Social Responsibility

For the ninth year, the Orange County Register has named Experian North America as a Top Workplace, securing the #1 ranking for the second consecutive year. The award, which is based on employee feedback in a survey of hundreds of leading companies in Orange County, recognizes our company’s culture of inclusion, and our commitment to employees and communities. Orange County is the home of our North America operations, and we are especially honored to be recognized again for our inclusive work environment and achieving higher performance while giving back. This honor demonstrates the talent and compassion of all the people who work at Experian. Thank You All our decisions are driven by our desire to ensure our employees feel valued and protected. As part of this, we issued a ‘Thank You’ Share Award to all employees at the beginning of this year to recognize perseverance through the pandemic, giving thousands of employees an equity stake in the company. Coming Together Our Employee Resource Groups (ERGs) continue to grow and support employees in different ways, which include activities that bring employees together internally to serve their communities externally. For example, our Asian American ERG worked closely with Pan-Asian leadership organization Ascend to support the Asian American community and employees, considering increasing discrimination and xenophobia during the pandemic. Together they kicked off Feed Your Hospital, which facilitated the delivery of meals to frontline COVID-19 healthcare workers by supporting local Asian restaurants. Meals were purchased at the restaurants and delivered to participating hospitals. The campaign raised funds for hospitals in Orange County. Social Good This year, we also awarded two OC-based organizations with major grants – the OC Hispanic Chamber of Commerce and TGR Foundation (a Tiger Woods Charity). For the OC Hispanic Chamber of Commerce, we funded and facilitated credit education initiatives for the Youth Chamber Program – funds went towards scholarship awards and event costs. We also added credit education to the ‘Pre-Venture Business Program’ curriculum – with funds going into marketing, training, one-on-one consulting, and event costs offered in both Spanish and English. For the TGR Foundation grant, we are working on ongoing projects with the foundation to support credit education, small business entrepreneurship, homeownership, and financial inclusion efforts. In total, employees volunteered more than 900 hours to Orange County-based nonprofits and Experian matched funds to those organizations that employees volunteered with and donated to. Our employees continue to help people who are facing unprecedented and unforeseen challenges. Different groups and employees of all levels are working together to help our clients, customers and communities persevere. We are honored that the Orange County Register continues to recognize our tireless efforts to make a difference in the communities in which we live and work.

Growing up, my family rarely talked about money. So, in college, when I had the opportunity to get my first credit card, I also found myself in a little trouble when the first bill came. Most of us simply don’t learn about money matters until we find ourselves in these difficult situations. That’s one of the reasons why we’re excited to launch a creative and new program to teach young adults about the basics to building a financial legacy. “Protect The Bag” debuts today. It’s a six-part web series produced in partnership with Grammy-award winning artist, entrepreneur, author and community advocate, Lecrae. We first met Lecrae when he supported a United for Financial Health initiative in his hometown last year. “Protect The Bag” is a hip master class with finance and credit basics presented in an authentic way. Lecrae describes it as “edutainment” that includes scripted skits and interviews with everyday people. His friends Tyler Lockett, Coco Jones and WHATUPRG, among others, join him and share their financial health journeys as part of the shows as well. “Protect The Bag” is not just about credit. It’s about all aspects of personal finance. We’re proud of this innovative way to help consumers understand topics like saving, investing, budgeting and identity protection through someone they admire and trust. We hope you tune in every Tuesday, starting today, for the next six weeks. Episodes will appear on Lecrae’s YouTube channel starting at 7:00 p.m.EST/4 p.m.PST.

Over the last 19 months the pandemic has disproportionately impacted underserved and low-income communities and exacerbated the health and economic situations of millions of consumers, making it even harder to recover from financial hardships. We’ve made it our mission to change this, and we’re doing so by unlocking the power of data to facilitate access to fair and affordable credit and create new opportunities for people and businesses. We use our products, services, and time to make a real difference to the financial lives of people in many ways. This is at the heart of what we do as a company, and it’s one of the many reasons why it’s such a great honor to be named by Fortune to its global ranking of the top 50 companies making measurable progress addressing social problems. Experian Boost is one example of our commitment to improving financial inclusion, providing users access to credit as a result of improved credit scores. Two years ago, we created this first-of-its-kind service designed to help consumers instantly improve their credit score by giving them credit for on-time utility, telecom, and streaming service payments. Experian Boost in the USA and UK, combined with Serasa’s Score Turbo in Brazil, are empowering consumers to take more control of their financial well-being and promoting financial inclusion. United for Financial Health is another new financial recovery program we created to help consumers who don’t typically have access to credit. Through this initiative we teamed up with 11 NGOs to reach 35 million people in less than a year, smashing our first-year target of 15 million. The partnerships this year have focused on three primary consumer markets – the USA, the UK and Ireland and Brazil. That said, we recognize there is more work to be done. In our 2021 Sustainable Business Report, we made several commitments, including to reach 100 million people through our United for Financial Health campaign by 2024. We remain focused on using our business to make real, sustainable change. Being named on Fortune’s 2021 'Change the World' list is also a testament to our truly inclusive culture at Experian, where everyone’s hard work and commitment is proving to deliver a positive impact to society. Through our investments in data and advanced analytics, we will continue to help lenders identify consumers who are excluded from the credit ecosystem, but who can fulfill their financial obligations and pay responsibly. We want to empower consumers to take control of their financial lives, and we will continue to take strides to do so, ensuring we do the right thing for those we serve.

Last week, I had the chance to take part in a few really important conversations and further exemplify our leadership and commitment to driving financial inclusion. On July 13, I had a frank dialogue with Derrick Johnson, President of the NAACP, during their 112th NAACP Virtual Annual Convention. Our conversation centered around economic inclusion, the wealth gap and the ways companies, like ours, can help provide education and access to financial services. During my conversation with Derrick, he referred to credit as a currency. I think that’s absolutely the right way to talk about it. Credit gives people access to financial services. It can divide people or bring them together to achieve their goals. We recognize there are millions of consumers who lack access to credit today. That’s why we continue to innovate through tools like Experian Boost, our free tool that enables consumers to contribute positive payment data to their Experian credit report. Especially in underserved communities, consumers may not get credit for paying their utility bills, cell phone bills, or even their streaming services, and they should. This provides a more accurate picture of their financial situation. I also participated in a virtual press conference with the U.S. Office of the Comptroller of the Currency and leaders from PNC, HomeFree-USA and Fifth Third Bank to discuss our participation in Project REACh, which stands for Roundtable for Economic Access and Change. It brings together leaders from the banking industry, national civil rights organizations, business and technology to reduce barriers that prevent full, equal and fair participation in the nation’s economy. We were approached to participate because of our deep understanding of credit risk and our ability to help financial institutions make informed credit decisions through data and advanced analytics. Our role is to help develop programs with the Alternative Credit Scoring Utility Team and Small Business Opportunity Team that drive financial inclusion. Our participation in Project REACh is the latest example in a string of efforts to address this important issue, including Experian Boost and our flagship lender score Experian Lift, which leverages all Experian assets to improve consumer’s access to credit. We believe that every individual deserves the opportunity to reach their fullest financial potential through fair and affordable access to credit. By sharing information around tools like Experian Boost, expanding credit education through partnerships like the NAACP, and working with leaders in the industry through Project REACh, we can help increase financial access and empower consumers to enter into the credit ecosystem – some for the first time. We’re committed to working side-by-side with regulators, businesses and consumers to eliminate credit invisibility and improve financial equity and access.

The financial services industry is poised to take advantage of the unprecedented availability of accurate, comprehensive, and timely data. Through increased lender adoption, the growing array of insightful data can create meaningful change and provide access to credit for more consumers and businesses than ever before. At Experian, we feel we have a responsibility to consumers seeking credit. Ensuring lenders can obtain the insights needed for responsible lending is key to supporting this. By leveraging the most accurate traditional credit data as well as expanded data sources that improve how risk can be assessed for thin-file or no-file consumers, lenders can form a precise picture of an individual’s financial situation and improve financial access for millions of Americans who have been unfairly excluded from the credit ecosystem. Extend credit responsibly. Some of the most predictive information available today is employment data, including how long a consumer has been at a job and how much they earn. Layering verified income and employment information with credit data can improve financial outcomes for consumers and help lenders say ‘yes’ when they otherwise couldn’t or wouldn’t. To help, Experian has released Experian Verify™ - a suite of solutions that provide lenders with real-time access to verified information about a consumer’s income and employment status. Through Experian Verify, credit card, personal loan, auto and mortgage lenders have near-instant access to millions of active employer records to verify an applicant’s income and employment status for use across the lifecycle, including pre-qualification, originations and account review. The products are powered by Experian’s growing network of exclusive employer records and payroll partner data, which includes data from recent acquisitions of Corporate Cost Control (CCC), Tax Credit Co. (TCC) and EmpTech. We are answering the industry’s call for change in income and employment verification while providing lender’s with deeper insights to increase financial access. Putting consumers in control. This is the latest example of many that illustrate our commitment to improve financial access for consumers. The new products complement Experian Boost – a free tool that empowers consumers to contribute their on-time telecom, utility, streaming services and mobile phone payments directly to their Experian credit report. 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. Experian Boost provides consumers with the ability to immediately impact their credit scores, while providing lenders with deeper insight into a consumer’s financial situation. With Experian Boost, nearly 70 percent see an uplift in their credit score. Since the product was released in 2019, more than 7 million consumers have connected to Experian Boost with over 50 million cumulative points added to FICO Scores. The financial impact to the industry is significant, with Experian Boost users gaining access to more than $1.7 billion in credit as a result of improved credit scores. Serving credit invisibles. Our commitment to consumers does not end there. Through our investments in expanded data sources and advanced analytics, we are helping lenders identify consumers who are excluded from the traditional credit ecosystem, but who can fulfill their financial obligations and pay responsibly. Experian Lift, our suite of lender credit scores, has the potential to help more than 40 million credit invisible consumers gain access to credit while providing first and second chances to millions more. Experian Lift uses proprietary technology, advanced analytics, and machine learning models to combine exclusive credit data attributes, trended data and expanded Fair Credit Reporting Act (FCRA) regulated data sets. This combination of data and technology is creating new opportunities for consumers who are often overlooked. Looking ahead. Data has the power to unlock financial opportunities for millions of consumers. Collaboration between Experian, lenders and consumers that is informed by data is key to keeping the economy flowing and improving livelihoods of Americans. As we look to the road ahead, we are committed to working side-by-side with lenders, credit scoring companies and consumers to eliminate credit invisibility and improve financial equity and access.

We sit in a pivotal position in the societies where we operate. For us, using our expertise in data to help tackle big societal issues, is much more than an opportunity. It’s a responsibility that we take very seriously. And we are passionate about creating a dynamic and diverse workplace. We want to be one of the best companies in the world to work for, a business that our employees are proud to be part of, where people of all backgrounds have equal opportunities to grow and succeed. That’s why this year we are announcing the publication of two new global reports, recognising our commitment to diversity, inclusion and sustainability. The launch of our first Global Diversity, Equity and Inclusion Report highlights our dedicated focus on creating an environment where people of all backgrounds have equal opportunities to grow and succeed. The publication of this new report is a step forward for us in increasing transparency around our progress and goals. As part of this, we are announcing our new target of increasing the number of women in the senior leadership team to 40% by 2024. Our commitment to sustainable business practice is also stronger than ever. This year’s Sustainable Business Report sets a number of goals to help us create a better tomorrow for everyone. Including reaching 100m people through our social innovation products by 2025 (from 2013) and that by 2030 we will cut our scope 1 and 2 emissions by 50% and our scope 3 emissions by 15% - recognising the urgent need for more businesses to accelerate their response to climate change. You can read more about the work we are doing in the full reports here: Global Diversity, Equity and Inclusion Report Sustainable Business Report

We’re currently living in a period of uncertainty in the UK and it can be quite difficult for people to understand how best to set up their finances for any economic turbulence ahead. We are all looking for the financial knowledge, confidence and resilience that can help us absorb any unforeseen circumstances. However, for some people, it’s not that easy.  Many simply don’t have the literacy skills to be confident in managing their finances. Being able to read and make sense of, for example, a credit report, bank statement or letter from a bank is an essential part of this. But a lack of understanding could lead to financial difficulties and an inability to find the support to improve your situation. Experian’s ‘United for Financial Health’ programme was born out of the company’s desire to empower vulnerable people so they can improve their financial health through education and action – particularly those affected the most by the Covid-19 pandemic. This is why we’re excited to partner with National Literacy Trust, to help deliver a campaign called ‘Words that Count’. The campaign focuses on providing young people (16-24) in Manchester with skills and confidence in words, to improve their financial health. The campaign will enable young people to be more comfortable at making good financial decisions. Improving money confidence through literacy skills can also lead to better savings habits – putting them in a stronger position to meet their long-term financial goals like getting a car, a mobile phone contract or even a mortgage. Importantly, improving literacy can help those who are currently struggling as a result of the pandemic. Experian is immensely proud to support ‘Words that Count’. Young people deserve the opportunity to succeed and avoid the long-term problems associated with financial difficulty, such as unmanageable debt and poor mental health. This campaign can help give them a ‘literacy leg-up’, and we hope it will provide a successful template to help disadvantaged communities throughout the UK.

A few weeks ago, we were able to share the exciting news about a new partnership we launched with the NAACP Empowerment Program. The Home Preservation Grant provides funding assistance to select Atlantans who are at risk of losing their homes because of a COVID-19-related hardship. It's part of Experian’s United for Financial Health program, which aims to empower and protect vulnerable consumers to improve their financial health through education and action. Today, we are excited to announce that 21 Atlanta-area homeowners are receiving grants for mortgage relief through this pilot program, just in time for the holidays. The recipients represent neighborhoods across Atlanta, including Christopher Heard, who serves our country in the Army National Guard Reserve and works in the airline industry. After Christopher’s employer cut his hours, he found it difficult to meet his mortgage payments on time. He told us, “We basically lost about 25 to 30% of our salaries across the board. COVID-19 was an unexpected curveball for everyone. This grant helps put me back on track, so I am grateful. I’d like to send a sincere thank you to the NAACP and Experian for their help.” Here’s a look at how the Home Preservation Grant is helping Christopher and other homeowners and communities in Atlanta. There are so many people like Christopher across Atlanta and in the U.S., who are struggling with their financial situation due to COVID-19. We believe that the Home Preservation Grant is such a meaningful program making a real difference in people’s lives and brings to life how Experian is promoting financial inclusion for all.

At Experian, our mission is to increase financial inclusion by empowering consumers. Through our corporate responsibility work, we have always been committed to using our resources to help more people improve their financial health through non-profit partnerships, data analytics, products and services, volunteering and educational programmes.  Now, we have an opportunity to reach even more people in hugely underserved communities. Experian has launched the global United for Financial Health project to empower vulnerable people to improve their financial health through education and action. Through the United for Financial Health programme, Experian is partnering with non-profit organizations across the globe to deliver tools and resources to help those affected the most, and certainly, COVID-19 has amplified the need. We have already launched our first three partnerships in the U.S: Operation HOPE – an organisation whose aim is to uplift disenfranchised youth and adults from poverty to thriving in a credit ecosystem. One of the goals of the partnership is to help ethnic minority groups who are struggling to raise and sustain a 700-credit score or higher. By helping people raise their credit scores we can shift their mindset from one of “survival” to “thriving” and make a real difference in their lives. For some, a higher score may mean the ability to purchase a new car, have a credit card, own a home, or simply save money for their family. Black Girl Ventures – a non-profit that advocates for Black and Brown women entrepreneurs and their small businesses. 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. NAACP Empowerment Programs – part of the largest and most pre-eminent civil rights organization in the U.S. Our partnership creates The Home Preservation Grant, which will provide grants to African American homeowners at risk of losing their homes because of COVID-19-related hardship. In the UK, we are delighted to launch a new partnership with the charity National Numeracy. Numeracy is the strongest predictor of a person’s financial literacy and is therefore crucial to their financial health. However, poor numeracy is widespread, and disproportionately affects low-income communities where people are most at risk of marginalization from the COVID-19 pandemic. Thankfully, confidence and competence with numbers is within everyone’s grasp, with the right support. Working together, we can inspire and support over 60,000 people to take positive steps towards building their confidence and competence with numbers, helping many of those most affected by this crisis take their next step towards improved financial health. We have already made good progress in a relatively short space of time and will continue to invest our energy into building further partnerships to reach more people in need of support. This is just the beginning of our journey, but we are confident that we can make a huge difference to millions of people in communities across the globe.