According to a new study by Experian Marketing Services, niche social networks significantly increased their market share of all visits to social sites, with Instagram and Pinterest leading the pack. The following graph illustrates the global growth between July 2011 and July 2012, based on share of visits to all sites by country: Other niche social networks that have experienced significant gain include Stock Twits in the US, Redidt in Australia, and FanPop in the UK. According to Bill Tancer, head of Global Research at Experian Marketing Services, the growth of Instagram and Pinterest over the past year has been successful because they haven’t tried to be ‘another Facebook.’ Both networks are image based – something people love and relate to better than just words. For retail brands, sites like Pinterest present a great opportunity to promote products in a compelling and organized way to a wide group of people, globally. Deeper functionally, combined with a lower technical barrier to entry, will result in new leaders in social media being created, accepted and used within a matter of days – compared to the rate of adoption happening now over the course of weeks and months. Also included in the study for July 2011 to July 2012: What social networks do you use most frequently? Do the results of this study surprise you at all? Feel free to share your thoughts with our readers in the comments section below.

Experian Marketing Services is hosting its annual Digital Summit (today through Friday) at the Venetian Hotel in Las Vegas. This premier digital marketing event, with the theme, “Customer Obsession: Empowering Meaningful Relationships,” features highly engaging and inspiring learning sessions, providing marketers with key insights and best practices for keeping their customers at the heart and center of everything they do. Attendees are learning from marketing experts about the latest trends in digital marketing across email, mobile, social, search and display. In addition, content from the event delves deep into understanding the new American consumer and the latest in cross-channel marketing. Here are a few highlights from today’s Digital Summit main stage and breakout sessions: And here are some of our favorite tweets:   Learn more about the 2012 Digital Summit and follow along on twitter #CMSummit and view photos on our Pinterest board.  View this blog tomorrow for updates.

Experian®, the leading global information services company, today announced that its Precise ID  platform has achieved Federal Identity Credential Access Management (FICAM) recognition at Assurance Level 3 for identity proofing. "Experian has become the leading identity proofing provider in the public sector," said Kerry Williams, group president, Experian Credit Services and Decision Analytics. "Our recent wins with large government agencies, our joint offering with Symantec and now our FICAM Recognition at Assurance Level 3 prove we are clearly moving ahead of the competition when it comes to granting online access to services while simultaneously protecting individual users' identities and therefore safeguarding agency and constituent data." Experian's Precise ID platform was recognized for identity proofing at Assurance Level 3, under the Kantara Initiative's Identity Assurance Framework, one of the FICAM's Trusted Framework providers. As part of the process, a Kantara-Accredited Assessor determined that Experian's Precise ID solution conformed to the Identity Assurance Framework's Service Assessment Criteria, which enable a relying party to trust the identity and security assurances from an identity or credential service provider. This level of service component approval meets the identity proofing requirements established by the U.S. federal government's General Services Administration (GSA) that were published by the Office of Management and Budget and requires agencies to establish certain security criteria for remote authentication. In addition to The National Institute of Standards and Technology (NIST) Special Publication 800-63 guidelines that recommend the technical safeguards, the Drug Enforcement Administration mandated that doctors who issue prescriptions online (e-prescriptions) must conform to applicable NIST guidelines. The service component approval is also in line with the White House's identity-management initiative to make online transactions more trustworthy. This effort — known as the National Strategy for Trusted Identities in Cyberspace — is aimed at creating an Internet-identity ecosystem that uses interoperable technology standards and policies to authenticate not only consumers, but also organizations and IT infrastructure. "Experian is one of the leaders in identity proofing," said Deborah Gallagher, director, identity assurance and trusted access division, GSA. "We are encouraged to see the U.S. government's vision take shape through the private sector, as we advance our strategy to develop a trusted Internet framework that would better protect users through strong identity programs." Experian's Precise ID platform is being used by the Social Security Administration, Centers for Medicare & Medicaid Services and DrFirst. "We are pleased to work with Experian as a Kantara member and industry leader to build the verified Trust layer in Identity Services via a scalable component approach, which allows for innovation and industry partnerships that enable more trusted services, interoperability and efficiency for public and enterprise sector identity management solutions," said Joni Brennan, executive director, Kantara Initiative.

It’s a good time for us all to start thinking about what we are going to do to keep our finances in good shape. At Experian, we are here to help you. During the coming weeks and months we will be providing more educational blogs, videos and #creditchat that will help you proactively manage, build and improve your credit. So let’s get started with one of the most common questions people ask me: How do I dispute information that I believe is being reported inaccurately? The process is very straightforward and simple. Step 1: Go to Experian.com/dispute You can submit disputes for most information you believe to be inaccurate through Experian’s online dispute system. You can also send any supporting documentation for your disputes electronically at Experian.com/upload. You do not need to have a current copy of your personal credit report. However, requesting a copy of your personal report can help ensure you have the most recent information available, particularly if you haven’t reviewed your report for a long period of time. Step 2: Select “Start a new dispute online” box After checking the box, click “Continue.” If you have a personal report with a report number, you can select that option. If not, complete the "Access by personal information" section and select "Submit." Then, simply follow the instructions to enter your dispute information step-by-step. It is very important to be specific with your dispute. State exactly what the issue is with an account. Experian’s online dispute system simplifies the process by providing choices for the most common dispute reasons. Upon receiving your dispute, Experian will contact the source of the information, such as a lender, on your behalf. The source of the information is required by the federal Fair Credit Reporting Act (FCRA) to review its records and respond to the dispute. If you would prefer, you can submit your dispute by mail or by calling the toll-free number on your Experian credit report. Step 3: Allow 30-45 days for your dispute to be completed The dispute should be completed within 30 – 45 days after it is received by Experian. That time-frame allows documentation to be mailed if necessary. However, most disputes can be conducted through automated processes. As a result, many disputes are completed well in advance of the 30-45 day period. The source of the information will respond in one of three ways: The information should be updated in response to the dispute The information should be deleted from the credit report The information should remain as reported Once a dispute is completed you will receive a notice from Experian with the results of the dispute. If you do not agree with the history as reported by the source and cannot reach agreement, you may add a “Statement of dispute.” A statement of dispute enables you to explain why you disagree with how the information is being reported. Businesses are notified that the statement is part of your report every time you apply for credit or other services. Lenders and other businesses can take the statement into account and may ask you for more details or documentation as part of their application review process. Three steps – that is all there is to it. Experian has worked very hard to streamline the process and hopes these steps will make managing the dispute process much simpler for you. Keep in mind, however, that while the dispute process can be a powerful tool for managing your credit, it is only one of the tools in your toolbox. So stay tuned for more tips and advice.  

Experian Automotive today announced that Toyota Motor Corporation and Honda Motor Company made strong comebacks in corporate loyalty in Q1 2012 after seeing their respective rankings drop significantly after the March 2011 earthquake and tsunami in Japan. According to the Experian Automotive industry market trends and loyalty report, Toyota finished third in overall corporate loyalty, with 45.7 percent of their customers who returned to market during Q1 2012 purchasing or leasing another Toyota vehicle. Toyota’s corporate loyalty ranking had dropped to 41.8 percent in Q2 2011, the first full quarter after the earthquake and tsunami. Honda’s corporate loyalty was 42.1 percent in Q1 2012, after falling to 36.4 percent in Q3 2011. Overall, General Motors Company and Ford Motor Company finished first and second in corporate loyalty during Q1 2012 at 48.4 percent and 47.4 percent, respectively. “While General Motors and Ford continue to battle for the top spot in corporate loyalty, Toyota and Honda were both able to significantly tighten the race in the first quarter of 2012,” said Jeffrey Anderson, Experian Automotive’s director of analytics and consulting. “After the earthquake and tsunami, the Japanese OEMs suffered significant production disruptions, and many of their customers opted to go to another manufacturer when they returned to market. The drop in corporate loyalty appears to have been a temporary phenomenon, however, as their corporate loyalty is returning to pre-earthquake levels.” Chrysler Group, LLC, which saw its corporate loyalty ranking rise from 32.6 percent in Q1 2011 to 36.2 percent in Q1 2012, posted the biggest gains overall in unit sales (up more than 115,000 units) and market share, as it picked up an additional 2.4 percentage points. “Chrysler continues to gain momentum, thanks in part to the strong performance of the Chrysler 200, which grew its sales by more than 22,000 units,” Anderson said. “The Jeep and Ram brands also continue to exhibit strong sales, as Chrysler now has a more balanced portfolio of passenger cars and light trucks to help hedge against fluctuations in fuel prices.” In other highlights from Q1 2012: The redesigned Volkswagen Passat was the top-selling new vehicle entry, at more than 24,000 units. The Chevrolet Sonic was second, at more than 21,000 units. The Ford Focus, Nissan Altima and Toyota Camry were the top three fastest-growing vehicles in unit registration, with increases of more than 29,000, 26,000 and 25,000 respectively. Ford had seven of the top 10 models for brand loyalty, led by the Ford Fusion at 61.1 percent. GM had the steepest decline in market share, at 1.7 percent. Get complete findings from the Q1 2012 Experian Automotive industry market trends and loyalty report presented in our webinar on July 25 at 11 a.m. Pacific time/1 p.m. Central time/2 p.m. Eastern time. View the complete press release. Photo: Shutterstock

“Today, the CFPB announced a final rule addressing its role in supervising certain credit reporting agencies, including Experian and others that are large market participants in the industry. During a field hearing in Detroit, CFPB Director Richard Cordray spoke about a new regulatory focus on the accuracy of the information received by the credit reporting companies, the role they play in assembling and maintaining that information, and the process available to consumers for correcting errors. We look forward to working with CFPB on these important priorities. As we have stated before, Experian is no stranger to regulation – the FCRA was enacted over 40 years ago and has been aggressively enforced by the FTC. We already commit substantial resources to maintaining and improving accuracy and dispute handling. They are essential to consumers, our clients and to the value and equity we bring to our shareholders. We are pleased that Director Cordray, in his comments today, took the time to point out the foundational importance of consumer credit information in facilitating consumer access to fair and affordable credit. He also acknowledged the critical role of credit reporting in consumers’ lives. We are confident that that further careful study by CFPB will confirm the high degree of accuracy achieved by credit reporting companies that operate in a highly complex environment. Consumer participation in the credit reporting system is essential for ensuring accuracy of consumer reports. Consumers have a fundamental right to dispute information they believe is incorrect. Experian, along with the industry, has implemented effective solutions for consumers to dispute what they identify as errors in their credit reports through multiple channels with 24/7 availability, including phone, mail and internet. This system includes trained consumer assistance professionals who help expedite disputes in a timely manner. Moreover, consumers have access to a free credit report online through AnnualCreditReport.com. Any errors identified in that free report can also be disputed by phone, mail and internet. The consumer dispute system is an evolving and dynamic system, and we in fact have made many changes and improvements over the years. So we naturally welcome the opportunity to discuss reasonable ideas for improving the consumer dispute system with the CFPB. Last – and important for consumers – Director Cordray noted that consumers need to be smart about how they manage their credit. We couldn’t agree more, which is why Experian was one of the first companies to create a substantial financial literacy outreach program called “Live Credit Smart,” where we offer tips and advice for consumers through online chats, blogs and community outreach efforts.” – Tony Hadley, Senior Vice President of Government Affairs and Public Policy

The Consumer Financial Protection Bureau is coming up on its one year anniversary, and the questions still persist around what it means for credit reporting agencies and other providers of data to the financial services industry. One major focal point has been the agency’s “new” authority to supervise and examine large market participants, like Experian. Experian, in fact, is no stranger to regulation. The Fair Credit Reporting Act was enacted in 1970, and for over four decades, the Federal Trade Commission has enforced the Act vigorously. Numerous and routine amendments to the FCRA have resulted in a dynamic regulatory environment – one that has brought certainty and benefits to consumers and the economy. Today, consumers enjoy unparalleled access to fair and affordable credit, due in part to the existence of a robust, transparent and well regulated consumer credit reporting system. Consumers also benefit from maximum transparency of industry data collection and use practices, as well as wide ability to access data about them and correct errors they identify. Notably, consumers also have access to a free consumer report annually through Annualcreditreport.com. So, as we engage with CFPB under the agency’s new supervisory authority, we envision a system that will continue to facilitate consumer access to fair and affordable credit. I believe both the CFPB and Experian share this most important and fundamental goal. Meanwhile, Experian will continue to invest in the areas that help consumers, like our National Consumer Assistance Center and our financial education programs like “Live Credit Smart,” as well as our growing and important consumer products and services such as credit monitoring and identity protection, and our financial literacy services such as “credit educator.” Experian is proud of the value we deliver to consumers, financial institutions and other businesses by enabling informed lending activities. We help companies and consumers make informed decisions so our economy can be strengthened. We remain committed to meeting consumers’ and clients’ needs within regulatory guidelines, while continuing to move our business forward. – Tony Hadley, Senior Vice President of Government Affairs and Public Policy

What did you do with that envelope that used to arrive once a year with estimates of your future Social Security benefits? You might have reviewed the information. You may have even filed the statement away as a reference. Now, this powerful financial planning tool is as close as the nearest computer. "Often, people don't think of their Social Security statement when thinking of their financial well-being," says Rod Griffin, director of public education for Experian. "But your statement can be a valuable financial planning tool." Your SSA statement is now available online at www.socialsecurity.gov/mystatement. It provides an estimate of the amount of Social Security benefits you could receive upon retiring, but it can also help you with retirement savings strategies, estate planning and making decisions about disability insurance. Retirement Savings Knowing how much your Social Security payments will be can help you better understand how much you'll need to save in other vehicles to fund your lifestyle during retirement. After reviewing your statement online, you may decide to adjust your 401(k) contributions, open an IRA or seek other avenues for funding your retirement. The statement can also help you work with your current employer to ensure they're withholding the appropriate amounts. Estate Planning Your online statement will also give you an estimate of how much your survivors might be eligible for if you die. This information covers both spouses and minor dependent children. "This could be useful information when you're planning how you will financially take care of your loved ones if you pass away," Griffin says. Estate planning often involves considering what sources of income will be available to survivors, and knowing how much Social Security benefits yours could be eligible for can help in the planning process. Disability Decisions According to the SSA, 62 is the earliest age people can collect a reduced Social Security retirement payment, and the full retirement age is 67 for people born after 1960. But a 20-year-old worker has a three in 10 chance of becoming disabled before reaching retirement age, and the average age of people receiving Social Security disability benefits is just 53 years old. If you have a health problem that you know will lead to disability, knowing how much you could expect to receive from Social Security may help you make decisions about how much disability insurance you'll need. With the availability to access your Social Security earnings and benefit information online, it's easier than ever to make use of this important financial planning tool. The SSA uses Experian's fraud prevention services to securely authenticate and safeguard the identities of people accessing their earnings and benefits information online. To access your statement, go to www.socialsecurity.gov/mystatement, create an account and provide the information as prompted. You'll be able to access your benefit information and even see a history of your annual earnings for every year. For more information on how to live financially smart, go to www.livecreditsmart.com. Photo: Shutterstock

The Social Security Administration recently announced that in less than two months’ time, one million people have gone online, created a My Social Security account and viewed their Social Security Statement. The online Statement provides estimates for retirement, disability and survivors benefits. It also provides workers as young as 18 a convenient year-round way to determine whether their earnings are accurately posted to their Social Security records, which was not possible when the agency mailed paper Statements only to those 25 and older. On May 1, Social Security unveiled this new addition to its popular suite of electronic services at www.socialsecurity.gov/mystatement, which allows people to access their Social Security earnings and benefit information securely and conveniently. According to the American Customer Satisfaction Index (ASCI), users are giving the online Statement a score of 89 — making it competitive with Social Security’s other top-rated, best-in-government online services, such as the Retirement Estimator and online retirement application. The ASCI tracks trends in customer’s satisfaction and provides valuable benchmarking insights for companies and government agencies. As part of this online process, the SSA uses Experian's fraud prevention services to securely authenticate and safeguard the identities of people accessing their earnings and benefits information online. To access your online Statement, you must be at least 18 years old, have a Social Security number, have a valid email address and have a U.S. mailing address. To learn more or to create your own account, please go to www.socialsecurity.gov/mystatement. One Million People Go Online to Access Their Social Security Statement ex.pn/LWqzlG via @tronbueno — Experian News (@ExperianNews) July 3, 2012