Financial Empowerment

With data technology and innovation as the backbone of our company and with our commitment to celebrating diversity, we are proud to share an incredible recognition: AnitaB.org has named Experian North America a Top Company for Women Technologists. Organizations on this list are committed to building workplaces where women technologists can thrive, and this honor is considered an industry benchmark for progress toward equity. Our culture of inclusion internally at Experian fuels our innovations to achieve financial inclusion externally. Being named a Leader by AnitaB.org for the second time affirms we’re moving in the right direction. September has been a big month for us: we also earned a place in Fortune’s Best Workplaces for Women and PEOPLE’s 100 Companies That Care 2021 lists for the first time. My colleague and fellow leader for our Women in Experian employee resource group Karen Tatten shares my sentiments: “It’s fantastic to see our efforts to hire, promote and retain top female talent recognized in the marketplace. It’s a tremendous honor and reminder to all women in Experian of why we chose Experian for our career journey.” At Experian North America, men and women are promoted equally. More than half of our new hires and close to half of all employees identify as women. Former Chief Executive Officer Craig Boundy was recently recognized as a Best CEO for Women by Comparably, an acknowledgement especially meaningful because the award relied solely on the input of employees. Even with these accolades, we strive for better. This year, we are committed to a specific goal for the company globally to help close the gender gap. By 2024, Experian pledges to increase the proportion of women in our executive committee and direct reports to 30%, our senior leaders to 40%, our mid-level leaders to 42%, and our total global workforce to 47%. We look forward to sharing our progress.

When it comes to access to credit, we know that it’s not equal. There are barriers some consumers face, and that negatively affects how they can spend, save and borrow money. We have a responsibility to find and facilitate solutions. Financial inclusion is a core commitment for us. That’s why we are excited to launch a first-of-its-kind program called Inclusion Forward – Experian Empowering Opportunities™. This initiative harnesses Experian’s data, analytics and technology that can help clients create and provide more affordable credit access. Additionally, Inclusion Forward™ will provide ongoing resources to help consumers better understand their credit health, particularly in diverse communities. Inclusion Forward™ will focus on three key areas: homeownership, small business entrepreneurship and financial education. It can help companies achieve their diversity, equity and inclusion goals, but most importantly, it will help consumers achieve their life goals. Closing the wealth gap is key in racial equity efforts. By unlocking the power of Experian data, clients can better understand the financial challenges consumers from diverse backgrounds may face. This can lead to creating solutions and education for all consumers. We look forward to sharing more about Inclusion Forward™ and how this program is making a difference in underserved communities. To learn more about Experian’s commitment to diversity and inclusion, click here.

Experian works hard at having a workplace culture where everyone feels a sense of belonging. We’re constantly evolving and improving, and proud to share several recent acknowledgements that we’re on the right track. We have a robust multi-generational employee base, and know that the diversity of perspectives and experience spark innovations that lead to financial inclusion for all. Millennials make up the largest portion of our workforce and we’re thrilled to be named a Fortune Best Workplace for Millennials. Millennials want to work for organizations that offer fair pay and meaning, inclusive benefits beyond parenthood, gender equity, flexibility and safe spaces, according to Great Place to Work (GPTW). Employee comments to a GPTW survey indicate our team believes we are doing well: “One question you ask is do we hire people who fit in... No, we don't always - which is why we can innovate and create change - if everyone agrees on every approach, we wouldn't be nearly as successful as we are. That's one thing that makes it a great place to work - our diversity of thought and approach to problems.” Gender equity has been a focus of ours, from recruiting to talent development. Almost half of our new hires, current employees and promoted talent identify as women. Further demonstrating our commitment to diversity and inclusion, former Experian North American CEO Craig Boundy is ranked the #12 Best CEO for Women 2021 by Comparably. This ranking is based on 10 million ratings across 60,000 companies, Every CEO on the list is in the Top 5% of all CEOs rated by female employees. Experian also earned several other awards from Comparably: Best HR Teams of 2021 Best Company Outlook of 2021 Best Places to Work in Los Angeles 2021 Top 10 for Career Growth “I've worked for a ton of different technology companies and have never seen such a strong leadership team nor seen a company invest so much in their employee's future!” (quote from GPTW survey) “Opportunity to grow and move around various lines of business through your career within Experian - allows you to continue to challenge yourself and grow without leaving the organization.” (quote from GPTW survey) Comparably’s Annual Best Places to Work Awards rely solely on the input of employees, which makes these honors especially meaningful. We appreciate their feedback and their contributions every day. Check out our 2020 Power of YOU report to learn more about our coworkers, leadership and how we serve our communities.

At some point in all of our lives, we will know, or perhaps be ourselves, a person with a disability. It’s a natural part of the human experience, and it crosses lines of age, ethnicity, gender, gender identity, race, sexual orientation, socioeconomic status and religion. Globally, more than a billion people are part of this community. As society recognizes this commonality, it’s critical that companies do too. Experian does, and I’m happy to share that we have been named to the 2021 Disability Equality Index (DEI) as a Top Scorer. This honor from Disability:IN and the American Association of People with Disabilities (AAPD) is considered the most robust disability inclusion assessment tool in business. At the most important level – for our people – it means we’re creating an environment where employees of varying abilities know there is place for them at Experian. To know they feel supported, and that we’re going to do all we can to ensure they continue to grow and develop their careers is the most meaningful part of this award. Part of our ongoing commitment includes having an individual who focuses on ensuring our systems, facilities and processes evolve and ultimately exceed regulatory requirements. Only a handful of companies across the nation has a role focused on disability inclusion; it’s exciting to be one of the trailblazers of this work. Being named a 2021 “Best Place to Work for Disability Inclusion” acknowledges this point in our journey and we will continue the work in all the countries in which we do business. This work matters.

At Experian, we strive to be an organization where everyone can bring their whole selves to work and we’re committed to having a positive inclusive culture. Hiq Lee, president of Experian’s Business Information Services, has been a key leader in driving our diversity, equity and inclusion efforts. We are thrilled to share that The Council for Inclusion in Financial Services is recognizing her work, honoring her with this year’s Trailblazer Award. The award recognizes demonstrated excellence in establishing new and creative Diversity, Equity and Inclusion (DEI) initiatives that are influencing transformation in the recipient’s industry and their communities. Also serving as Experian’s Diversity and Inclusion Executive Co-Chair, Hiq has been instrumental in establishing many of our employee resource groups and the leadership collective that continues to evolve the way we celebrate our diversity. Hiq shares how we celebrate DE&I every day: What is Experian doing to ensure a positive work environment for employees? In 2017 we started our Power of You movement to raise awareness about Experian’s efforts in diversity, equity and inclusion and provide employees transparency into the initiatives that are part of the program. Subsequently, we advanced policies across a wide range of initiatives such as pay equity, paternal leave, flexible working arrangements, and corporate social responsibility to help employees feel empowered to work at Experian. Then in 2018, we launched Employee Resource Groups (ERGs), which are company-supported networks run by employees, which create a strong sense of community and connection. All of our ERGs have a core set of objectives that describe the positive impact they focus on making. As of today Experian has eight active ERGs, which focus on Military Veterans and Patriots, the African American community, the Asian community, the Latinx community, the Indian community, the Experian Pride Network, Women, and individuals with disabilities and mental health & well-being. Corporations and their DEI efforts are under a microscope today, and many of those efforts can be seen as uniform across all major companies. What sets the ERGs at Experian apart? Experian ERGs were formed to provide tangible support to our employee base by strengthening the feeling of community and belonging across our organization. At Experian, we realize that digital transformation is human transformation. We understood that culture and belonging have to be at the heart of our organization in order for our teams to drive and develop the best products and innovations. We genuinely embrace a culture where everyone has a true sense of belonging, knowing they can show up every day and be who they are, professionally and personally. We work hard to create an environment where everyone is comfortable bringing their whole self to work, regardless of differences and backgrounds. It’s about advancing a culture that not only respects differences, but actively celebrates them. What are the most essential contributions someone who is spearheading DEI initiatives at their company can make? The key is empathy and a profound desire for elevating the communities we work and play in. There are several essential components to trailblazing DE&I efforts, including an affinity for change and passion for embracing cultures outside of one’s own. There’s also a significant importance in engaging employees at all levels of management. At Experian, we operate in 44 countries around the world and aim to emphasize and highlight the unique experiences and perspectives in our employees’ own words, describing their experience as members of an organization that values and celebrates diversity and inclusion. What does this award mean to you and your role at Experian? I’m humbled by such recognition as there’s always so much to learn and so many perspectives through which we can assess the world around us. This award is special because I’ve invested time and energy into creating more equitable and diverse spaces, not only at Experian but also in my community. Our teams are committed to creating opportunities for small businesses and consumers to succeed. We know that having a diverse team only helps further that mission. What are your most important values as a leader? The leaders who I have come to respect and look up to have a few principle values in common. Those values are grounded on integrity, authenticity, nonjudgmental and empathy. I also believe it’s important that leaders genuinely have passion for their team and are whole heartedly dedicated to helping their team’s development. These values will help influence shaping our inclusive culture where people can thrive and feel amazing coming to work every day, charged and ready to go the extra mile for their leaders.

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 aspire to be one of the best companies in the world to work for - a diverse, equitable and inclusive workplace that our people feel proud to be part of. We have over 17,800 people in 44 countries, 94 different nationalities and an age profile that spans 5 generations. With such a broad, multi-cultural environment, we want everyone to feel supported, included and able to grow and succeed. Today we have published our first Global Diversity, Equity and Inclusion (DEI) Report, an opportunity for us to reinforce our commitment to making Experian a place where everyone can be themselves at work – and to map the progress we are making on improving our diversity as a business. The events of the past year have shown the uneven impact of the global pandemic on certain communities. It has also demonstrated how important it is for our people to feel safe, secure, and connected to one another. This has strengthened our determination to continue building our ‘people first’ culture to be even better than it is today. We have taken the opportunity to stand back and evaluate our work on DEI, and this year we will focus on five priority areas which include, assigning executive level sponsors; developing a better data set to understand our demographics; reviewing our hiring practices both internally and externally; increasing transparency and accountability; and empowering our people to help us create a more diverse and inclusive business. We have also set specific diversity, equity and inclusion targets to hold ourselves accountable and to monitor our progress. We know there’s always more work to do, but the steps we are taking are the right ones to move us forward. We have big ambitions as a company and achieving these rely on us having the widest range of talent possible. We know that If we continue to live up to our purpose and stay true to our diversity, equity and inclusion ambitions, we will make Experian a better and stronger company in the process. Read the full Global Diversity, Equity and Inclusion (DEI) Report here. Jacky Simmonds is Experian’s Chief People Officer.

In many countries around the world June 1st marks the beginning of Pride Month. This annual celebration of the LGBTQ+ community is a time to reflect on the progress that has been made and the work there is still to do for LGBTQ+ equality around the world.   As well as being a time of celebration, Pride Month offers a chance for us to get to know each other better. It is a time to think about how we create a truly inclusive workplace for everyone, regardless of sexual orientation, gender identity or gender expression.   Everyone should feel safe, included and respected at work. It is up to all of us to create the right environment for LGBTQ+ colleagues to prosper and thrive, and we’re proud to work closely with partners like Stonewall and Out & Equal to help us achieve that goal.  Around the world, Experian stands for diversity, for equity and inclusion. We support and welcome our LGBTQ+ colleagues, and we are proud to celebrate with you today and every day. 

A little more than a year removed from the beginning of the pandemic, and we’re still seeing many of the most vulnerable and underserved communities struggling to find a stable financial foothold. These are consumers with little to no credit history and are often underrepresented in the network of bank branches and sometimes less familiar with what’s available to them in the consumer credit system. The pandemic has taken a toll on the fabric of our financial ecosystem, and we need to help these consumers get back on their feet. That’s one of the reasons we’ve partnered with the 100 Black Men of Greater Washington, D.C. Together, we’re launching a broad financial health initiative to assist multiple African American communities suffering COVID-19-related hardship. But the partnership is just one of the ways Experian is assisting marginalized and underserved communities. Addressing Financial Inclusion Experian is deeply committed to helping marginalized and low-income communities access the financial resources they need to live. That’s why we’re working to ensure we find ways to help underserved consumers gain access to fair and affordable credit by assisting them in building their credit profiles. We view ourselves as “The Consumers’ Bureau,” and it’s our commensurate responsibility to do everything we can to drive financial inclusion. We are working side-by-side with lenders, credit scoring companies and consumers to eliminate credit invisibility and improve financial equity. Our teams at Experian, diverse as they are, feel passionate about this very important mission. We understand that a big part of the solution relies on bringing new sources of data into our credit files, so that credit scores reflect all of a consumers’ relevant financial behavior. We strongly believe that these new sources of data will augment and thereby enhance our current credit data as an effective means for lenders’ assessment of a consumer’s financial situation. There’s a percentage of the population—on average, it’s 17% of Americans, measured by FICO—who are excluded from the credit economy because they simply lack a credit history. To that end, we’ve been a pioneer in using rental, utilities and telecom payment data to help broaden credit access for consumers. Boosting 6 Million In fact, more than two years ago, we created Experian Boost, which was a first-of-its-kind service designed to help consumers instantly improve their FICO® Score by giving them credit for on-time utility, telecom and streaming service payments. All of those elements are conceived to be part of people’s credit scores, however utility and cell phone providers have not collaborated to report their data to all credit bureaus. With Experian Boost, we empower consumers to report the data themselves, and more importantly, 70% of consumers benefit from doing so, seeing an uplift in their credit score. And to date, more than 6 million consumers have used Experian Boost with over 50 million cumulative points added to FICO Scores across the US. Our Commitment to Financial Health But our commitment doesn’t end there. Consumer credit education and best practices are key to setting marginalized consumers up for financial success. Through Experian’s United for Financial Health initiative—we’re empowering vulnerable people and communities to improve their financial wellbeing through that very belief. In addition to our partnership with the 100 Black Men of Greater Washington, D.C., we’re working closely with Operation HOPE, Black Girl Ventures, and NAACP Empowerment Programs, to help disenfranchised groups improve their credit standing, provide entrepreneurial education for Black and Brown women entrepreneurs, and offer grants to help homeowners at risk of losing their homes In addition to our consumer credit education initiatives with our partners, we continually push credit education materials and programming through our own social media channels and community outreach efforts. In honor of Financial Literacy Month, we’re hosting a #CreditChat on Wednesday, April 28 at 3 p.m. ET, entitled, Closing the Financial Literacy Gap in Underserved Communities.   We believe helping underserved communities better understand the credit ecosystem and equipping them with the tools and knowledge to improve their credit standing, are mission critical to a healthier financial life. And we’re hopeful this #CreditChat discussion is another step forward in that journey. We won’t rest until the job’s done. We’ll continue to innovate and find new ways to use data in the credit scoring process, and work arm-in-arm with consumers and lenders to improve financial access. Through our investments in data and advanced analytics, we’ll 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 will continue to take strides to do so.