feel comfortable being out is more important than ever. I’m willing to be a voice so others know they are not alone. Be brave with me. And if you’re not ready, I understand. I’m here for you when you are.

In a world that was already becoming increasingly digital, COVID-19 expedited timelines and turned forecasted projects into immediate needs nearly overnight. I’ve seen this play out in my role at Experian as well as across the financial services industry. Experian was recognized as an innovative company prior to the pandemic and the current environment has only accelerated our ability to innovate. As we surpassed the six month mark adjusting to our new normal, I was invited to join Bloomberg’s Future of Finance: Leveraging Digital Transformation for a Virtual World roundtable discussion with Senior Analyst of Bloomberg Intelligence Julia Chariell and leaders from IBM, Ally Financial, Deutsche Bank and others, to share how we are rising to meet the needs of consumers and lenders during the COVID-19 pandemic. You can find a recap of our conversation here and view the full  video discussion here. We know each American is facing unique COVID-19-related circumstances, so there is not a one-size-fits-all solution. This notion has carried us as we are rising to meet the needs of our clients and consumers during the pandemic. We must allow individuals who can still meet their financial obligations to have access to credit and ensure lenders can identify them. Maintaining and improving financial access for these consumers will play an important role in our road to economic recovery. To continue to lend responsibly, the financial services industry must carefully examine all aspects of consumer financial capability in near real-time – consumer control and consumer-permissioned data play a key role in achieving this. By leveraging accurate data, I believe we have a chance to lessen the impact of the current U.S. economic crisis, extend credit responsibly, and support the hardest-hit consumers as we adjust to a new world post COVID-19.

Experian’s groundbreaking generative AI-powered tool, Experian Assistant, has earned the prestigious 2025 BIG Innovation Award in the Products for Financial Services category. This recognition underscores Experian’s commitment to pushing the boundaries of innovation by helping businesses achieve success and enhancing consumer experiences. The BIG Innovation Awards, celebrated since 2011, honor organizations and solutions that redefine excellence through creativity and measurable impact. Experian Assistant was recognized for transforming how financial institutions approach data and analytics, enabling faster, smarter decision-making that enhances customer experiences and operational efficiency. Redefining Financial Services Integrated with the Experian Ascend Platform™, Experian Assistant functions as a 24/7 data expert, enabling financial institutions to optimize their credit and fraud models with ease. Using natural language processing (NLP), the virtual assistant guides users providing insights, recommendations and coding assistance. The impact is transformative: Experian Assistant cuts model-development timelines from months to just days— and even hours in some cases. By helping users analyze credit and fraud data, adjust model attributes and streamline workflows, it empowers organizations to innovate faster and make data-driven decisions with confidence. Powered by agentic AI technology, Experian Assistant reimagines how data scientists and analysts approach their work. It accelerates insights, fosters collaboration and empowers businesses to deliver exceptional customer experiences while reducing the time and resources needed to bring new initiatives to market. Driving Results Across Industries While tailored for financial services, Experian Assistant’s capabilities extend across industries. Businesses can leverage its tools for data exploration, model deployment, performance monitoring and faster time-to-market for new offerings. With Experian Assistant, users gain a powerful edge in scoring more consumers, optimizing processes and enhancing overall customer satisfaction. Recognized Excellence The 2025 BIG Innovation Awards spotlight trailblazers evaluated on creativity, impact and results by seasoned business leaders. This accolade solidifies Experian Assistant’s position as a game-changing solution in financial services and beyond.

We are thrilled that for the sixth consecutive year, Experian has earned a score of 100 on the Human Rights Campaign Foundation’s (HRCF) 2025 Corporate Equality Index (CEI). This recognition underscores our commitment to LGBTQ+ workplace equality. We are honored to join the ranks of 765 U.S. businesses that have been awarded the HRCF’s Equality 100 Award, celebrating our leadership in fostering an inclusive workplace. Experian’s dedication to supporting the LGBTQ+ community is reflected in several key initiatives: Name Change Process: We have a process for transgender and non-binary consumers to update their names on credit reports, ensuring their identities are accurately represented. LGBTQ+ Allyship 101 Training: This new training program is available to all Experian employees, promoting allyship and understanding within our workforce. Pride ERG Parenting Committee: Launched to support parents, grandparents and guardians of LGBTQ+ individuals, this committee provides valuable resources and community. Transgender Resource Guide: This guide supports employees who are transitioning at work, offering education and resources for colleagues and managers. Partnerships: We collaborate with organizations such as Out & Equal, GenderCool, The Trevor Project and Born This Way Foundation’s Channel Kindness to provide financial health, mental health and other resources to empower both our internal and external communities. At Experian, we are proud to be part of this movement towards greater equality and inclusion. We remain dedicated to fostering a workplace where every employee feels respected, valued and empowered to bring their authentic selves to work. Learn more about how we drive social impact in English, Portuguese and Spanish.

Achieving Top Workplace recognition for 12 consecutive years is no small feat, yet Experian North America has done just that. Named a Top Workplace by the Orange County Register once again, this milestone reflects not just policies or benefits but what truly makes Experian exceptional: our people. As Hiq Lee, Chief People Officer at Experian North America, notes, this honor is a testament to the remarkable contributions of our team. Experian’s employees shape an environment where innovation, inclusivity, and purpose thrive. More Than Work What sets Experian apart is our engagement with the world and community. Through initiatives like the Experian Volunteer Leadership Network and partnerships with organizations such as the Octane Foundation for Innovation and the Hispanic Chamber of Commerce of Orange County Education Foundation, our impact extends beyond the workplace. In 2024, we earned additional recognitions, including being named one of the World’s Best Workplaces™ by Fortune and Great Place to Work®. We were also recognized as one of the Best Workplaces for Parents, Millennials, and in Technology. The Secret to Success Our success lies in focusing on people. Experian is a place where careers are built, ideas are encouraged, and employees feel valued. Initiatives such as, Employee Resource Groups foster belonging, Mental Health First Aiders provide support, and technology hackathons inspire creativity. Innovation at the Core Innovation continues to drive our success. By leveraging technologies like artificial intelligence and machine learning, we are redefining decision-making and fraud prevention. This commitment to innovation empowers businesses and consumers worldwide, aligning with our mission to promote financial inclusivity. Looking Ahead For Experian, being a Top Workplace for more than a decade isn’t a finish line—it’s a springboard. With an ongoing commitment to our employees and communities, we continue to evolve, creating better experiences for our team, clients, and the world.

The rise of Generative AI (GenAI) is fueling a new wave of sophisticated fraud, transforming the financial services landscape. Experian’s 2024 Global Identity & Fraud Report highlights the challenges businesses face, and the strategies needed to protect consumers while maintaining seamless digital experiences. Based on insights from more than 1,000 business and fraud leaders, and 4,000 consumers worldwide, the report identifies three key forces shaping fraud prevention: GenAI-Powered Fraud: Fraudsters use AI to craft highly personalized attacks, exploiting vulnerabilities across the customer journey. Evolving Regulations: Stricter government requirements demand rapid adaptation of fraud prevention strategies. Customer Expectations: Consumers prioritize secure, efficient services. Many abandon brands after poor account-opening or transactional experiences. A Multi-Layered Defense The report emphasizes the need for a multi-layered approach to combat fraud effectively. Businesses are increasing investments in AI, machine learning, and data-sharing networks to detect and prevent fraud in real-time. “Fraud operates across borders and targets various points in the customer journey,” said Greg Wright, Experian’s Executive Vice President of Identity and Fraud. “Businesses must leverage advanced analytics and alternative data to stay ahead of these evolving threats.” Balancing Security and Experience Consumers value security, but demand convenience. Striking the right balance is critical, as many switch providers after experiencing delays or cumbersome processes. Businesses can succeed by: Using Advanced Analytics: Leveraging AI-driven insights to prevent fraud while maintaining smooth customer experiences. Orchestrating Fraud Prevention: Integrating tools to provide a 360-degree view of customers, ensuring fraud detection is seamless and comprehensive. The Path Forward The rise of GenAI fraud underscores the need for global collaboration and innovation. By adopting advanced technologies and prioritizing customer-centric solutions, businesses can protect consumers while fostering trust. Experian’s 2024 report offers actionable insights for navigating these challenges. Download the full report to learn how to outpace fraudsters while delivering secure, seamless experiences.

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/.  

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).

Great Place to Work and Fortune have named Experian as one of the 25 World’s Best Workplaces™ 2024. This recognition highlights more than an award—it shows a commitment to our strong People First culture. Experian Chief People Officer Jacky Simmonds shares insights on how our people across the globe cultivate this culture, staying ahead of the curve through a unique blend of inclusivity, empathy, and a shared purpose. What does it mean to you, and to Experian, to be named among Fortune’s World’s Best Places to Work? At Experian, we have long aspired to be one of the best companies in the world to work for, and over the past few years, we have made this a priority. Our journey has been marked by a commitment to putting our people first and fostering the collaborative and inclusive culture that sets us apart. This recognition reflects the common values that we share across our many countries and cultures and the dedication of our colleagues across our business.  We spend so much of our time at work, so I think it’s important that every interaction – from the interview process to joining and every daily interaction – is a positive one where people are welcoming, supportive and generally just really nice people to work with. Reaching this milestone gives all of us at Experian some recognition, but also it is inspiring as we continue to strive to attract top talent who share our values, share our purpose and make every day an enjoyable one. How does Experian create an environment where employees feel empowered to innovate and contribute ideas that drive real impact?  To fulfill our mission of bringing Financial Power to All™, we need as many voices, experiences and backgrounds as possible, so we can represent our clients’ differing needs. This culture of inclusion drives our innovations. We have employee-led initiatives, such as internal Hackathons that bring together these diverse perspectives to develop products and services like Experian Boost, Experian Go, Experian Smart Money Digital Checking Account, Experian Support Hub, and Transforme-se so we can serve the communities in which we live and work. How has Experian adapted to changing employee expectations since the pandemic, and what steps has the company taken to support employee well-being and work-life balance?  We know that our people really value the ability to have flexible work model, so they can work to fulfill their role in a way that works for them. For some this is fully remote, for others it is hybrid so a balance of remote and in office, and for others in office, where their role requires it fully. We know from the feedback that we get that our people appreciate that we trust them and they have flexibility to deal with varying commitments that we all have outside of work. We also know that since the pandemic there has been an increased focused on wellbeing. Sponsored by our Chief Financial Officer, we embarked upon an initiative to invest in how we support people who may need additional support. We are very proud of our Mental Health First Aiders programme, which has trained around 400 colleagues across the world representing 23 countries and 28 languages and helping their teammates access resources. These volunteers receive consistent, ongoing and updated training. What specific initiatives or programmes at Experian do you believe set the company apart in terms of supporting professional growth and career development?  We have invested in a number of things that we believe really make the difference. The first is developing great leaders at every level. Today’s leaders have many more challenges, many different age groups, a balance of remote and in person working, together with teams based in many different locations. Great leaders build great teams, so we think it’s important to invest in their development. That’s we built a leadership development portal – The Leadership Exchange – that has a wide range of resources to support them, including development programmes tailored to their needs. We also want to ensure that everyone at every level can develop their skills and progress their careers. So we launched our annual Global Careers Week, Experian University, and built a world-class digital curriculum so everyone can access the form of development they need based on their role or aspirations. There really is something for everyone. This way, we help our teams stay ahead of trends and ensure our business is equipped with the skills needed for the future. Looking forward, what are key goals or priorities for further enhancing Experian’s culture and employee experience?  We’re truly proud of this amazing recognition, but we always strive to get better and acknowledge there’s always more to be done. We see an opportunity to make things easier in the way we leverage advanced technologies like AI to further enhance employee experience. For example, more personalised learning pathways, improved tools for productivity and collaboration. We make sure we don’t lose the human touch, but we also want to make the most of these innovations so we stay relevant with our largely tech populations. Being named one of the world’s best workplaces reflects Experian’s unwavering commitment to be recognized for having a great culture where people can do their best work with people they enjoy working with. Learn more about what makes Experian a World’s Best Workplace in the People section of our Annual Report and the Experian Power of YOU Report 2024: Driving social impact and diversity, equity and inclusion, available in English, Portuguese and Spanish. 

While the credit reporting industry is designed to help lenders and creditors minimize risk and assess consumers’ ability and willingness to repay outstanding debt, let’s be clear: the consumer is our main priority. Every lending decision and action is made with the consumers’ best interest in mind. Because consumers rely on credit and other loan products to purchase homes and cars, pay for college, afford goods and services, and even bridge the gap during emergencies, the credit reporting industry has been at the forefront of broadening access to fair and affordable financial resources.   Risk-based pricing has made it possible for more consumers to access credit, particularly those with limited-to-no credit history or subprime credit profiles. Previously, lenders may have opted not to extend credit to consumers considered higher risk; but more and more, lenders are empowered to tailor borrowing terms based on a consumer’s credit history. In addition, because lenders don’t have to absorb unforeseen risk, lower borrowing costs can be maintained for all consumers. Experian has long advocated for expanded data sources, such as rent and utilities payments, to be incorporated onto consumer credit reports and considered in lending decisions. In 2019, we launched a product  that empowers consumers to add positive payment history for utilities, telecoms and video streaming services—and eventually residential rent—directly into their Experian credit report. Our efforts coincide with legislation, such as S.2417 – the Credit Access and Inclusion Act, introduced by Senator Tim Scott (R-SC) in 2021, which encourages the reporting of consumer payment history, including rent, utilities, and telecom services, to the nationwide credit reporting agencies. This is key to broadening access to fair and affordable credit for underserved consumers.  The industry needs to continue to explore other avenues that can help consumers improve their financial health, such as the role that buy now, pay later information can play in increasing financial inclusion. Empowering consumers to take control Beyond legislation or the use of expanded data, many non-profit and community based organizations are championing initiatives that drive greater financial inclusion. Organizations such as Inclusiv, Jump$tart Coalition for Personal Financial Literacy, HomeFree-USA, National Urban League and the Society for Financial Education & Personal Development, among others, are helping individuals and households from underserved communities navigate the mainstream financial system and take control of their financial lives. Experian and other financial institutions are partnering with non-profit organizations with deep roots in communities, allowing them to connect with community leaders and individuals on a more personal level. Every individual enters the credit ecosystem at a different stage so it’s important that banks and financial institutions listen to the specific challenges they’re experiencing. For example, individuals may be searching for credit monitoring and alerts, budgeting tools or ways to put more money back into their wallets, such as finding cost-efficient options for auto insurance. Providing individuals and households with the financial knowledge and access to tools better positions them to become financially independent. The credit reporting industry continues to provide more resources and transparency to help improve consumers’ financial health. All individuals deserve the opportunity to establish and build their credit so they are able to elevate and maintain their financial status.

Today at Money 20/20 in Las Vegas, Experian unveiled Experian Assistant, a groundbreaking toolset that transforms analytics and modeling for financial institutions. By leveraging Generative AI (GenAI), this revolutionary solution slashes model development turning months-long processes into days—or even hours. Positioned as a game-changer, Experian Assistant offers businesses the equivalent of a seasoned expert, guiding them through complex use cases with ease and redefining how financial organizations approach data-driven insights. Revolutionizing Modeling with Generative AI Experian Assistant marks a significant leap forward in how businesses handle the modeling lifecycle. Integrated into the Experian Ascend Technology Platform™, Experian Assistant is designed to streamline data analytics processes, enhance accuracy, and promote efficiency. This debut underscores Experian’s commitment to responsible AI innovation, ensuring that organizations benefit from advanced analytics without compromising on privacy or ethical standards. “Many financial institutions are looking to invest in new generative AI use cases, often focused on banker specific support,” said Craig Focardi, Principal Analyst at Celent. “Experian Assistant focuses on developer support to accelerate the development lifecycle by having a digital model building consultant available to users.” Empowering Data Scientists and Analysts With its powerful natural language processing (NLP) capabilities, Experian Assistant is reshaping how data scientists and analysts approach complex tasks. Traditionally, navigating large datasets and building models required extensive technical expertise. But now, Experian Assistant allows users to query data, write code, and build models in plain language—democratizing access to sophisticated analytics. The tool not only boosts productivity but also fosters collaboration and accessibility. This innovation will drive financial inclusion by broadening access to data-driven insights and responsible use of data across organizations. Developed in Collaboration with Leading Financial Institutions A standout feature of Experian Assistant is its development in close partnership with the world’s largest financial institutions. This collaboration ensures that the tool is finely tuned to real-world challenges, delivering deep insights into Experian’s data assets. By optimizing analytics processes, businesses can achieve proven cost savings, enhanced data visibility, and faster product deployment. Continental Finance Company, for example, reduced data-building time by a remarkable 75% after adopting Experian Assistant. This kind of impact highlights the tool’s ability to accelerate model development while maintaining strict data privacy standards—a vital consideration for financial institutions. Advanced Compliance and Transparency In today’s highly regulated environment, businesses must not only meet compliance standards but also provide transparency into their processes. Experian Assistant is designed with these needs in mind, offering advanced features that support regulatory reporting, identity management, risk assessments, and transaction monitoring. A Competitive Edge through GenAI With more than a decade of AI expertise, Experian is leading the charge in responsible AI development. At Money 20/20, Experian Assistant stood out as a testament to this leadership. The tool is positioned to offer financial institutions a competitive edge, improving risk assessment, enhancing customer experiences, and promoting financial inclusion. As the financial services industry continues to evolve, businesses that embrace GenAI solutions like Experian Assistant will be better positioned to succeed. This groundbreaking tool is not just an enhancement—it’s a fundamental shift in how analytics and modeling are conducted, offering the speed, accuracy, and transparency that today’s market demands.

People rely on credit cards, personal loans, mortgages and auto loans, among other financial products to buy homes, fund college educations, weather temporary income disruptions and finance billions of daily transactions for goods and services. Credit is the cornerstone of the pursuit of our financial ambitions. That’s why the credit reporting industry is deeply committed to broadening access to fair and affordable financial resources for all consumers, particularly for individuals and households from underserved communities. The commitment is underscored by the continual effort to evolve the credit reporting system and incorporate new data sets to provide lenders a more comprehensive view of consumers’ ability and capacity to repay outstanding debt. Although progress has been made to extend credit to more prospective borrowers across the risk spectrum, if we want to continue to broaden the scope, we need to encourage the consistent reporting of additional predictive data sources to help lenders assess consumers’ creditworthiness. A proven track record but there’s more work to do Over the past century, the credit reporting industry transitioned from an opaque system founded on relationships to one rooted in data. Lenders lean on past payment history on similar loans (i.e., auto loans, mortgages, credit cards, etc.) as a reliable predictor of a borrower’s future loan payment performance—it’s a way for them to mitigate risk and say “yes” to more borrowers.   And it works. The comprehensive reporting of past loan performance, coupled with increasingly sophisticated statistical prediction models, as well as the adoption of risk-based pricing, accelerated the extension of credit to more consumers. Yet, according to research from Experian and Oliver Wyman, millions of Americans lack access to mainstream credit because they are credit invisible, unscorable or have a subprime credit score. It’s particularly challenging for younger individuals, newly arrived immigrants and historically underserved communities, such as racial and ethnic minorities. At times it can be a catch-22; in order to get credit, you have to have credit. More predictive data is key At Experian, we’ve long understood that expanding the universe of creditworthy borrowers requires more data. In addition to some of the more conventional tradelines, such as mortgages, auto loans and credit cards, we have to explore expanded data sources that are predictive of a prospective borrower’s credit risk. For instance, more consumers are using buy now, pay later (BNPL) products, and nearly every consumer makes recurring monthly payments for rent, utilities, cell phones and even video streaming services, yet oftentimes, these data points are not consistently reported to the credit reporting agencies nor considered during lending decisions. Collectively, the industry and regulators, need to do more to encourage the consistent reporting and inclusion of expanded data onto consumers’ credit reports.    In fact, based on our research, we’ve found that some of the aforementioned expanded data sources can empower lenders to assess the credit risk of a significantly larger pool of consumers. These expanded data sources have been shown to be highly accurate predictors of future loan payment behavior. And, when expanded data is combined with advanced analytics, up to 96% of the population can be scored, including an estimated 65% of credit invisibles.1 Broadening access to fair and affordable credit for more consumers means leaning into combining conventional tradelines with expanded Fair Credit Report Act-regulated data sources. The more information lenders have available to them about prospective borrowers’ past payment performance the more empowered they are to minimize risk and more confidently extend credit. Pushing for more data is the best path forward.

In an era where financial transactions occur at the click of a button, the significance of accurately verifying and authenticating consumers’ identities cannot be overstated. From online purchases to mobile banking, ensuring secure and reliable digital connections and safeguarding consumers’ information are table stakes for any business operating in the digital ecosystem. Unfortunately, some advocacy groups are calling for stricter regulatory guidelines that may impede business’ ability to effectively and efficiently protect a consumer’s financial information and identity. We’re, of course, referring to the push to classify credit header data— identifying information, such as name, current and former addresses, phone number and Social Security number, found at the top of credit reports—as a consumer report under the Fair Credit Reporting Act (FCRA). Subjecting credit header information to the FCRA will unnecessarily limit its permitted use, and effectively make it more difficult—and potentially impossible—for banks and other businesses to use the information to authenticate and verify consumers’ identities. It’s an unintended consequence that will surely compromise the security of our digital identities.  Foundational to fraud prevention Credit header data plays a pivotal role in helping businesses detect suspicious activity and stay ahead of increasingly sophisticated fraud schemes. With credit header information, banks and other financial institutions cross-reference loan applications against transactions from hundreds of thousands of contributors to spot anomalies and thwart fraudsters before they inflict harm. In fact, many of the industry’s most advanced fraud prevention tools and signals rely on credit header data to verify the legitimacy of any given transaction. Keep in mind, the transactions we’re referring to are transactions of consequence. For instance, opening a new bank account, applying for a loan or transferring money. This level of activity carries inherent risk, and without proper vigilance, could result in significant financial or reputational harm to consumers and businesses. But it’s not only lenders that leverage credit header data, the use cases for credit header data are broad. Government agencies and businesses in the public sector, law enforcement, and some pharmacies use the information to issue one-time passcodes for identification purposes, find missing persons, or verify consumers’ identities prior to prescriptions being filled. Credit header data is already regulated Some of the concern surrounding credit header data centers on consumer privacy, and rightfully so. Protecting consumers’ privacy should be central to the use of sensitive information; however, credit header data is already regulated by the Gramm-Leach-Bliley Act. In fact, for more than 25 years, the Gramm-Leach-Bliley Act specifically provides that the permissible use of credit header data includes fraud prevention, while also mandating consumer privacy and data protection. Subjecting credit header data to additional FCRA regulation, which does not clearly allow for fraud prevention, could make it impractical or impossible for many businesses to use it for that purpose.  Not only is additional regulation unnecessary, but it potentially creates a contradictory web of regulations that increases the compliance burden and confusion for many businesses. This ultimately thwarts the purpose of GLBA by delaying fraud prevention efforts and potentially raising costs for consumers. Credit header data is far more than information included at the top of consumers’ credit reports, it is a linchpin that powers many of the most advanced fraud prevention and identify verification tools in the market. Before any further regulation is considered, we have to acknowledge the role that credit header data plays in keeping consumers’ information safe and how any changes may impact the safety and soundness of our digital economy.

Experian continues to affirm its leadership in financial technology, earning the 7th spot on the 2024 IDC FinTech Rankings. This is the third consecutive year that the company has ranked among the top 10 providers, reinforcing its position as a key player in the FinTech space. The IDC FinTech Rankings assess the top 100 financial technology providers based on revenues generated in 2023 from financial services and FinTech sectors. In addition to this notable achievement, Experian has been awarded the 2024 IDC Real Results Award for Bank Deposit Transformation. This award highlights Experian’s innovation in driving measurable and impactful changes within the financial services industry. The recognition is particularly focused on the company’s success in helping banks transform their deposit processes through advanced fraud prevention technologies. Experian’s Ascend Fraud Sandbox: A Game-Changer A key factor behind this award is Experian’s Ascend Fraud Sandbox, a groundbreaking tool that offers financial institutions a comprehensive platform for fraud detection and prevention. The Ascend Fraud Sandbox empowers organizations to analyze data, identify new fraud patterns, and quickly build, test, and deploy models. This technology enables banks to enhance their fraud detection capabilities, leading to higher approval rates for online deposit accounts and reduced fraud-related losses. The sandbox operates with over 10 billion identity and fraud events, which include applications, login activities, and transactions. It also continuously incorporates tens of millions of new events each day. This expansive dataset allows banks to stay ahead of increasingly sophisticated fraud attempts, especially those driven by artificial intelligence (AI). Experian’s success in Bank Deposit Transformation demonstrates the company’s ability to help financial institutions improve their processes while simultaneously enhancing fraud protection. By providing advanced fraud-prevention and identity-protection technologies, Experian enables its customers to optimize their operations, reduce risks, and achieve better financial outcomes. Recognition of Experian’s Innovation This dual recognition—ranking 7th in the IDC FinTech Rankings and winning the Real Results Award—further solidifies Experian’s standing as a leader in technology. These accolades underscore its capacity to offer data, technology, and scalable solutions that allow financial institutions to make informed business decisions at the necessary speed to remain competitive in an evolving market. Now in its 21st year, the IDC FinTech Rankings evaluate technology providers based on the revenue they generate from financial institutions, including banks, insurers, and capital markets firms. With both the FinTech Rankings and the Real Results Award in hand, Experian continues to deliver innovative solutions that help financial institutions navigate the complexities of modern finance with confidence.