This week, Experian is participating in the Money 20/20 conference at the Aria Resort and Casino in Las Vegas. This premier conference highlights innovators that are profoundly changing how consumers and businesses manage, spend and borrow money.  At the conference, Experian is providing a comprehensive view on customer intelligence and how we can be a data partner in helping businesses make powerful decisions that help acquire, grow and protect mobile customers. The Experian team has hit the ground running and if you are attending the conference, be sure to check out all of the ways to meet up with us and stay connected. Here’s a quick overview: Meet the experts Stop by booth #218 in the Bristlecone Ballroom to learn from our mobile channel experts on how to deliver timely and relevant information and offers to your customers. Click here to schedule time with our experts. While at the booth, test your credit and fraud knowledge by playing Experian Buzz. Players have 90 seconds to put up furious points answering questions about personal credit scores to squelching online fraud. Best Buzzers will rock the leaderboard and the best of the best with win a time-smart Pebble Watch and other great prizes. See Mike Bruemmer, Vice President of the Data Breach Resolution group at Experian Consumer Services present with Yaron Samid, CEO of BillGuard Tuesday, Nov. 4 at 11:45-11:55 a.m. at Starvine 10, level 3. If you aren’t attending the conference and want to know more about what Experian is doing in this mobile space, there are many other ways to engage: Join the conversation Join the tweet chat hosted by @Experian on Twitter this Tuesday, Nov. 4 at 12:15 p.m. PT during the conference lunch hour to discuss trends in mobile payments. Use the #MobilePayChat hashtag to tune in! Connect with the Experian Money2020 group on LinkedIn to network and receive exclusive research during and after the conference. Research and insight Find out why merchants are rejecting near field communications from Experian’s mobile expert Cherian Abraham. Leveraging his deep understanding of mobile commerce and payments, Cherian sheds light into this trend. Read more: http://bit.ly/EXPN-NFC According to the Consumer Financial Protection Bureau, in 2013, about 74,000 new consumers used mobile banking per day. With the growing trend of consumers utilizing mobile platforms to conduct business, this paper examines how lenders have the opportunity to increase engagement with customers, offer more customized products and services with in-the-moment offers and enhancing loyalty by anticipating their financial service’s needs. Download the report here: http://ex.pn/1x2Nwrn. Our expertise spans a variety of industries including banking, utilities, telecommunications, mortgage, leasing, automotive, retail finance, public sector, fraud prevention, small business and consumer education. To learn more about our resources, visit http://www.decisionanalyticsblog.experian.com/. To wrap it up, we’re looking forward to attending and getting a taste of what happens at this much-talked about event.  We’ll be sure to provide you with our thoughts and learnings very soon. Stay tuned! Photo source: Shutterstock  

New research shows email marketers are two times more likely than all other marketers to integrate customer data across all channels According to a commissioned study conducted by Forrester Consulting on behalf of Experian Marketing Services, maturity in cross-channel marketing is low and, despite the adoption of multiple channels in marketing programs, integration and coordination do not occur consistently. The global research study, entitled The Road to Cross-Channel Maturity, also found that marketers seasoned in email, more than any other digital channel, are in a position to be the ones to lead the transition to the cross-channel marketing era. A complimentary copy of the study can be downloaded at Experian Marketing Services’ Website. Please visit http://ex.pn/ZDxdEQ. In particular, Forrester Consulting found that marketers around the world struggle to integrate data sources and adopt effective data-management practices. Only 24 percent of marketers surveyed said they use contextual data and customer data for a real-time view across channels. Sophisticated email marketers demonstrated significantly higher rates of data-usage best practices, which was twice as much as the average respondent. Practices among marketers in Asia-Pacific (APAC) countries demonstrated the highest prevalence of this mature use of customer data at 36 percent, with China leading the pack at 47 percent. APAC also led other regions in overall cross-channel marketing maturity. Seventy-five percent of marketers that Forrester Consulting identified as “sophisticated marketers” use data in real time. In the study, Forrester Consulting states “…an email can provide a consumer with information or incentive to engage with other channels. As one of the most reliable, consistently used channels, email has an opportunity to be more than another transaction-driving medium… With cues from email, marketers can better provide interactions in other channels and touch-points.” The Forrester Consulting study recommends that marketers identify where email is most relevant and influential in the customer’s path to purchase and then incorporate additional channels along the path that tie all the communications together. To understand marketers’ maturity in cross-channel marketing, Experian Marketing Services commissioned Forrester Consulting to evaluate digital marketers’ attitudes about, experiences with and challenges related to cross-channel marketing, as well as the role email marketing has and will have in delivering cross-channel interaction. Forrester Consulting surveyed nearly 500 digital-marketing executives in various industries in North America, Europe, Asia and South America, including decision makers responsible for search, email, social, Website, mobile and display marketing strategy execution. It also conducted in-depth interviews with senior executives in the United States and Canada. A Webcast about the study conducted by Forrester Consulting and commissioned by Experian Marketing Services is available to view on demand at http://ex.pn/1Ftjhyx.

More than 10 years ago I spoke about a trend at the time towards an underutilization of the information being managed by companies. I referred to this trend as “data skepticism.” Companies weren’t investing the time and resources needed to harvest the most valuable asset they had – data. Today the volume and variety of data is only increasing as is the necessity to successfully analyze any relevant information to unlock its significant value. Big data can mean big opportunities for businesses and consumers. Businesses get a deeper understanding of their customers’ attitudes and preferences to make every interaction with them more relevant, secure and profitable. Consumers receive greater value through more personalized services from retailers, banks and other businesses. Recently former Experian North American CEO Craig Boundy wrote about that value stating, “Data is Good… Analytics Make it Great.” The good we do with big data today in handling threats posed by fraudsters is the result of a risk-based approach that prevents fraud by combining data and analytics. Within Experian Decision Analytics our data decisioning capabilities unlock that value to ultimately provide better products and services for consumers. The same expertise, accurate and broad-reaching data assets, targeted analytics, knowledge-based authentication, and predictive decisioning policies used by our clients for risk-based decisioning has been used by Experian to become a global leader in fraud and identity solutions. The industrialization of fraud continues to grow with an estimated 10,000 fraud rings in the U.S. alone and more than 2 billion unique records exposed as a result of data breaches in 2014. Experian continues to bring together new fraud platforms to help the industry better manage fraud risk. Our 41st Parameter technology has been able to detect over 90% of all fraud attacks against our clients and reduce their operational costs to fight fraud. Combining data and analytics assets can detect fraud, but more importantly, it can also detect the good customers so legitimate transactions are not blocked. Gartner reported that by 2020, 40% of enterprises will be storing information from security events to analyze and uncover unusual patterns. Big data uncovers remarkable insights to take action for the future of our fraud prevention efforts but also can mitigate the financial losses associated with a breach. In the end we need more data, not less, to keep up with fraudsters. Experian is hosting Future of Fraud and Identity events in New York and San Francisco discussing current fraud trends and how to prevent cyber-attacks aimed at helping the industry. The past skepticism no longer holds true as companies are realizing that data combined with advanced analytics can give them the insight they need to prevent fraud in the future. Learn more on how Experian is conquering the world of big data.

Experian hosting Future of Fraud and Identity event during National Cyber Security Awareness Month Costa Mesa, Calif., Oct. 13, 2014 — Identity and fraud concerns are a pressing global issue for many industries, including financial services, public sector and retailers. With the rise in security and data breaches, many organizations across the United States are particularly challenged, due to the growth of malware viruses, mobile-payment advancements and the need to authenticate online and mobile consumers better. To help business leaders address these rising fraud and identity issues, Experian® is hosting the Future of Fraud and Identity event on Oct. 21 in New York City, N.Y. The event will feature: Ori Eisen, Experian fraud expert and founder of 41st Parameter, highlighting the current trends in cybersecurity and how technology can combat these major threats Frank Abagnale, of Catch Me If You Can fame and respected authority on financial crime and fraud, sharing his personal story highlighting his work with numerous financial institutions over the past 38 years Charles Chung, president of Experian Decision Analytics, a global leader in fraud and identity products, opening the event Jon Jones, senior vice president of fraud and identity for Experian Decision Analytics, presenting Experian’s strategic view on identity risk management Many organizations are trying to address fraud risks while adapting to the changing habits of customers. One example of this is the acceptance of new mobile-payment options that are driving a transformation of the payments ecosystem. Current mobile-fraud trends include the use of increasingly sophisticated malware as attackers capitalize on banks and retailers providing these new service offerings to consumers via mobile devices. “Gaining control in this dynamic fraud environment is a major challenge for businesses as the Internet and mobile technologies were not designed with fraud in mind. Consumers accessing their financial or personal data at any time is a key fraud risk today, further enabling criminal activity,” said Eisen. “As companies invest to meet customer expectations and ensure that payments are secure and reliable, we see an urgent need for proactive next-generation security measures with fraud detection and intelligent device identification for corporate accounts and online transactions.” In 2013, identity theft affected more than 13 million U.S. consumers and accounted for more than $18 billion in losses. As technologies evolve and information security tightens, the savvy nature of fraudsters becomes more sophisticated. As a result, fraud management needs to evolve and include both offline and online fraud strategies to provide a panoramic view of the customer. In order to achieve this, authentication processes need to become seamless and straightforward to allow both the consumer and the business to feel confident in the authentication process while creating a positive customer experience. “Serious risks are emerging for consumers and businesses as fraudsters identify new targets to attack. The monetary cost of fraud losses can be high, but the impact a loss or breach can have on customer relationships and brand integrity can be even higher,” said Chung. “Combining comprehensive authentication processes with proportionate measures to monitor user activities and protect consumer data throughout the life cycle is a competitive requirement in today’s market.” The Future of Fraud and Identity event will take place on Oct. 21 in New York City, from 7:30 a.m. to noon at the Helen Mills Event Space at 137 West 26th Street.

According to new research from Experian Marketing Services, a recognized leader in data-driven marketing, 90 percent of marketers struggle to move beyond single-channel marketing programs to optimize their marketing across channels or around the customer. The company today announced an expansion of its strategic, cross-channel consulting offerings to address this need and help organizations increase the sophistication and effectiveness of their marketing programs. Marketers can now take a free online assessment to discover where their organization falls on Experian’s Marketing Sophistication Curve The new program, which offers marketers strategic guidance around common marketing pain points, is designed to help them progress up Experian’s Marketing Sophistication CurveSM. The curve is a framework and road map that allows organizations to accurately assess the state of their marketing operations and identify the steps necessary for creating individualized marketing experiences around the customer. “Recognizing the need to change and knowing how to make that happen are two entirely different things,” said Matt Seeley, president, Experian Marketing Services, North America. “While the industry is exploding with marketing clouds and automation technology, most organizations have unique challenges that off-the-shelf software doesn’t address. Experian’s Marketing Sophistication Curve offers marketers help with the first critical step in that process: an understanding of where you are today and what you need to do tomorrow.” Experian Marketing Services is offering marketers a chance to identify where they fall on the curve on its Website. The four phases of Experian’s Marketing Sophistication Curve The culmination of more than 30 years of experience working with the world’s top brands to improve their marketing effectiveness, Experian’s Marketing Sophistication Curve outlines four primary phases of marketing sophistication: Phase I: Single-Channel Optimization — Brands at this stage seek new sources of data and analytical approaches to do more with existing programs and tools. They struggle to achieve a higher performance from data-driven campaigns. Phase II: Multichannel Marketing — Organizations at this stage engage customers across multiple channels but seek greater consistency. They struggle to incorporate newer channels, like mobile, into their messaging strategy. Phase III: Cross-Channel Marketing — The marketing organization at this stage implements cross-channel marketing programs but struggles to organize data and target campaign content around customers easily, consistently and in useful time frames. Phase IV: Cross-Channel Optimization — This is the apex of modern marketing, where customer context, location and timing merge with every imaginable form of customer data to create a single, shared and immediate view of the customer across all channels. Improving marketing by addressing the common pain points Experian Marketing Services’ new cross-channel consulting program offers marketers a set of new bundled offerings around three common pain points that must be addressed as marketers move from one phase of the curve to the next: acquisition, growth and retention, and win-back. “As new technologies and channels are introduced, consumer behavior changes, and in return how we assess and approach these traditional marketing issues needs to evolve,” continued Seeley. “The curve’s framework and the addition of the new strategic consulting bundles to our existing portfolio are part of our long-term commitment to be both a superior marketing technology provider and a strategic partner for leading marketers around the world.”

Experian Consumer Services Lanza Producto Crediticia en Español  Experian Consumer Services in association with Univision Communications Inc., the leading media company serving Hispanic America, recently launched a Spanish-language, credit-focused product and online financial resource center for the U.S. Hispanic community called Crédito y Más. The new product was developed to improve Hispanics access to credit education and resources. With Crédito y Más, consumers can check their credit score, receive a credit report, and have credit monitoring, among other benefits and access the information in Spanish or English. One of the most valuable features is the Centro de Información™, a robust resource center with articles, videos, financial calculators, a glossary of key credit terms and more. The additional unique features include: Access to VantageScore® 3.0. – with scores ranging from 300 to 850, VantageScore® 3.0 is a user-friendly credit score model developed by the three major nationwide credit reporting agencies, Experian®, TransUnion®, and Equifax® Communication Preference Settings – the member can select to receive communications (email and SMS) in either Spanish or English Instructional Guides – an interactive experience provides clarity in Spanish and English around how to read a credit report and the information found in each section of the website Bilingual Agents – members will have access via phone to Experian Customer Service representatives and Fraud Resolution Agents for support that are fully bilingual Identity Theft Insurance – the $10,000 insurance policy can cover legal fees, lost wages and other costs resulting from identity theft For more information and to enroll in the product membership, consumers can visit www.creditoymas.com. Para más información y cómo registrarse en una membrecía con Crédito y Más, visite www.creditoymas.com.

How can I improve my credit score? That’s a question thousands of consumers ask Experian every day. This question is asked even more frequently now that lenders are sending an estimated 120 million credit-score disclosures each year to consumers when they are denied credit or are offered terms that are less favorable than those offered to others. These score disclosures provide consumers with basic information about the score used in a transaction and direct them to the national credit bureaus if they have any questions. However, when consumers ask Experian how they can improve their credit standing, it’s difficult to respond in an easy and consumer-friendly way. The difficulty arises because, although we want to help, the Credit Repair Organizations Act (CROA) puts substantial roadblocks between credit bureaus and consumers. What is CROA? CROA was enacted in 1996 with the goal of stamping out the deceptive practices of credit clinics, or “credit doctors.” These clinics scam consumers by promising, often for exorbitant fees, to help improve their credit by, among other things, removing negative but accurate information from their credit file. Today, CROA remains an essential piece of consumer-protection legislation. It plays an important role in shielding consumers from the unfair and deceptive practices of unscrupulous credit clinics, which is why we supported the law’s passage in the first place. However, the law has been applied by courts in ways that Congress never intended. As it currently stands, court decisions call into question the ability of nationwide credit bureaus — the very entities that are best positioned to provide information about credit scores and credit reports or to educate consumers as to how to improve them — to help consumers understand and improve their credit in a manner that is timely or practical. For example, consumers who reach out to Experian for specific advice about their personal credit report and how to improve their credit score must wait at least three business days from when they sign up to receive the information. The consumer cannot waive this waiting period no matter what. In today’s connected world, providing legitimate services three days after the consumer asks for help just doesn’t work. It’s time for Congress to update CROA to reflect current technology and market realities. CROA’s Misapplication Has Stifled Innovation in Credit Education This misapplication of CROA chills innovation and the delivery of effective consumer-education products and services. Amending CROA to make clear that credit bureaus are able to deliver new, timely and effective financial literacy tools would positively impact on the lives of individual consumers. As our nation rebuilds its economic engine after the recent recession, a large portion of the population continues to be impacted by the housing and financial crisis. It’s estimated that more than 40 percent of Americans have a low credit score, which either leads to credit denial or a higher interest rate. According to Experian’s research, 16 million consumers potentially could move beyond a subprime credit score and another 16 million consumers potentially could move into a prime credit score by taking legitimate steps that increase their VantageScore® credit score by 30 points. That’s 32 million consumers who potentially could benefit from the recovery of their credit score by using innovative education tools such as those that Experian would like to bring to the market. Credit-education tools can also help chip away at the more than 60 million consumers in our country that are considered “credit invisibles.” These individuals either have thin or no credit file, making it impossible for them to be scored. Legitimate credit-education tools can help consumers build credit profiles by understanding the responsible actions they can take to establish a financial identity and build a credit history. Credit education is not important just for individual consumers. It also is vital to small businesses because most small-business owners rely on their own personal credit standing to access capital to grow their business or hire new employees. How Can Congress Help Improve Financial Education? For these reasons, Experian® is encouraging Congress to pass H.R. 5446, the Facilitating Access to Credit Act of 2014. The bipartisan legislation introduced by Reps. Ed Royce, R-Calif., and Ruben Hinojosa, D-Texas, would exempt reputable nationwide Consumer Financial Protection Bureau–supervised credit bureaus, such as Experian, from CROA’s requirements. The legislation also would ensure that the statute’s critical consumer protections still could be enforced against unscrupulous credit clinics. Recognizing the positive impact of CROA reform on financial literacy in the communities that they represent, several national organizations have signed on to this important effort. Policy resolutions supporting reform of CROA have been adopted by the National Black Caucus of State Legislators, the National Hispanic Caucus of State Legislators, the National Bankers Association and the United States Hispanic Chamber of Commerce. Written by: Tony Hadley, Senior Vice President, Government and Regulatory Affairs at Experian VantageScore® is a registered trademark of VantageScore Solutions, LLC.

Just a little over a week ago, I was in New Orleans surrounded by interesting, engaging and financially-savvy people with a common interest. All of these people were brought together for FinCon Expo, which took place from September 18-21. It was not only a tremendous financial media community networking event, it was an opportunity to learn, grow and find inspiration. From the Experian perspective, it was an opportunity to further build and focus on our social channels as a way to reach consumers and provide education and dialog around credit and financial empowerment. The two-day conference featured an expo hall where one could score some great information (along with some cool swag), keynote sessions that were led by powerful speakers like Jeff Goins, Farnoosh Torabi and Chris Ducker, and a full daily schedule packed with educational sessions and panel discussions (and of course, a lot of beignets served along the way). In the midst of all of this FinCon activity, Experian was named one of the Plutus award winners. We were honored and pleased to be highlighted as the winner of the Plutus award for “Best Use of Social Media by a Brand”. To learn more about this award, see our latest news release. As a company that is continually looking for ways to engage consumers through social channels, we were thrilled to see that our efforts are being recognized. This category is voted on by bloggers, who we view as partners and resources. We believe that together, we can really make a difference in helping people understand credit and how the financial decisions they make can affect them. Whether it’s through our weekly #CreditChat on YouTube and Twitter, SlideShare decks, Facebook conversations,  and blog, we are striving to provide a support system online that is available to anyone that wants to engage. The combination of the excitement and activity of being at FinCon, receiving the Plutus Award and consuming a whole lot of beignets made for a very special and sweet experience in New Orleans. Visit FinCon Expo and Plutus Awards for more information on both of these events.

The power of data is good. Couple it with analytics and it becomes great. Derive real and tangible insight from this process, and you are left with a very potent tool to affect real change and do a lot of good in the process. At Experian, we have deep experience harnessing the power of data, in fact, we have been doing it since 1897. Using our insights to help merchants and consumers by providing an annual credit reference directory, we were using “big data” before big data was a buzz word. Fast forward to today, Experian is still working across sectors and categories to help business and consumers alike benefit from the intelligent use of data through insight. Our data assets are used globally to help consumers, financial institutions, healthcare organizations, automotive companies, retailers and governmental organizations make more informed and effective decisions. These days, “Big Data,” however, has become a cliché and often times carries a negative connotation due in part by the activity of some bad actors, but also because people tend to be afraid of the things they don’t fully understand. We look at “Big Data” differently. I’d like to take this opportunity to help shed some light on why data and the insights derived from that data are actually good. We are, by and large, better when we can make sense of the world around us, and that world today is made more complex due to the vast amount of information that’s out there. Experian’s business is predicated on the idea that we come to work every day to help society make better sense of the world by sifting through the information and coming up with solutions for real people, partners, governments and clients. Our insights are very often the cornerstone of solutions to real life challenges. Insight is used to help a consumer secure an affordable loan, understand their credit score, or protect their identity; or for a business to manage risk, help prevent fraudulent transactions, and to ensure they are marketing their products and services to the right consumers at the right time and across the right channels. Today, insights derived from data are enabling millions to obtain their first lines of credit. For example, by reporting, collecting and analyzing on-time rental payments, more Americans are building the credit histories necessary for financial and economic inclusion. In fact, a new analysis from Credit Builders Alliance recently confirmed the value of credit building for American citizens and the overall economy. Across the nation, examples like these abound. In each instance, information is helping to solve some of our most vexing public, societal and corporate problems, and at Experian, we celebrate our teams of data scientists and innovators who set out to solve some of these problems using big data and technology. In fact, this week we are gathering our team of global data scientists at our Future of Information Conference to collaborate and share break through innovations in data science. At the conference, we will also award the inaugural Si Ramo Prize, a global competition in data science named for the extraordinary pioneer of innovation in our industry, Dr. Si Ramo. Among other things, Dr. Ramo was one of the first to envision a cashless society and the data needed to drive that innovation. The future is bright and there’s still more we can do with data to drive growth and improve national policies. We’re working with the health care industry – and others, from energy to automotive to the multi-family housing community and government – to fully leverage data. We now need others to recognize and embrace its potential. So, yes, big data is good. The responsible, smart and compliant use of big data benefits people, our society and our economy. I invite you to browse through our site to learn more about what our company does and the programs we have in place. Click here to learn more about how Experian is conquering the world of big data. Craig Boundy is CEO of Experian North America.