Direct mail continues to be one the most effective and credible marketing tools when it comes to customer acquisition and loan growth. In fact, recent data suggests that direct mails response rates are on the rise. Download our latest eBook today to learn more about direct-mail trends, consumer attitudes, and how to use data and insights to tailor your upcoming direct-mail campaigns.
What key regulations have shaped the financial services industry over the past 8 years? From mortgage reform to combating fraud to model risk governance – regulators have certainly had a strong hand in evolving the financial services industry over the past eight years. This paper outlines some of the key initiatives drafted and executed during the Obama administration. It additionally sheds light on what could be on the horizon in 2017 and beyond.
Calling your consumers - even once - means you must also adhere to the regulations established by the Telephone Consumer Protection Act (TCPA). Failure to follow the rules can result in per instance fines as high as $1,500. Our two-page paper outlines the details you must know about TCPA, as well as strategies to set up a compliance process and manage accounts.
As interest rates soften, pent-up demand stands poised to surge once affordability shifts. Given this environment, it’s imperative to reassess your lending strategy to recognize new avenues for growth. We've examined the first-time homebuyer segment to identify credit-qualified prospects and offer insights on potential opportunity areas.
Download our white paper to deepen your understanding of first-time homebuyers and learn best practices for how to successfully identify and engage this audience to help your business drive more sustainable growth.
Learn how our solution can help you establish a more profitable debt collections strategy.
New insights from Cornerstone Advisors dive into the need for financial institutions to leverage automation, expanded data and machine learning in order to be successful amid economic uncertainty.
Learn how a machine learning model development environment can improve model velocity and operational efficiency.
Efficient and effective account review requires convenient, always-on access to fresh customer insights. View our use case to explore the different types of models, scores and attributes that you can access through Ascend Quest to manage risk and retain your best clients.
With consumers seeking better returns on their deposits and banking relationships, financial institutions must refine their growth strategies to remain competitive. Read our e-book to learn how you can boost deposits, strengthen existing relationships and provide seamless and secure digital experiences.
Learn how optimized debt management and recovery strategies can help you get ahead of a potential uptick in collections activity.
In this report, we will debunk a few common BNPL myths and uncover the various ways in which transparency of BNPL data and benefit consumers and drive financial inclusion.
Learn about the current AI decisioning landscape and its implications on the future of lending.
Learn how a digital debt recovery solution can help streamline collection processes and enhance customer satisfaction.
Discover how custom attributes and models can help you stay ahead of your competitors, make more informed credit decisions across the entire lending lifecycle and open the door for growth, reduced risk and improved loyalty.
Consumer expectations for their identity interactions are at an all-time high, and to win their trust and loyalty, organizations have to provide personalized, seamless, and secure experiences. Discover how personalizing identities builds trust and helps organizations recognize, serve and protect consumers and businesses in an ever-changing world.
Credit plays a vital role in the lives of consumers. Unfortunately, not every creditworthy individual has equal access to financial services. Download our white paper to discover the current state of access to consumer credit and key opportunities and challenges for lenders to address in expanding financial inclusion.
It’s clear that digital onboarding is now table stakes, but the journey doesn’t stop there. Organizations that neglect the experience of returning consumers will miss out on opportunities to provide a better, more seamless experience — necessary to keep good customers happy and maintain cross-sell and upsell opportunities. Our latest white paper explores how a digital-first onboarding strategy can have positive ramifications on the entirety of the customer journey.
Customer satisfaction has always been a priority — and it’s more critical today than ever before. As technology continues to transform how we do business; companies are leveraging automation to optimize the customer experience and reduce operational risk. Download our white paper to discover how you can streamline your capabilities.
In this white paper, Experian data scientists and analysts take a deep look and analyze trends for one of the most popular lending products in the industry: the unsecured personal loan. Read insider expertise on the state of the digital lending environment in the U.S., understand consumers demographics of the typical digital borrower and stay ahead of constantly changing market conditions.
The health crisis brought unprecedent challenges to the US rental industry and housing market. The pandemic exacerbated legacy business problems while at the same time creating new hurdles for consumers, landlords and property management companies alike. But by leveraging the latest data and tools available, rental professionals could absolutely see growth in their portfolios in 2021.
In this eBook you’ll learn:
• Top metrics driving the housing market in 2021
• How to reduce risk and prevent fraud while improving the customer experience
• Key strategies you can deploy today to mitigate risk and promote growth
In the K-shaped recovery since the COVID-19 recession, there are very different stories for consumers dependent on their trajectory. Some consumers are thriving while others need more support than ever – and both are in your portfolio today.
Download our new white paper to learn how to forge ahead in the K-shaped recovery with critical strategies to help differentiate your service to customers depending on their unique needs.
Fintechs have and are disrupting the business of banking. It no longer just revolves around taking deposits, making loans and facilitating payments. While some fintechs are specializing in just one aspect, many continue to expand their service offerings, constantly asking the question, “what other customer experience can we revolutionize?” If this sounds like your fintech, you must first ask yourself, do we need to operate like a bank in order to meet our goals?
Learn how regulatory decisions may impact fintechs in 2021, the pros and cons of bank-fintech partnerships and the different types of bank charters and their advantages in this eBook.
The fintech industry is maturing and is itself entering into a rapid period of change, an evolution that was accelerated by the global financial crisis brought on by COVID-19. While the pandemic has created uncertainty, and for some an inability to conduct or generate business, a silver lining of COVID-19 might just be that it’s driving digital innovation across industries.
Learn more about the transformation of lending trends post-pandemic in this white paper.
For many companies, the greatest opportunities for growth lie in increased digitalization and new technology that enable organizations to accelerate their digital transformation.
Download our new white paper to get a closer look at five ongoing technology trends that are likely to advance throughout the year.
As the global health crisis nears its one-year anniversary, it’s clear it has caused a paradigm shift in the way we work, live and think. The pandemic also encouraged an acceleration of innovation and transformation across the mortgage industry while mortgage lenders navigated through one of the most unique lending environments of our time.
As we look ahead in 2021, it’s important to assess trends and strategies for mortgage transformation. Our complimentary eBook explores the answers to these questions:
What were the key trends that shaped mortgage in 2020?
What are the main hurdles lenders face in modernizing the mortgage process?
What should lenders focus on to accelerate their path towards the modern mortgage?
Surviving and thriving in a post-pandemic world will require thoughtful portfolio management now, facilitated by updated scenarios, better data and prioritization by way of criteria attributes and risk scores.
The COVID-19 economic crisis has drawn comparisons to the Great Recession a decade ago. However, while there are similarities in terms of high levels of unemployment and significant declines of economic growth, there remain substantial differences. In this white paper, we explore how banks and households have weathered the pandemic and what to watch for in 2021.
Mastering data quality are you ready for governance? Beyond data quality metrics, is your data credible? This is the next line of questioning that may come your way from regulators and other external parties charged with testing and sampling your data. We can help you stay ahead of potential upcoming regulations. To learn how we can help you take a proactive approach to data accuracy and dispute resolutions, complete the form to download our perspective paper.
Explore the world of alternative credit data in our 2020 State of Alternative Credit Data white paper. Discover the latest consumer and lending insights, the regulatory landscape and how alternative credit data is being used across the lending marketplace to reduce financial volatility and mitigate risk.
The COVID-19 pandemic has created unprecedented challenges for the collections industry, including new regulatory rules, changing consumer demands and a potential uptick in activity as forbearances and deferments fall off. Will your current collections and recovery processes be enough to keep up?
Rising customer expectations, advancements in AI and machine learning and generational shifts are paving the way for banks and credit companies to see a complete transformation. But what does this transformation look like?
Download our eBook and get Experian’s perspective on the future of banking and credit cards.
The collections industry has undergone major transformations over the past decade.
In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), producing the most reform to financial regulation since the Great Depression and authorizing the creation of the Consumer Financial Protection Bureau (CFPB), a regulatory agency charged with overseeing financial products and services offered to consumers.
The collections landscape has since continued to evolve, with consumers beginning to make a dramatic shift in how they interact with their financial service providers, moving away from phone and mail, and communicating online instead. Debt collection departments and agencies, large and small, have adopted new technologies to ensure that they comply with consumer demands and changing regulations. But challenges remain in the fast-moving regulatory landscape.
Clarity Services, a part of Experian, provides valuable alternative credit data to alternative financial service providers. Clarity’s alternative data gives lenders a more complete picture of nonprime applicants, so they can make better and more informed decisions.
We analyzed the trends and financial behavior of nonprime consumers by looking at application and loan data in Clarity’s specialty credit bureau from 2014 through 2018. A study sample of more than 350 million consumer loan applications and more than 25 million loans was created and leveraged to evaluate market trends during this period. Data from Experian’s national credit bureau was also used to help profile consumers.
Download our latest white paper to learn more.
There is growing digital demand for today’s tech-savvy consumers. More consumers, particularly millennials, own smartphones than ever before and they’re actively using them to access mobile banking apps and services. To stay ahead, banks need to meet basic expectations and start using the unique features of the mobile platform to acquire new customers and deepen wallet share.
Download the perspective to learn more.
Lenders need to target and retain the most lucrative consumers to expand their portfolios. Balance transfers represent a critically important revenue lever in the market. By understanding the drivers behind transfers and improving response rates through propensity modeling, you can develop a strategy to target and retain optimal balance-transfer candidates – those who will deliver returns with minimal risk.
Download the perspective paper to learn more.
Empowered consumers know that their credit health is more than just a score. Providing access to a consumer's credit score is a great first step. But an even greater opportunity for consumer engagement lies in the ability to provide access to the core factors affecting their credit. Help them learn what that score means with credible, detailed, rich educational content to help them make better financial decisions.
Reasonable effort should be made to report consumer credit data. The data ecosystem depends on this free flow of information, but ultimately, the consumers depend on the data furnishers and NCRAs to appropriately record and maintain their complete credit performance. With an expert team and a data accuracy rate of 99.9%. Experian is a credible and quality data source.
Download the perspective to learn more.
A single point in time or “snapshot,” of a consumer’s risk profile is insufficient to make credit decisions. “Trended” consumer views provide the information required to redefine static lending approaches and create a breakthrough strategy that will deliver profit. By leveraging trended data, lenders can quantify and characterize consumer behavior, which provides robust views of the consumer that can drive new and innovative strategies.
Download the perspective to learn more.
In our webinar, Revolutionizing Lending in Today's Digital World, industry experts teach lenders how to bring financial data aggregation into the mainstream. In this FAQ we're diving deeper into the most common questions we’ve received. From how the solutions work, to providing further insight into the data and coverage to security, learn more about how our digital verification solutions enhance the lending experience.
Data furnishers are facing ever-increasing regulations when it comes to reporting consumer credit histories to the credit bureaus. Read our latest FAQ for answers to your top data reporting questions.
Home equity lines of credit (HELOCs) continue to be a popular lending product. While much emphasis is placed on origination, it is critical for banks and credit unions to additionally manage this product throughout the consumer lifecycle. Access this one-page checklist to discover six best practices for lenders to consider as they manage and optimize their HELOC portfolios.
While the mortgage meltdown tied to the Great Recession has passed, the peak of loans originating during that downturn continues to be monitored and assessed. Home equity lending was especially popular during the housing boom, and as the end-of-draw period trails, there is a great interest in consumer behaviors and repayment tied to these loans. This Experian analysis explores the spike in end of draw, as well as trends attached to originations and delinquencies.
Learn new strategies and modern techniques to maximize auto loan growth. The busy auto sales season offers a prime opportunity for credit unions to grow auto share. Read the latest CU Insights article and hear from leading expert Scott Butterfield.
Are you aware of the latest enhancements to the Military Lending Act? The Department of Defense passed a Final Rule in July 2015, and all lenders must get compliant by October 2016. Read our free paper on the actions you must take to get compliant and avoid costly fines.
Learn how Servicemembers Civil Relief Act (SCRA) protects servicemembers and the compliance solutions available to lenders.
Many credit marketing leaders are actively evaluating and finding viable consumer populations within the near-prime consumer population today.
Download our latest white paper, Expanding the Marketable Universe, filled with valuable data and analysis that will help you identify strategies for acquiring new accounts in lower-scoring segments.
The Federal Communications Commission (FCC) recently provided additional clarity around the regulations you need to follow to stay compliant with the Telephone Consumer Protection Act (TCPA). Download our checklist to see how your business measures up and identify gaps in your right-party contact call strategy.
Experian research shows Millennials currently hold only 5% of their accounts with credit unions. Why? This paper explores Millennial trends in the financial services space, and advises how credit unions can adapt to serve this coming-of-age market,
Experian's Income Insight helps you give line increases to consumers who have the greatest ability to pay.
Today's consumer is well versed in understanding tools such as credit scoring and data reporting. Now more than ever, they are looking for a fair and accurate representation of their financial history. Data furnishers need to be at the forefront of understanding their reporting and management options. Learn how to improve the customer experience by being proactive and prepared with complete consumer data reporting.
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To find the latest version of this perspective paper, please click this link: Perspective paper: The power of data integrity and quality.
Financial institutions have invested in Big Data for many years, and new advances in technology infrastructure have opened the door for leveraging data in ways that can make an even greater impact upon your business.
Big Data is not just about increased data and storage. It is about finding opportunity in your existing data sources and scaling for the future.
Consumers can often be excluded from building or establishing their credit based on traditional payment data history. As the credit industry continues to evolve, financial institutions seek methods to help their customers gain access into the financial mainstream. Learn more about how alternative payment data, such as positive energy-utility reporting can help your customers gain access to the financial services they need.
Deepen relationships with your customers and enhance loyalty by anticipating their financial services needs. Discover the best ways to increase monetization in the mobile banking channel. And, learn how to target and connect with qualified customers and prospects, offering in-the-moment credit offers.
As the playing field is stabilizing for the credit card industry, lenders are in a position now more than ever to grow their profits. Consumers are motivated to manage their cash flows, and improve their credit health; and they are transferring card balances, seeking the best rates. Learn how to attract the right audience, segment the surfers and deleveragers, and build customer loyalty.
This white paper demonstrates that a different way of understanding consumer behavior is the key to creating the necessary strategies to create a profitable portfolio. It will show that considering only a current view of consumer credit does not provide the necessary and precise knowledge about how to market to or underwrite that consumer. You will discover that a "trended" view of the consumer will provide the information required to redefine static lending approaches and to create the breakthrough strategy that will deliver profit.
The US is the leading provider of affordable, fair, wider and more portable access to credit. But the American consumer has little appetite for mistakes when it comes to the accuracy of credit data. We believe that the next generation of lenders will compete on dispute response rates and accuracy of reporting. Download this complementary paper for a fresh perspective on how to take a proactive approach to: -Providing customers with an optimal experience -Correcting inaccurate data -Preparing for regulatory review -Understanding reporting practices as benchmarked to peers
As the economy gains strength, lenders are engaging in an increasingly fierce competition to entice the best candidates to their portfolios and to grow their lending business.
Lenders must look even more frequently and much more closely at their loan portfolio and “dig in” to consumers’ behavior to set short-term portfolio management strategies.
The economy’s recovery from the Great Recession may have started slowly, but it is accelerating – and it’s genuine. Economic indicators tell the story of improving business prospects. For credit issuers, the message is real, too. Now’s the time to look with fresh eyes at your post recession lending strategies. It’s time to rethink your approach to growth in this market and reassess the profile of the consumer prospect in relation to profitability and market share gains.
Credit marketing experts who evaluate the right data assets to supplement targeting efforts will emerge quickly over the next 18 months as leaders in portfolio growth. The key is getting the right product to the right consumer at the most appropriate time.
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