Credit & Risk

Experian can help businesses overcome the barriers on the path to a seamless and digital verification process for mortgage lending.

Underreported income is a significant budget complication that can frustrate even the most effective tax agencies, until the right tools are used.  

Fintechs have been an enormously disruptive force of change in financial services over the past 10 years. From digital payments, lending, insurance, digital banks, to personal finance and many other subsectors in between, fintechs have rapidly transformed everything from business and operating models to customer expectations. It’s this innovative drive that is celebrated and fostered each year at LendIt Fintech - a conference that brings together the fintech and financial services community to connect and reimagine the future of finance. And there may not be another year on record that called for the reimagining of finance more than 2020. Last year, the financial services industry – from consumers, fintechs and other subdivisions across the globe – endured many changes and challenges due to the COVID-19 pandemic. But it also brought accelerated innovations; and with them, increased customer expectations and a focus on financial equity and inclusion. As consumer credit scores and demand for credit continue to rise, fintechs have an opportunity to re-examine what credit looks like in a post-COVID lending environment, and explore opportunities for growth in 2021. Experian’s Chief Product Officer Greg Wright tackled this topic at the recent Lendit Fintech conference, alongside Ibo Dusi of Happy Money, Myles Reaz of Upgrade and the Garry Reeder with the American Fintech Council. Watch the full panel discussion in the video below and hear more about: How panelists define data, alternative data and how it factors in their lending How alternative data can help drive financial inclusion and get to a ‘yes’ more often with consumers Using data to make the consumer experience more frictionless and seamless For more information about how Experian can help fintech organizations of all sizes reach their business and lending goals, visit our fintech solutions page. Explore Experian's Fintech Solutions

In this infographic, we'll dive into the 5 benefits of AI/ML for lenders and financial instutitions.

Partnerships fill a need in the quest for sustainable growth. Here are three key questions to consider when evaluating if a partner is right for you.

In this latest installment of “working with vendors” let’s dive into some best practices for writing RFIs and RFPs.

Digitalization continues to remain a top priority for many organizations in 2021.

For the last several months, Experian has participated as the only credit bureau in the pilot of the SSA's eCBSV service.

Inactive credit card accounts pose challenges to lenders. Discover potential reasons for inactivity and learn how to manage these accounts.

Here are the four steps fintechs should take to reenter the lending market intelligently, while mitigating as much risk as possible.

A high-level review of risk-adjusted yields across three common retail products offered by credit unions show that credit cards can be very profitable.

As financial institutions navigate COVID-19’s economic impact, the best credit portfolio management practices are fundamental.

Last year’s predictions of a new set of Roaring 20’s may not have panned out the way we imagine, but many did evolve. Here are six trends to watch in 2021.

People are more than just their credit scores. Are you getting the full picture? Download our guide to learn more.

New challenges created by the COVID-19 pandemic have made it imperative for utility providers to adapt strategies and processes that preserve positive customer relationships. At the same time, they must ensure proper individualized customer treatment by using industry-specific risk scores and modeled income options at the time of onboarding As part of our ongoing Q&A perspective series, Shawn Rife, Experian’s Director of Risk Scoring, sat down with us to discuss consumer trends and their potential impact on the onboarding process. Q: Several utility providers use credit scoring to identify which customers are required to pay a deposit. How does the credit scoring process work and do traditional credit scores differ from industry-specific scores? The goal for utility providers is to onboard as many consumers as possible without having to obtain security deposits. The use of traditional credit scoring can be key to maximizing consumer opportunities. To that end, credit can be used even for consumers with little or no past-payment history in order to prove their financial ability to take on utility payments. Q: How can the utilities industry use consumer income information to help identify consumers who are eligible for income assistance programs? Typically, income information is used to promote inclusion and maximize onboarding, rather than to decline/exclude consumers. A key use of income data within the utility space is to identify the eligibility for need-based financial aid programs and provide relief to the consumers who need it most. Q: Many utility providers stop the onboarding process and apply a larger deposit when they do not get a “hit” on a certain customer. Is there additional data available to score these “no hit” customers and turn a deposit into an approval? Yes, various additional data sources that can be leveraged to drive first or second chances that would otherwise be unattainable. These sources include, but are not limited to, alternative payment data, full-file public record information and other forms of consumer-permissioned payment data. Q: Have you noticed any employment trends due to the COVID-19 pandemic? How can those be applied at the time of onboarding? According to Experian’s latest State of the Economy Report, the U.S. labor market continues to have a slow recovery amidst the current COVID-19 crisis, with the unemployment rate at 7.9% in September. While the ongoing effects on unemployment are still unknown, there’s a good chance that several job/employment categories will be disproportionately affected long-term, which could have ramifications on employment rates and earnings. To that end, Experian has developed exclusive capabilities to help utility providers identify impacted consumers and target programs aimed at providing financial assistance. Ultimately, the usage of income and employment/unemployment data should increase in the future as it can be highly predictive of a consumer’s ability to pay For more insight on how to enhance your collection processes and capabilities, watch our Experian Symposium Series event on-demand. Watch now Learn more About our Experts: Shawn Rife, Director of Risk Scoring, Experian Consumer Information Services, North America Shawn manages Experian’s credit risk scoring models while empowering clients to maximize the scope and influence of their lending universe. He leads the implementation of alternative credit data within the lending environment, as well as key product implementation initiatives.