It’s no secret how much the consumer world has evolved in large part due to technology over the last few years. More than 88 million U.S. consumers use their smartphone to do some form of banking today and 67% of consumers made purchases across multiple channels in the last six months. Banks, lenders, and the entire financial services industry have responded to that change.
So has Experian. Our credit data is a powerful asset that financial institutions can use to power opportunities for consumers. Through improved technology, we can deliver those insights faster. It’s why we integrated the Cloudera Enterprise platform with our Analytical Sandbox™ environment so we can help facilitate solving common industry issues quicker for clients across our Credit Information Services, Decision Analytics, and Business Information Services business lines.
That environment allows financial institutions with data scientists to build models that can crunch huge volumes of data to append with their own customer data to help drive portfolio management, customer acquisitions, and collection decisions. This kind of agility and speed in data analytics is especially important as financial institutions drive more and more of their customer relationships to digital and mobile channels.
We continue to be the backbone of financial progress and empower our clients to manage their data with confidence so they can maximize every opportunity.