News

There’s a lot of commentary in the press today as a result of a report the Federal Trade Commission issued this morning about the accuracy of credit reports. This gives me the opportunity to share some insight into Experian’s business and how we actively manage the integrity of our data. After thoroughly reviewing the FTC report issued today, we believe it confirms that consumer credit reports are predominately accurate and serving lenders and consumers well.

As you may have seen, 60 Minutes ran a story on the credit reporting industry tonight, and unfortunately, much of the story was inaccurate and misleading. The focus of the segment was on data accuracy and the results of the yet-to-be released FTC accuracy study. Many parts of the story did not accurately reflect the facts that have been validated by independent third party studies, the industry’s position or Experian’s position. As such, we would like to clarify our industry position and specific allegations about Experian’s practices.

As the global leader in the credit business, it’s our responsibility to assist lenders in managing consumer credit risk, and importantly, to empower consumers to understand and responsibly use credit in their financial lives. These responsibilities require a commitment – a commitment from us to play a leading role in helping consumers understand the fundamentals of credit management and how they can benefit from this growing marketplace reliant upon credit. To do this, we continually invest in processes and products that help consumers throughout their credit journey. Experian has created a long-standing culture of commitment to evolve with the changing marketplace and demands of consumers (and the credit industry). We have a proven track record of continual improvements to our systems over the years, including:

Email marketing continues to be the hub and driving force in cross-channel integration as consumers are becoming more vocal and more demanding with what they expect from their favorite brands. Today, Experian Marketing Services released findings from its email market survey that addresses acquisition and engagement tactics email marketers use in tackling these challenges head-on.

In today’s ultra competitive world, every organization is doing what it can to not only reach new customers, but, some could argue more importantly, to hold on to the ones they already have. In the recently released Loyalty and Market Trends Report by Experian Automotive, we looked at Automotive Loyalty at the brand, model and corporate level to see which auto makers were the most successful at keeping their customers coming back for more. Drum roll please … our analysis found that Ford took the top spot in Brand Loyalty* overall and that the Ford Fusion and the Ford Flex took the top two spots for brand loyalty at the model level during Q3 2012 (surpassing the Q2 2012 model loyalty leader Chevrolet Sonic).

In today’s extremely competitive digital world, business analysts want information when they want it, the way they want it. Nowhere is this more evident than in the financial services sector, where the power of information helps risk and portfolio managers improve strategies and make better business decisions every day. With the introduction of IntelliView, never before have you had this amount of pertinent data at your disposal that can be categorized and evaluated according to specific needs. The tool can help you to optimize strategic planning, uncover new opportunities and improve decision making by having 24-7 online access to Experian’s aggregated quarterly consumer credit data.

Experian, the leading global information services company, today announced that its vice president of public education, Maxine Sweet, was recognized by the National Foundation for Credit Counseling (NFCC) with its Making the Difference Award during the organization’s 47^th Annual Leaders Conference in Charlotte, N.C., which took place Sept. 30–Oct. 3, 2012. Introduced in 2005, the NFCC’s Making the Difference Award honors individuals who have made significant contributions to assisting consumers with financial literacy, awareness and education, furthering the NFCC’s mission, vision and programs through a national presence.

Experian Marketing Services announced the appointment of industry leader Peter DeNunzio as general manager for Experian CheetahMail. DeNunzio assumes responsibility across all CheetahMail offices in the United States and reports to Matt Seeley, president of Experian Marketing Services. With more than 25 years of experience in marketing, branding and direct-to-consumer programs, DeNunzio has a proven track record of anticipating opportunity and delivering results in every organization he has led. “Peter is a recognized leader in our industry, and joins us with an exceptional background in interactive marketing, data and agency services,” said Matt Seeley, president of Experian Marketing Services. “Through his leadership and breadth of experience, Peter brings a strategic vision that is essential as we continue to invest in technology and innovative solutions that help our marquee clients deliver truly coordinated, relevant and response driven marketing programs.”

The auto finance market is always a hot topic for discussion. After all, a vehicle loan is the second largest purchase that most consumers will ever make (the first being a home).