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In the United Kingdom, the Financial Inclusion Commission has previously expressed concern that 31 percent of the adult population has experienced one or more signs of financial distress, such as regularly accruing overdraft charges and using credit to pay for essentials each month. While the Bank of England has warned U.K. households about the risk and effects of their alarming, yet growing, dependence on loans and credit cards, knowing how to manage debt successfully is a vital skill many lack. While most individuals do comfortably manage their debt repayments, many unexpectedly face tough times, especially following disruptive life events that complicate financial management. Since joining Experian from university in 1992, I have been involved in a number of developments and initiatives to help people better manage their money, particularly during difficult times. Years ago, I oversaw the launch of our first telephone helpdesk for the UK public, and today I still answer questions online and occasionally on the radio from individuals worried about their credit scores and loan payments. After years of one-on-one interactions, my team and I have discovered that the key to growing our capacity to serve the community is through partnerships. To provide more effective support for U.K. consumers, Experian began to partner with debt advice charities that give free and professional guidance to people, including about credit score issues. Experian’s role is to make sure debt advisors understand the nuances of credit reporting and credit scoring when talking to and helping their clients. We provide this support in a number of ways. In the last year alone, we have trained more than 600 debt advisors through workshops and seminars, and provided free credit reports to more than 60,000 individuals through debt counselling outlets. Additionally, we have used our insight and data consultancy services to help a number of charities better understand, engage with and support their clients, for example, by identifying their clients’ preferred communications channels. This has included the Money Advice Trust, which runs National Debtline, and StepChange Debt Charity, a leading UK debt counselling provider. Our partnerships within the debt advice sector have not only enabled us to support, educate and empower more consumers to reach their financial goals, but also helped Experian better understand consumers’ greatest fears and misconceptions when it comes to finances. I have enjoyed representing Experian for the past 25 years including working with a number of great organizations and really passionate individuals – so much so that I jumped at the opportunity to join the board of a new debt advice charity, The Debt Counsellors Charitable Trust, a couple of years ago which was very much focused on helping the most vulnerable people. The relationships I’ve developed with these intelligent, ambitious debt advice advisors and charities has really inspired and humbled me. They work tirelessly every day to ensure households in the U.K. can reach their financial milestones – including, importantly, when things go wrong – and I am grateful to be a part of this important network. James Jones: Head of Consumer Affairs, U.K.
I feel that part of Experian’s responsibility as a global information services company is to build and bolster community involvement initiatives that help others. I’m currently a manager of our Fraud Resolution Team and Credit Educator Department in Allen, Texas, but I also have the honor of managing all outreach programs for our branch, bringing together Experian employees to give back to the community. Taking on a volunteer project on top of regular work can be daunting. As the point person for my office’s volunteerism, I’m in charge of communications about upcoming events and drumming up interest and excitement among employees, be it through flyers, silly videos, emails or even free t-shirts. I know a lot of my fellow employees, but I don’t know everyone, so spreading the word isn’t always easy. Despite these challenges, I continue doing this important work because I care about the impact Experian makes in its local communities. My first volunteer experience with Experian was working alongside Stop Hunger Now – an international hunger relief nonprofit – several years ago. I was amazed at the impact we had. Shortly thereafter, I also participated in a canned food drive, rallying Experian employees to visit the Texas Food Bank. After these two chaotic, inspirational, behind-the-scenes experiences, my interest was permanently piqued in on-site volunteer days within the Allen community. Since then, I’ve organized volunteer days with many other nonprofit programs. The amount of organization and work that goes into each volunteer day is much more than you might think. For every Stop Hunger Now event, we package 10,000 meals for those in need, which requires about 100 volunteers dedicating their time. When we worked with Habitat for Humanity, a nonprofit organization devoted to building homes for those who need them, our first two scheduled events were rained out – and it never rains in Texas! I was worried that no one would show up the third time, when we had to reschedule for 7 a.m. on a Saturday. Luckily, every single volunteer spot was filled. We got to meet the family we were building a house for, and we all signed a piece of wood from the house for them. Their gratitude made all the frustration and extra work worth it. It takes a village to get some of these events off the ground, but I have a strong support structure at Experian. And learning to empathize with people through volunteering helps me in my day-to-day work. People who are dealing with fraud can be very emotional, and fraud is unexpected by nature. My volunteering experience has equipped me with the skills needed to empathize with others better and think on my feet.
To date, in the U.K. mortgage payments have counted toward building credit scores while monthly rental payments have not. As a result, those who live in social housing are at a disadvantage when trying to build financial credibility. Even if social housing renters do manage their money well and pay their rent on time, the system currently does not take into account these rental payments to help them build their credit scores. Because of this, they may be excluded from more affordable credit lines, leading to an unfair cycle where they are not given the same opportunities to build positive credit and demonstrate financial credibility as those who make mortgage payments. To address this inequality, I became a product manager for The Rental Exchange two years ago. The Rental Exchange is a joint initiative Experian started with Big Issue Invest – an organization that invests in social enterprises and charities preventing poverty in the U.K. This program works with registered social housing providers to incorporate tenants’ rent payment histories into their credit file, with no cost to either the housing provider or the tenant. I cannot tell you how rewarding it is to give people with limited credit history the chance to build-up their credit score and gain access to more affordable lines of credit. My role in The Rental Exchange begins and ends with data. Step one is giving renters the opportunity to sign up and share their rental payment data with Experian, which they can do after consulting with their landlords. After we examine the data, we share insights with credit lenders, including banks, Telco and utility providers, helping them improve their credit decisions by basing their choices on more information than they had before. Without this data, a lender wouldn’t be able to see that a tenant is responsible in paying their rent on time, so they may be more inclined to charge that consumer a higher interest rate or even turn them down for credit as deemed too high a risk. But with our help, the lender can clearly see that a tenant has consistently paid their rent on time, so they can extend more favorable conditions. Every day is a milestone for The Rental Exchange. More and more individuals and social housing providers are seeking us out to share rental payment data, helping drive the program forward to reach new communities. Data is all about creating a story. Personally, I’d love to hear and share more stories about how The Rental Exchange has helped an individual or family get access to the best credit deal possible, because it’s time that all tenants were given the same access to financial services as home owners. Patrick Gray: Product Manager, Consumer Information Services, UK&I
Patients ideally should know what they’re going to owe when they show up for an appointment – the last thing they need is a big financial surprise to add to the stress of their visit. Similarly, doctors, nurses, hospitals and all healthcare providers help people to stay healthy day in and day out. Providers should be able to go to sleep at night knowing that they’ll be fairly compensated for the work that they do. However, making that happen isn’t easy. Behind the scenes, contracts, benefits and eligibility between medical groups, hospitals and insurance payers are fairly nuanced and complex. Clients benefit when it comes to how much a patient owes a hospital or medical group after treatment, rough estimates aren’t ideal – perfection is difficult/ create problems and issues. Billing must have pinpoint accuracy and add nuance based on unique contract terms that all medical groups and hospitals sign with their employers and payers. The details can actually be quite difficult to keep straight, and there is an extensive amount of variation in each contract’s rules. Experian Health works to make payment transparency the norm, so that patients know what to expect and healthcare providers are paid fairly, accurately and in a timely fashion. I began working for Experian in 2004 but my interest in product development and research eventually led me to Experian Health. My team of more than 100 Experian employees painstakingly reviews contracts, patient eligibility, benefits information and historical claims to generate an accurate fee estimate for each patient’s medical visit. Nuance/aiding are helping to work toward this. We utilize up-to-date technology that organizes all the information we find in an extensive database and review the claims on behalf of both our medical group clients and patients. The biggest challenge for me and my team is anticipating both patients’ and hospitals’ future needs and innovation in the field. Any time healthcare policies are changed or reimbursement guidelines shift, it affects our clients and requires nimble thinking on our part. How do we ensure that our technology is as modern as possible and our team members stay current on the latest trends and news? I’m looking forward to seeing how we continue adapting in the future.
I’m the Managing Director of Serasa Experian, meaning I work with Experian’s Business Services Unit to identify how data can unlock new opportunities for businesses across Brazil. I worked in the banking industry for more than twenty years, but joined Experian two years ago because I was excited by the company’s innovative use of data to solve real-world problems. I regularly work with small businesses in Brazil and hear firsthand about the challenges they face. From client conversations and recent data analysis, my team discovered that companies across the country were having difficulty identifying trustworthy suppliers for their supply chain. In fact, a recent Experian survey found that eight percent of suppliers pose risks to their business partners due to labor, tax or environmental problems. Verified background information – such as financial history and risk of default – are surprisingly difficult to find, making it difficult and time-consuming for small businesses to find trustworthy supply chains. We knew there had to be a simpler way to match companies. That’s why we created Serasa Conecta, an online marketplace that connects verified suppliers with verified buyers. Using Seresa Conecta, a buyer of a clothing store, for example, can register a customized page and scroll through the pages of trusted retail suppliers who can partner with their business. Suppliers, on the other hand, can use the portal to identify new customers to help increase sales and build their reputation. On the backend of the marketplace, Experian analyzes each company’s background, and can help determine which companies could forge the best partnerships based on simple reports and balance sheet analyses. Whenever a buyer selects a supplier, Experian also runs a risk assessment of both parties to ensure it’s a good fit. When Serasa Conecta was launched, buyers and suppliers in Brazil were thrilled by the marketplace’s ability to both increase sales and verify safe companies quickly and easily. I take pride in knowing my team and I have made a positive impact on thousands of small businesses in the country. Although I have only been at Experian Serasa for two years, I am excited to see how data can continue to unlock opportunities, connecting communities and improving the lives of companies around the world.
My work with the non-profit side of Experian started more than a decade ago, when I was asked to provide some general oversight with a project. I was only meant to play a supporting role, but my passion for the work blossomed immediately. It also seemed fortuitous that my colleagues could jokingly call me “Tammy Non-Proffitt.” Non-profits are dedicated to furthering and advocating for their respective social causes, but they don’t always have the resources they need to drive their message home. Additionally, non-profits sometimes have trouble understanding who their actual donors are due to a lack of data insights. With the limited budgets non-profits have, it would be a shame to waste hard-earned dollars on a campaign that won’t resonate with the right people. Luckily, Experian utilizes data that helps non-profits target the audiences that care about their causes across multiple channels, driving donations that are crucial to the organization’s function, while raising awareness about their cause and furthering their efforts. Recently, I worked with the Raleigh, North Carolina-based non-profit Rise Against Hunger, an international organization that prevents hunger by providing food and aid to people who need it. When Rise Against Hunger was looking to promote several fundraising Facebook campaigns, our data allowed the organization to identify the right audiences for them to target. With this data, Rise Against Hunger can directly target people who are more likely to care – and donate – to their cause. I’ve also had the opportunity to work with The Orangewood Foundation, based in Santa Ana, California, which prepares former and current foster youth to reach their potential and learn about the basic life skills they need to succeed. Like Rise Against Hunger, Orangewood needed help segmenting their own current donor base for different promotions and campaigns, based on age, location and area of interest. Orangewood provides services to more than 1,500 youth every year, so making sure they are targeting the right people for donations is extremely important. Since I began working with Orangewood, I’ve had the chance to visit their campus and charter school, and was simply blown away by the quality of their staff and facilities. Data drives and informs decision-making, helping organizations like the non-profits I work with make smart choices about their communications outreach. In addition, my recent work has not only allowed me to help non-profit clients I care about, but also connected me with other Experian employees, showing how different teams can effectively collaborate to use data for good.
Positive female role models are important if we are to transform some of the preconceptions that the public, and more importantly young girls, have about a career in STEM. To achieve this, it’s important that the effort starts at an early age to breakdown the stereotypes and outdated views that certain professions are gender-specific. At Experian, we are committed to empowering more women to become data scientists. That’s why we were delighted to sponsor the Women in Data conference in November, to help inspire, educate and support women into the data industry. Further to that, we are absolutely thrilled to find out that Experian\'s data scientist Berenice Pila-Díez was announced as one of the 20 women in data and technology, a project showcasing women forging careers in the traditionally male-dominated fields of data and technology. We hope that Berenice’s story, along with the others, will act as inspiration for the next generation of girls (and boys) to follow in their footsteps and establish a successful career in STEM.
In the United States, many individuals struggle with managing their money. In fact, a recent study by Mintel found that only 19 percent of respondents would rate themselves highly on their financial knowledge. As the Director of Public Education at Experian, this finding, while concerning, is not surprising. Since joining Experian twenty years ago, my team and I have spoken with thousands of consumers across the country about personal finance. From bank presidents to blue-collar workers, the individuals I speak to all want the answer to one question – “how can I plan for my financial future, taking into consideration life’s ups and downs?” The Mintel survey found that 21 percent of Americans today are not at all confident about reaching their financial goals, but my team and I are working every day to change this. We are committed to working with various communities within the U.S. to help them better understand their finances. We provide training for young men and women in the Air Force about how to succeed financially while on active duty and when returning to civilian life as part of a program with the Hero’s at Home organization. In partnership with the Society for Financial Education and Professional Development, we also educate young adults at historically black colleges and universities, answering questions about building credit and managing money. Through the LifeSmarts Competition, we challenge high school students to compete on knowledge of personal finance. And through some of our other programs, we work with low-income women and immigrant populations to promote financial inclusion by helping them establish credit or understand loans. Through these experiences, we’ve met countless inspiring individuals from various backgrounds with compelling success stories. For example, a member of the Air Force once told us that, following one of our sessions, she was able to improve her credit and buy her first home. Stories like this are why I am so proud to be part of the only dedicated financial education team in the industry. I am excited to continue empowering people from all walks of life to reach their financial goals. Learn more about the Mintel research here.
I’m the head of Serasa Experian’s DataLab, where my colleagues and I focus on using data and artificial intelligence to solve complex challenges for our customers. Our team of data scientists and applied research practitioners use data analytics to create new products and services that address world needs. One successful product is RWA, a platform that analyzes the dynamics of cities to help businesses make informed decisions on their next site location. Occasionally, however, we also discover innovative ways data can solve our own obstacles at Experian. Last year, several departments within Experian were facing similar challenges. We realized the problem could be solved if each group got together to share their perspectives, brainstorm and then collaborate on a common solution. At the end of that project, our teams decided to find more ways to encourage cross-team collaboration within the DataLab network more often. That’s when we decided to launch our first hackathon. Hackathons are events where a large number of people are challenged to participate in collaborative computer programming projects. Various challenges are proposed and the goal is to optimize, reinvent or replace current solutions, providing the participants with the freedom to select their project and team. For our inaugural hackathon, we challenged 80 programmers, designers and project managers to work together for more than 24 hours to create efficient authentication and retention processes to benefit customers. In our second hackathon, we asked participants to create a new Serasa Experian app that would improve relationships with consumers, along with new products that would utilize Experian’s database. The winning app solution ended up using positive registration data to improve personal credit scores for consumers. This app is now in the process of implementation. For our most recent hackathon, held in 2017, we challenged 200 employees and external participants to develop solutions. One of the challenges was to develop solutions to improve the lives of visually disabled individuals. We invited three people with visual disabilities to share their experiences, giving the teams a personal perspective for how a new product could improve their daily lives. For more than 40 hours, the teams worked tirelessly – utilizing data analysis, product design and business planning – to develop their innovative ideas. Although we have only hosted three so far, I hope to continue bringing the culture of the hackathons into our day-to-day activities at Serasa Experian. By collaborating more with coworkers in the past couple of years, I have been inspired by their ability to approach problems in unique ways. I am proud to foster such a collaborative environment and excited to see my coworkers prove a fundamental belief at Experian - hard work can also be fun when you work hard and play hard.