Elio Vitucci, CEO of Experian MicroAnalytics, authored the op-ed Financial Empowerment for the Emerging Market Consumer in U.S. News & World Report.
To date, Experian MicroAnalytics has extended over 4.9 billion credit offers to the world’s unbanked people, and nearly half of those offers were in the past year.
The new emerging market consumer is becoming empowered with tools and services needed for a better quality of life and economic vitality. Experian MicroAnalytics contributes to global progress by helping those with no credit history gain access to credit and financial products for their businesses and personal needs.
In regions where financial history doesn’t exist, understanding creditworthiness is a challenge. While only a small minority of people in emerging markets have access to credit services, the vast majority have access to mobile services — most of them on a prepaid plan. As such, an alternate credit identity can now be established.
Financial services in the emerging world are drastically underserving the potential banked population. Long-term economic growth in the emerging world hinges on access to financial services. Unlocking the new consumer’s credit capability is the new financial frontier.
Learn more about how Experian is empowering emerging market consumers with financial products and services to improve quality of life and increase prosperity around the world.