Innovation

We often talk about the balance between customer security and convenience, but rarely do businesses track the impact of identifying customers and managing fraud risks as two sides of the same coin. According to our recent Global Fraud and Identity Report, 84 percent of business believe if they were certain about a customer’s identity, the need for risk mitigation would be reduced. Being able to better identify our customers should be at the crux of all our campaigns. Simply put, the faster and better you recognize your customers, the faster and better you recognize fraud. And we are not alone. We feel the industry agrees with us. Two of the world’s leading research firms, Forrester and Gartner, both recently released reports regarding the state of identity, and we are thrilled to have been recognized in both. The Forrester report, “Top Trends Shaping Identity Verification (IDV) in 2018,” which was authored by analysts Andras Cser and Merrit Maxim, and published in March 2018, discusses the importance of easy-to-use identity verification tools and the top trends shaping identity verification. Experian was cited as the most used vendor for identity verification based on a survey of global network security decision makers. The report also shared an example where a North American bank improved its identity theft detection rate by 15 percent by using Experian’s identity verification services. We were also included in Gartner’s April 2018 Market Guide for Identity Proofing and Corroboration, which helps companies understand the value of identity when it comes to protecting customers and revenue. Experian was one of only three vendors that met all the capabilities criteria recommend by Gartner. The guide, authored by Ant Allan, Jonathan Care, Dorothy Luong and Tricia Phillips, also points out several key findings regarding identity proofing and corroboration. Just recently, Experian was named one of the top 100 most innovative companies in the world by Forbes for the fifth consecutive year, and this is icing on the cake. We are thrilled to be included in these reports and are committed to helping businesses provide a seamless identity verification process with accuracy and simplicity, and one that doesn’t negatively impact the customer journey. Ultimately, investing time and resources to develop the best tools for identity verification goes a long way. Not only will your business leaders feel more confident in your organization’s ability to detect and prevent fraud, it’ll also save your business the time and money that you would spend on eliminating fraud after it happens. All our fraud and identity services are available through our award-winning Experian CrossCore platform, the industry’s first open platform for fraud and identity services. Gartner Disclaimer Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Innovation is at the heart of our business and our culture. It is one of the reasons we’re proud to be named one of the top 100 most innovative companies in the world for the fifth year in a row by Forbes magazine. In the publication's eighth annual list of the "World's Most Innovative Companies," Experian climbed to the rank of 57th and is amongst the top 10 most innovative companies headquartered in Europe. Technology, innovation and new sources of data are fusing to create an unprecedented number of new ways for us to solve pressing business and consumer challenges. This accolade underscores our commitment to innovation, and using the power of data and technology to transform lives, businesses and economies for the better. At Experian, we have created a culture of continuous innovation focused on opportunities for businesses and consumers in today’s digital and data economy. Just a few examples include our involvement with the TechCity FinTech4All competition,  which aims to discover a new generation of innovators and entrepreneurs who will change the future of finance, and our Experian MicroAnalytics work, which has extended over 5 billion credit offers to the world’s unbanked people. Experian has jumped up 40 places in this year’s Forbes ranking, placing us alongside some of the world’s leading technology companies including Tesla, Netflix and Amazon. This accolade demonstrates investors' confidence in Experian’s ability to innovate, both today and in the years ahead, and is a testament to the tireless work of our employees. Even more exciting is that we’re leading our industry in innovation. This is reflected in Experian being the only credit bureau to make the list this year. And innovation experts agree.  According to author Greg Satell, who profiled Experian in his highly touted business book Mapping Innovation: A Playbook for Navigating a Disruptive Age, “Experian is the manifestation of a culture of discovery that enables it to grow and evolve while remaining at the forefront of innovation.” The key to our success going forward is to continue to actively seek out unresolved problems and to create new products and technologies that will helps transform the way businesses operate and consumers thrive in today’s society. Learn more about some of our pioneering innovations here: Connecting Businesses in Brazil Through Data Analytics Experian DataLabs Is Experimenting with a ‘Voice to Credit’ Feature Delivering Value in the Digital Age: Exploring UK Attitudes Towards Data We're on the Brink of a New Era of Innovation FinTech Breakthrough Selects Experian for “Consumer Lending Innovation Award” in 2018 Data on Demand – Unlock New Insights, Create Opportunities Faster than the Speed of Fraud -- CrossCore

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.

I’m the Managing Director of Serasa Experian, meaning I work with Experian’s Business Services Unit to identify how data can unlock new opportunities for businesses across Brazil. I worked in the banking industry for more than twenty years, but joined Experian two years ago because I was excited by the company’s innovative use of data to solve real-world problems. I regularly work with small businesses in Brazil and hear firsthand about the challenges they face. From client conversations and recent data analysis, my team discovered that companies across the country were having difficulty identifying trustworthy suppliers for their supply chain. In fact, a recent Experian survey found that eight percent of suppliers pose risks to their business partners due to labor, tax or environmental problems. Verified background information – such as financial history and risk of default – are surprisingly difficult to find, making it difficult and time-consuming for small businesses to find trustworthy supply chains. We knew there had to be a simpler way to match companies. That’s why we created Serasa Conecta, an online marketplace that connects verified suppliers with verified buyers. Using Seresa Conecta, a buyer of a clothing store, for example, can register a customized page and scroll through the pages of trusted retail suppliers who can partner with their business. Suppliers, on the other hand, can use the portal to identify new customers to help increase sales and build their reputation. On the backend of the marketplace, Experian analyzes each company’s background, and can help determine which companies could forge the best partnerships based on simple reports and balance sheet analyses. Whenever a buyer selects a supplier, Experian also runs a risk assessment of both parties to ensure it’s a good fit. When Serasa Conecta was launched, buyers and suppliers in Brazil were thrilled by the marketplace’s ability to both increase sales and verify safe companies quickly and easily. I take pride in knowing my team and I have made a positive impact on thousands of small businesses in the country. Although I have only been at Experian Serasa for two years, I am excited to see how data can continue to unlock opportunities, connecting communities and improving the lives of companies around the world.  

  My work with the non-profit side of Experian started more than a decade ago, when I was asked to provide some general oversight with a project. I was only meant to play a supporting role, but my passion for the work blossomed immediately. It also seemed fortuitous that my colleagues could jokingly call me “Tammy Non-Proffitt.” Non-profits are dedicated to furthering and advocating for their respective social causes, but they don’t always have the resources they need to drive their message home. Additionally, non-profits sometimes have trouble understanding who their actual donors are due to a lack of data insights. With the limited budgets non-profits have, it would be a shame to waste hard-earned dollars on a campaign that won’t resonate with the right people. Luckily, Experian utilizes data that helps non-profits target the audiences that care about their causes across multiple channels, driving donations that are crucial to the organization’s function, while raising awareness about their cause and furthering their efforts. Recently, I worked with the Raleigh, North Carolina-based non-profit Rise Against Hunger, an international organization that prevents hunger by providing food and aid to people who need it. When Rise Against Hunger was looking to promote several fundraising Facebook campaigns, our data allowed the organization to identify the right audiences for them to target. With this data, Rise Against Hunger can directly target people who are more likely to care – and donate – to their cause. I’ve also had the opportunity to work with The Orangewood Foundation, based in Santa Ana, California, which prepares former and current foster youth to reach their potential and learn about the basic life skills they need to succeed. Like Rise Against Hunger, Orangewood needed help segmenting their own current donor base for different promotions and campaigns, based on age, location and area of interest. Orangewood provides services to more than 1,500 youth every year, so making sure they are targeting the right people for donations is extremely important. Since I began working with Orangewood, I’ve had the chance to visit their campus and charter school, and was simply blown away by the quality of their staff and facilities. Data drives and informs decision-making, helping organizations like the non-profits I work with make smart choices about their communications outreach. In addition, my recent work has not only allowed me to help non-profit clients I care about, but also connected me with other Experian employees, showing how different teams can effectively collaborate to use data for good.  

In October, I had the pleasure of joining many industry leaders and fraud risk professionals from around the world at Experian’s Fusion Summit 2017 held in Scottsdale, Arizona. Our annual Fusion Fraud Summit is a great opportunity to hear from industry leaders on what trends and emerging technology they are currently focusing on. This collaboration with other thought leaders is critical to staying ahead of fraudsters and keeping consumers safe, while providing the best experience possible. In addition to enjoying the sunny Arizona venue, I had the opportunity to network and have candid conversations with attendees and speakers about their fraud challenges and how these challenges affect their businesses. One thing I found striking is that in nearly every conversation, the topics centered on one or more of the following four themes. Security As consumers, we want to feel safe and we want to feel that businesses are doing everything they can to protect us: our payment information, our identity, our credit. Similarly, businesses want to help their customers feel safe, but they also want consumers to know that the data entrusted to them will not fall into nefarious hands. As such, the fraud leaders I spoke with at Fusion are more concerned with security than ever before. But they also know that there is no silver bullet to solve the ever-growing fraud problem. Instead, it’s a multi-layered approach that includes a combination of products and strategies that will recognize identities and assess risk of fraud. Those layers will help to provide the right level of confidence for every transaction. Recognition Being recognized by the people we do business with goes a long way. Whether it’s your coffee shop barista or the front desk clerk at your favorite hotel, being recognized makes us feel appreciated and special. The same applies in today’s digital environment. With the lack of face-to-face interaction online, being recognized when transacting and engaging online is even more important. Customers expect to be recognized and welcomed wherever and whenever they do business. The fraud leaders I spoke with said the same; they want to be as certain as they can about who their customers are. The benefits to this are huge - customers are recognized and welcomed, and it is easier for the business to recognize the fraud. Convenience We all lead busy lives, so it’s handy when we can easily pay bills or make purchases online. But it is not convenient when we’re forced to enter in passwords we may not remember, or get a code from our phone just to prove who we are. Worse yet, purchases could be declined unnecessarily. Now that’s inconvenient. Businesses struggle, especially this time of year, to provide a hassle-free experience for their customers while keeping a handle on increased levels of fraud during the holiday buying season. Most of the executives I spoke with at Fusion would like advanced authentication and security measures that don’t impact customers negatively but provide a better way to establish trust. Trust And in the end, it really comes down to trust. As consumers, why do we prefer to do repeat business with people we know? It is because we trust them. You know them, they know you: recognition helps to stimulate trust. As businesses get to know and recognize their customers, even online customers, they become more confident in evolving the level of conversation and engagement. Trust is at the center of every strong, lasting relationship. And trust is what makes all of us feel safe and protected. While at Fusion, I gave attendees a sneak peek into some of the findings of our upcoming annual Global Fraud Report. Over the last several months, we interviewed 5,500 consumers and more than 550 businesses in 11 markets around the world to hear what concerns and priorities they had. We look forward to sharing lots of great information in the next few weeks and throughout 2018, but for now I can tell you 30 percent of businesses are experiencing more fraud losses over the past 12 months. While these same businesses are eager to introduce new and innovative ways for consumers to open accounts or conduct transactions online, they also are keenly aware that new channels present new challenges. In order to make a difference, we need to work together as an industry to find smarter and more efficient ways to protect both the businesses and the customers they serve. Throughout the coming months, we’ll be sharing the 2018 Global Fraud Report and the findings. I’m sure you’ll find – just as we did – some eye-opening research into how consumers view recognition and trust and what businesses need to do to provide that secure and positive customer experience. For more information about how Experian can help you recognize your customers and better detect fraud, visit: https://www.experian.com/decision-analytics/global/fraud/global-identity-fraud.html

Positive female role models are important if we are to transform some of the preconceptions that the public, and more importantly young girls, have about a career in STEM. To achieve this, it’s important that the effort starts at an early age to breakdown the stereotypes and outdated views that certain professions are gender-specific. At Experian, we are committed to empowering more women to become data scientists. That’s why we were delighted to sponsor the Women in Data conference in November, to help inspire, educate and support women into the data industry. Further to that, we are absolutely thrilled to find out that Experian's data scientist Berenice Pila-Díez was announced as one of the 20 women in data and technology, a project showcasing women forging careers in the traditionally male-dominated fields of data and technology. We hope that Berenice’s story, along with the others, will act as inspiration for the next generation of girls (and boys) to follow in their footsteps and establish a successful career in STEM.

In the United States, many individuals struggle with managing their money. In fact, a recent study by Mintel found that only 19 percent of respondents would rate themselves highly on their financial knowledge. As the Director of Public Education at Experian, this finding, while concerning, is not surprising. Since joining Experian twenty years ago, my team and I have spoken with thousands of consumers across the country about personal finance. From bank presidents to blue-collar workers, the individuals I speak to all want the answer to one question – “how can I plan for my financial future, taking into consideration life’s ups and downs?” The Mintel survey found that 21 percent of Americans today are not at all confident about reaching their financial goals, but my team and I are working every day to change this. We are committed to working with various communities within the U.S. to help them better understand their finances. We provide training for young men and women in the Air Force about how to succeed financially while on active duty and when returning to civilian life as part of a program with the Hero’s at Home organization. In partnership with the Society for Financial Education and Professional Development, we also educate young adults at historically black colleges and universities, answering questions about building credit and managing money. Through the LifeSmarts Competition, we challenge high school students to compete on knowledge of personal finance. And through some of our other programs, we work with low-income women and immigrant populations to promote financial inclusion by helping them establish credit or understand loans. Through these experiences, we’ve met countless inspiring individuals from various backgrounds with compelling success stories. For example, a member of the Air Force once told us that, following one of our sessions, she was able to improve her credit and buy her first home. Stories like this are why I am so proud to be part of the only dedicated financial education team in the industry. I am excited to continue empowering people from all walks of life to reach their financial goals.  Learn more about the Mintel research here.

I’m the head of Serasa Experian’s DataLab, where my colleagues and I focus on using data and artificial intelligence to solve complex challenges for our customers. Our team of data scientists and applied research practitioners use data analytics to create new products and services that address world needs. One successful product is RWA, a platform that analyzes the dynamics of cities to help businesses make informed decisions on their next site location. Occasionally, however, we also discover innovative ways data can solve our own obstacles at Experian. Last year, several departments within Experian were facing similar challenges. We realized the problem could be solved if each group got together to share their perspectives, brainstorm and then collaborate on a common solution. At the end of that project, our teams decided to find more ways to encourage cross-team collaboration within the DataLab network more often. That’s when we decided to launch our first hackathon. Hackathons are events where a large number of people are challenged to participate in collaborative computer programming projects. Various challenges are proposed and the goal is to optimize, reinvent or replace current solutions, providing the participants with the freedom to select their project and team. For our inaugural hackathon, we challenged 80 programmers, designers and project managers to work together for more than 24 hours to create efficient authentication and retention processes to benefit customers. In our second hackathon, we asked participants to create a new Serasa Experian app that would improve relationships with consumers, along with new products that would utilize Experian’s database. The winning app solution ended up using positive registration data to improve personal credit scores for consumers. This app is now in the process of implementation. For our most recent hackathon, held in 2017, we challenged 200 employees and external participants to develop solutions. One of the challenges was to develop solutions to improve the lives of visually disabled individuals. We invited three people with visual disabilities to share their experiences, giving the teams a personal perspective for how a new product could improve their daily lives. For more than 40 hours, the teams worked tirelessly – utilizing data analysis, product design and business planning – to develop their innovative ideas. Although we have only hosted three so far, I hope to continue bringing the culture of the hackathons into our day-to-day activities at Serasa Experian. By collaborating more with coworkers in the past couple of years, I have been inspired by their ability to approach problems in unique ways. I am proud to foster such a collaborative environment and excited to see my coworkers prove a fundamental belief at Experian - hard work can also be fun when you work hard and play hard.