Market volatility, evolving regulations, and shifting consumer expectations are a catalyst to make energy providers to rethink how they operate. Rising energy costs, grid reliability concerns, and the push for sustainable energy sources add layers of complexity to an already challenging landscape. In this environment, data analytics in utilities has become a strategic imperative, enabling companies to optimize operations, mitigate risks, and enhance customer experiences. With a wealth of data at their disposal, utilities must harness the power of utility analytics to transform raw information into actionable intelligence. This is where Experian’s energy and utilities solutions come into play. With an unmatched data reach of more than 1.5 billion consumers and 201 million businesses, we are uniquely positioned to help energy and utility providers unlock greater potential within their organizations, whether that’s by boosting customer engagement, preventing fraud and verifying identities, or optimizing collections. Market Challenges Facing the Utilities Sector Utilities today face a series of economic, regulatory, and operational hurdles that demand innovative solutions. Regulatory and Compliance Pressures: Governments and regulatory bodies are tightening rules around emissions, sustainability, and grid reliability. Utilities must balance compliance with the need for cost efficiency. New carbon reduction mandates and reporting requirements force energy providers to adopt predictive modeling solutions that assess future demand and optimize energy distribution. Economic Uncertainty and Rising Costs: Inflation, fuel price fluctuations, and supply chain disruptions are impacting the cost of delivering energy. Utilities must find ways to improve financial forecasting and reduce inefficiencies—tasks well suited for advanced analytics solutions that optimize asset management and detect cost-saving opportunities. Grid Modernization and Infrastructure Investments: Aging infrastructure and increased energy demand require significant investments in modernization. Data-driven insights help utilities prioritize infrastructure upgrades, preventing costly failures and ensuring reliability. Predictive analytics models play a crucial role in identifying patterns that signal potential grid failures before they occur. Customer Expectations and Energy Transition: Consumers are more engaged than ever, demanding personalized service, real-time billing insights, and renewable energy options. Utilities must leverage advanced analytics to segment customer data, predict energy usage, and offer tailored solutions that align with shifting consumer preferences. Rising Fraud: Account takeover fraud, a form of identity theft where cybercriminals obtain credentials to online accounts, is on the rise in the utility sector. Pacific Gas and Electric Company reported over 26,000 reports of scam attempts in 2024 and has received over 1,700 reports of attempted scams in January 2025 alone. Utility and energy providers must leverage advanced fraud detection and identity verification tools to protect their customers and also their business. How Data Analytics Is Transforming the Utilities Industry Optimizing Revenue and Reducing Fraud Fraud and revenue leakage remain significant challenges. Utilities can use data and modeling to detect anomalies in energy usage, identify fraudulent accounts, and minimize losses. Experian’s predictive modeling solutions enable proactive fraud detection, ensuring financial stability for providers. Enhancing Demand Forecasting and Load Balancing With renewable energy sources fluctuating daily, accurate demand forecasting is critical. By leveraging utility analytics, providers can predict peak demand periods, optimize energy distribution, and reduce waste. Improving Credit Risk and Payment Management Economic uncertainty increases the risk of late or unpaid bills. Experian’s energy and utilities solutions help providers assess creditworthiness and develop more flexible payment plans, reducing bad debt while improving customer satisfaction. Why Experian? The Power of Data-Driven Decision Making Only Experian delivers a comprehensive suite of advanced analytics solutions that help utilities make smarter, faster, and more informed decisions. With more than 25 years of experience in the energy and utility industry, we are your partner of choice. Our predictive analytics models provide real-time risk assessment, fraud detection, and customer insights, ensuring utilities can confidently navigate today’s economic and regulatory challenges. In an industry defined by complexity and change, utilities that fail to leverage data analytics in utilities risk falling behind. From optimizing operations to enhancing customer engagement, the power of utility analytics is undeniable. Now is the time to act. Explore how Experian’s energy and utilities solutions can help your organization harness the power of advanced analytics to navigate market challenges and drive long-term success. Learn more Partner with our team

Quick Summary: Leasing continues to increase in the electric vehicle (EV) market. EVs accounted for nearly 20% of all new vehicle leases in Q4 2024, up from only 2.11% of new vehicle leases four years ago in Q4 2020. With consumers looking for flexibility—both in monthly payment and model availability—we’re seeing leasing continue to surge in the electric vehicle (EV) market. According to Experian’s State of the Automotive Finance Market Report: Q4 2024, EVs accounted for 19.5% of all new vehicle leases this quarter, up from 11.7% last year and a substantial increase from 2.1% in Q4 2020. Diving a bit deeper, data found EVs accounted for 9.3% of all new purchases in Q4 2024. Of those EVs, 50.1% were leased, while 38.9% were financed through loans. With lease payments for EVs ultimately being more affordable compared to loans and the excitement of driving the latest models packed with advanced technology, it’s no surprise we’re seeing leasing grow in popularity. Top leased EVs: How do lease and loan payments compare? As more consumers transition to EVs and manufacturers introduce new options to their lineup, certain models have become top choices for those opting to lease. Tesla accounted for the top two leased EVs in Q4 2024, with Tesla Model 3 coming in at 12.2% and Tesla Model Y at 9.1%. However, the Honda Prologue followed closely at 8.8% this quarter. Rounding out the top five were Hyundai IONIQ 5 (6.9%) and Chevrolet Equinox EV (5.9%). It’s notable that leasing has traditionally been a value-driven option for consumers, and the same holds true in the EV market. Leasing continues to offer lower monthly payments, making the finance option stand out for those looking to test an EV before purchasing or simply wanting the latest model on the lot. In Q4 2024, the average payment difference between a loan and a lease was $175. Though, the average monthly payment to lease a non-luxury EV was $504 this quarter, noting a $205 difference compared to the $709 loan payment. By comparison, the average monthly payment between a loan and leased luxury EV was $98—coming in at $842 for a lease and $940 for a loan. As more consumers choose to lease EVs, automotive professionals in both new and used markets have a chance to capitalize on this trend. By leveraging this data, those in the new retail market can effectively reach the right audience, while those in the used market can stay ahead of the curve and prepare for the influx of off-lease models in the coming years. To learn more about automotive finance trends, view the full State of the Automotive Finance Market: Q4 2024 presentation on demand.

In today's fast-paced and stressful world, financial wellness has become a critical aspect of overall well-being. For employees, financial stress can be a significant burden, affecting not only their personal lives but also their professional performance. For employers, the benefits of supporting your employees’ financial wellness are particularly compelling. By providing tools and resources to financially empower your workforce, you can create a more engaged, motivated, and stable team, ultimately driving organizational success.Learn more about employee benefits from Experian Why employee financial wellness matters Employees don’t leave financial stress at home when they head to work. In fact, employees may spend over 8 hours a week at work worrying about their personal finances1. Financial wellness for employees is essential because a financially stressed workforce can be costly to your organization.  A few negative consequences of a financially stressed workforce are: Higher healthcare costs: Financial stress can contribute to physical and mental health problems, increasing healthcare costs for both employees and employers. Employees report that financial stress has had a negative impact on their sleep, mental health, and physical health2. This chronic stress can lead to serious health conditions, resulting in higher medical expenses.  Decreased productivity: Financial stress can lead to distractions and difficulty concentrating at work, resulting in lower productivity and efficiency.  When employees are preoccupied with financial worries, they are less able to focus on their tasks, leading to decreased output and potentially impacting the overall performance of the organization. Increased absenteeism: Employees experiencing financial stress are more likely to take time off due to stress-related health issues, leading to higher absenteeism rates. This not only disrupts workflow but also places additional strain on other team members who must cover for absent colleagues. Lower morale and engagement: Financially stressed employees often feel less motivated and engaged, which can negatively impact team dynamics and overall workplace morale1. When employees are worried about their finances, they may become disengaged and less enthusiastic about their work. This lack of engagement can spread to other team members, creating a less positive and collaborative work environment. Prioritizing financial wellness for employees can help alleviate these concerns, ensuring they remain engaged and committed to their roles. Increased turnover: Employees under financial stress may seek higher-paying jobs or positions with better benefits, leading to higher turnover rates and increased costs associated with hiring and training new staff3. Additionally, frequent turnover can negatively impact team cohesion and morale. Financial wellness programs benefit employees and employers Employee financial wellness programs can help employees manage stress caused by financial uncertainty4. Offering your employees tools for financial success, such as financial management tools and identity theft protection, can provide numerous benefits, including: Enhanced productivity and focus: Financial stress can impact an employee's ability to concentrate and perform effectively at work. By supporting financial wellness for employees, you can help reduce this stress, leading to improved productivity and focus. Improved employee engagement and loyalty: Employees who feel supported in their financial wellbeing are more likely to be satisfied with their jobs and remain loyal to their employer2. This can result in lower turnover rates and reduced costs associated with hiring and training new staff. Better financial decision-making: Employees who are equipped with financial management tools are more likely to make sound financial decisions, both personally and professionally. This can reduce the risk of financial mismanagement and contribute to overall stability and success. Attraction of top talent: Offering comprehensive financial wellness programs can provide differentiation in a competitive job market and enhance your brand as an employer. This can make you more attractive to potential employees, helping to attract and retain top talent. How Experian Partner Solutions can help  Providing peace of mind and financial support to your employees can help both your bottom line and company culture. We offer a range of tools and resources to help you implement effective employee financial wellness programs. A few key ways we can help you support your workforce include: Financial management tools: Experian offers various tools for budgeting, saving, and financial planning. These tools empower employees to manage their finances effectively and achieve their financial goals. Comprehensive financial and credit literacy: Experian provides educational resources on budgeting, saving, investing, and credit management. These resources help employees improve their financial knowledge and make informed decisions. Identity theft protection and restoration: Experian offers services to protect employees from identity theft and assist in restoring their identity if it is compromised. This can provide peace of mind and reduce stress related to security of their financial identity. Credit monitoring and alerts: Employees can benefit from tools that monitor their credit status and provide alerts for any significant changes. This proactive approach helps employees stay on top of their financial health and address issues promptly. Device and data protection: We offer proactive digital privacy tools to help protect passwords and personal information while your employees are browsing the internet. This includes blocking unsafe websites and ads, and protecting employees’ identity in the case of a data breach. Investing in employee financial wellness programs is not just a compassionate choice, it's a strategic one. By addressing the financial stress of your workforce, you can help enhance productivity, reduce absenteeism, foster a more engaged and loyal team, and attract top talent. We provide the tools and resources needed to implement effective financial wellness programs, helping you support your employees' financial health and, in turn, drive organizational success. Prioritizing financial wellness for employees is a win-win for both employees and employers, paving the way for a healthier, more productive, and resilient workforce. [1] SoFi, The future of workplace financial well-being: 2024 employer & employee perspectives, 2024 [2] WebMD Health Services, Financial stress in the workplace: How to help employees cope, May 2023 [3] Wellhub. (n.d.). Employee financial wellness programs: The ultimate guide for HR leaders, February 2025 [4] Paychex. (December 2023). How employee financial wellness program benefits small business. This article includes content created by an AI language model and is intended to provide general information. 

Fraud rings cause an estimated $5 trillion in financial damages every year, making them one of the most dangerous threats facing today’s businesses. They’re organized, sophisticated and only growing more powerful with the advent of Generative AI (GenAI). Armed with advanced tools and an array of tried-and-true attack strategies, fraud rings have perfected the art of flying under the radar and circumventing traditional fraud detection tools. Their ability to adapt and innovate means they can identify and exploit vulnerabilities in businesses' fraud stacks; if you don’t know how fraud rings work and the right signs to look for, you may not be able to catch a fraud ring attack until it’s too late. What is a fraud ring? A fraud ring is an organized group of cybercriminals who collaborate to execute large-scale, coordinated attacks on one or more targets. These highly sophisticated groups leverage advanced techniques and technologies to breach fraud defenses and exploit vulnerabilities. In the past, they were primarily humans working scripts at scale; but with GenAI they’re increasingly mobilizing highly sophisticated bots as part of (or the entirety of) the attack. Fraud ring attacks are rarely isolated incidents. Typically, these groups will target the same victim multiple times, leveraging insights gained from previous attack attempts to refine and enhance their strategies. This iterative approach enables them to adapt to new controls and increase their impact with each subsequent attack. The impacts of fraud ring attacks far exceed those of an individual fraudster, incurring significant financial losses, interrupting operations and compromising sensitive data. Understanding the keys to spotting fraud rings is crucial for crafting effective defenses to stop them. Uncovering fraud rings There’s no single tell-tale sign of a fraud ring. These groups are too agile and adaptive to be defined by one trait. However, all fraud rings — whether it be an identity fraud ring, coordinated scam effort, or large-scale ATO fraud scheme — share common traits that produce warning signs of imminent attacks. First and foremost, fraud rings are focused on efficiency. They work quickly, aiming to cause as much damage as possible. If the fraud ring’s goal is to open fraudulent accounts, you won’t see a fraud ring member taking their time to input stolen data on an application; instead, they’ll likely copy and paste data from a spreadsheet or rely on fraud bots to execute the task. Typically, the larger the fraud ring attack, the more complex it is. The biggest fraud rings leverage a variety of tools and strategies to keep fraud teams on their heels and bypass traditional fraud defenses. Fraud rings often test strategies before launching a full-scale attack. This can look like a small “probe” preceding a larger attack, or a mass drop-off after fraudsters have gathered the information they needed from their testing phase. Fraud ring detection with behavioral analytics Behavioral analytics in fraud detection uncovers third-party fraud, from large-scale fraud ring operations and sophisticated bot attacks to individualized scams. By analyzing user behavior, organizations can effectively detect and mitigate these threats. With behavioral analytics, businesses have a new layer of fraud ring detection that doesn’t exist elsewhere in their fraud stack. At a crowd level, behavioral analytics reveals spikes in risky behavior, including fraud ring testing probes, that may indicate a forthcoming fraud ring attack, but would typically be hidden by sheer volume or disregarded as normal traffic. Behavioral analytics also identifies the high-efficiency techniques that fraud rings use, including copy/paste or “chunking” behaviors, or the use of advanced fraud bots designed to mimic human behavior. Learn more about our behavioral analytics solutions and their fraud ring detection capabilities. Learn more

Fraud never sleeps, and neither do the experts working to stop it. That’s why we’re thrilled to introduce Meet the Maker, our new video series spotlighting the brilliant minds behind Experian’s cutting-edge fraud solutions. In our first episode, Matt Ehrlich, Senior Director of Identity and Fraud Product Management, and Andrea Nighswander, Senior Director of Global Solution Strategy, share how they use data, advanced analytics, and deep industry expertise to stay ahead of fraudsters. With 35+ years of combined experience, these fraud-fighting veterans know exactly what it takes to keep bad actors at bay. Watch now for an exclusive look at the minds shaping the future of fraud prevention.    Stay tuned for more episodes featuring the visionaries driving fraud innovation.

The days of managing credit risk, fraud prevention, and compliance in silos are over. As fraud threats evolve, regulatory scrutiny increases, and economic uncertainty persists, businesses need a more unified risk strategy to stay ahead. Our latest e-book, Navigating the intersection of credit, fraud, and compliance, explores why 94% of forward-looking companies expect credit, fraud, and compliance to converge within the next three years — and what that means for your business.1 Key insights include: The line between fraud and credit risk is blurring. Many organizations classify first-party fraud losses as credit losses, distorting the true risk picture. Fear of fraud is costing businesses growth. 68% of organizations say they’re denying too many good customers due to fraud concerns. A unified approach is the future. Integrating risk decisioning across credit, fraud, and compliance leads to stronger fraud detection, smarter credit risk assessments, and improved compliance. Read the full e-book to explore how an integrated risk approach can protect your business and fuel growth. Download e-book 1Research conducted by InsightAvenue on behalf of Experian

In the latest episode of “The Chrisman Commentary” podcast, Experian experts Joy Mina, Director of Product Commercialization, and David Fay, Solution Consultant, talk about reducing mortgage pipeline fallout and improving loan pull-through rate. Listen to the full episode for all the details and check out the previous episode to explore how lenders can navigate a tight mortgage market, from rates to equity. Listen to podcast

In today's fast-paced world, the ability to locate individuals quickly and accurately is crucial for debt collectors and lenders. Leading skip tracing software is differentiated by data accuracy and data source expansion that delivers increased right-party contact (RPC) rates, better cost efficiency, and improved user experience. The need for improved skip tracing The landscape of skip tracing has changed dramatically in recent years. Call blocking and mislabeling have led to a decline in RPC rates, while increased scam activity has caused many consumers to ignore calls and texts. Additionally, the sheer volume of new information available makes efficiently organizing and delivering helpful results a higher priority than simply gathering data. Here are a few quick stats: Email addresses go stale at a rate of 3% each month There are 820 million changes across all contact databases every 90 days Human errors lead to 50% of data issues, such as a typo that results in a bounced email[1] As a result, we’ve made significant improvements to our skip tracing solution, TrueTrace™. What is TrueTrace? TrueTrace, a powerful skip tracing solution, is a go-to resource for both small and enterprise collectors. For locating hard-to-find individuals, TrueTrace is now even more effective, leveraging advanced technology and more data to enhance its performance. Some organizations that tested TrueTrace saw a 10% lift in RPC rates compared to the competition.[2] Here’s a look at some of the improvements we’ve made: Enhanced data accuracy: TrueTrace now runs on an identity graph to tie data from disparate sources to a unique persistent ID for each consumer. This upgrade improves data matching and accuracy, ensuring that users can rely on the information provided. Expanded data sources: The new version of TrueTrace incorporates email appending, making it a convenient all-in-one solution. By including new and unique data sources, TrueTrace increases hit rates and provides more quality results. With these improvements, here are some potential benefits to your business: Increased RPC rates: Improved data quality and accuracy lead to higher RPC rates, making it easier for collectors to reach the right individuals. Cost efficiency: Reducing operational costs associated with wrong-party contacts and outdated information helps businesses save money and improve their bottom line. Improved user experience: Easier access to accurate data leads to more efficient operations and a better overall user experience. Using an identity graph to organize data points Identity graphs allow organizations to build customer profiles based on a combination of data points. Companies can also use cloud-based services to implement additional, larger sets of data. Within an outreach strategy, skip tracing tools can use identity graphs to associate names, phone numbers, email address, physical address, and assets from multiple, unrelated databases into a single source of accurate information. This can help organizations save time and increase efficiency. Upgrades to skip tracing help businesses enhance efficiency The latest enhancements to TrueTrace represent a significant advancement in skip tracing technology. With upgraded data accuracy, expanded data sources, real-time updates, and flexible integration, TrueTrace offers a comprehensive solution for businesses looking to improve their outreach strategy. This tool can help businesses achieve higher RPC rates, reduce costs, and enhance their overall operational efficiency. To learn more about TrueTrace and its new features, read our latest whitepaper or visit our website or contact us for further inquiries. Discover how TrueTrace can help your business achieve better skip tracing with higher quality results today. Read the whitepaper Visit our website [1] Experian (2023). Revolutionizing your email strategy. [2] Experian TrueTrace data

As consumer credit behaviors change, staying informed is crucial for credit unions. Experian’s new State of Credit Unions Report offers a comprehensive analysis of consumer credit trends from January 2022 to October 2024, with a particular focus on auto loans, unsecured personal loans and unsecured credit cards. The report covers: Trends in originations and delinquencies among credit union members How credit unions fare against other fintech lenders and regional banks Strategies to attract new members and mitigate portfolio risk Discover key insights into the consumer credit landscape and how credit unions stack up against other financial institutions. Download the report

In today's fast-paced financial landscape, demand deposit accounts (DDAs) have become a cornerstone for both consumers and financial institutions. These accounts, which include checking, savings, and money market accounts, offer the flexibility of accessing funds on demand without prior notice. As the financial industry evolves, the demand for consumer DDAs continues to grow, driven by the need for convenient and accessible banking solutions. Why DDAs are critical for financial institutions As a financial institution, consumer DDAs are crucial for you for several reasons: Customer Acquisition and Retention: DDAs can serve as the first point of contact between customers and financial institutions. By offering attractive DDA options, you can attract new customers and retain existing ones, fostering long-term relationships. Revenue Streams: DDAs generate revenue through various channels like interest on account balances, and also provide opportunities for cross-selling other financial products and services, enhancing overall profitability. Data Insights: DDAs offer valuable insights into customer behavior and spending patterns. Financial institutions can leverage this data to tailor their products and services, improve customer satisfaction, and develop targeted marketing strategies. Liquidity Management: DDAs help you manage liquidity by providing a stable source of low-cost funds. The deposits in these accounts can be used to support lending activities and other financial operations, ensuring your financial stability. These points highlight the strategic importance of consumer DDAs in the overall business model of financial institutions, making them a critical component for success. Attracting and retaining Gen Z and millennial customers Gen Z and Millennials are more likely to change financial institutions frequently. Capturing this audience is essential, as Gen Z will likely be the largest and wealthiest generation in the future. Members of this generation value digital capabilities, personalized experiences, and flexibility, often switching banks to find better services and offers. Over 40% of Gen Z switched financial institutions between 2023-2024 1. A few strategies for attracting and retaining these critical generations include: Digital-First Approach: Both Gen Z and Millennials have grown up with technology and expect seamless digital experiences. Offering robust online and mobile banking platforms with features like digital account opening, real-time transaction alerts, and easy fund transfers is crucial. Credit Card Cross-sell Opportunities: Among Gen Z and Millennials, credit cards continue to be the most in-demand banking product2. By pairing attractive DDA offers with compelling credit cards, you can pave the way for DDA opportunities with current card-only customers. Personalization: These generations value personalized experiences. You can use advanced data analytics to offer customized financial products and services that meet individuals’ needs and preferences. Personalized communication and tailored offers can significantly enhance customer satisfaction and loyalty. Financial Education and Tools: Providing educational resources and tools to help manage finances can be a significant draw. Gen Z and Millennials appreciate institutions that offer budgeting tools, financial literacy programs, and personalized financial advice, and are likely to stick with institutions that also act as a trusted advisor. Innovative Features: Offering innovative features like integration with digital wallets, buy-now-pay-later options, and family banking tools can appeal to the tech-savvy nature of these generations. Keeping up with the latest technology trends ensures that the institution remains relevant and attractive. What consumers want in a demand deposit account With today’s high-interest rates and digital banking services, consumers are willing and able to move their money now more than ever.  It’s important to understand what a consumer values in a DDA to stay competitive: Accessibility and Convenience: Consumers want easy access to their funds at any time, whether through ATMs, online banking, or mobile apps. The ability to manage their accounts and perform transactions seamlessly is a top priority3. Interest Earnings: While not all demand deposit accounts offer interest, many consumers appreciate the opportunity to earn interest on their balances. This feature can make a DDA more attractive compared to non-interest-bearing accounts3. Security and Fraud Protection: Security is paramount for consumers. They want assurance that their funds are protected against fraud and unauthorized access, with features like real-time alerts and robust fraud detection systems3. These features collectively enhance the appeal of demand deposit accounts, making them more attractive to consumers seeking reliable and efficient banking solutions. How Experian Partner Solutions can help We offer a suite of tools and services designed to help financial institutions attract and retain your DDA customers: Advanced Data Analytics: We leverage extensive data analytics to understand consumer behavior and preferences. This allows you to create highly targeted and personalized offers that resonate with potential customers. Personalized Financial Insights: By leveraging comprehensive financial data, we can help you offer personalized insights and action plans that help customers manage their finances more effectively. This personalized approach can significantly enhance customer satisfaction and loyalty. Identity Monitoring: Our credit and identity alerts empower your consumers to spot potential fraud, assess risks, and respond before they become a victim of identity theft. By personalizing these alerts, we can drive consumers to your portal to review their risk level and respond in real time, giving you opportunities through additional touchpoints. Financial Wellness Solutions: We offer comprehensive credit and financial management tools to help your customers better understand the credit environment and learn how they can most effectively manage their finances. Educated, financially healthier customers are less likely to miss payments and ultimately pose less risk to your business. By utilizing these capabilities, we can help you attract and retain customers for DDA accounts, ultimately driving growth and enhancing customer satisfaction. The demand for consumer DDAs is on the rise, driven by the need for accessible and flexible banking solutions.  Financial institutions like credit unions and banks attract new deposits by offering competitive interest rates, seamless digital banking experiences, and personalized financial products. As consumers seek more convenience and value, financial institutions must innovate to meet evolving expectations and retain deposit growth. We offer the tools and insights needed to navigate this evolving landscape, helping you thrive in a competitive market. This article includes content created by an AI language model and is intended to provide general information. References [1] Why Gen Z is Switching Banks | Chime [2] 2025 Will Be the Year of the Credit Card | The Financial Brand [3] What Is a Demand Deposit Account? | Banking Advice | U.S. News

With cybersecurity threats on the rise, organizations are turning to token-based authentication as a secure and efficient solution to safeguard sensitive data and systems. Data breaches impacted 1.1 billion individuals in 2024, a staggering 490% increase from the previous year.1 Token-based authentication is a method of verifying a user's identity through digital tokens rather than traditional means such as passwords. These tokens are temporary and serve as access keys, allowing users to securely interact with systems, applications, and networks. The goal of token authentication is to strengthen security while improving the user experience. Instead of relying solely on static credentials (like passwords), which can be intercepted or stolen, leveraging a type of multi-factor authentication like tokens adds an additional layer of security by functioning as dynamic access credentials. How token-based authentication works Token authentication unfolds through a series of steps to ensure robust security. Here's a simplified breakdown of how it works in practice: User request and authentication: When a user attempts to log in, they provide their credentials (e.g., username and password). These credentials are verified by the authentication server. Token generation: After verifying the user's credentials, the server generates a token — a cryptographically secured string often containing information like the user's ID and permissions. Token sent to the user: The generated token is sent back to the user or their device to confirm authentication. Token usage for access: Now authenticated, the user uses the token to access the system or application. The token is passed along with each request to ensure the user is authorized to proceed. Token validation: Each time a token is presented to the server, its integrity and expiration are verified. If the token is valid, access is granted; if not, the session is terminated. Token expiration and renewal: Tokens are typically temporary and expire after a set period. Users must either re-authenticate or renew the token for continued access. This limits the time window during which a stolen token can be misused. Types of token authentication methods Token authentication comes in different forms to meet various use case requirements. Common types include: JSON Web Tokens (JWT) Lightweight, self-contained, and easily transferred between clients and servers, JWT is one of the most widely used token formats. It includes claims, which are bits of information about a user encoded within the token, such as roles and permissions. Example: A financial application uses JWTs to ensure only registered users can access private account data. OAuth tokens OAuth is an industry-standard authorization protocol that uses tokens to grant limited access to applications without revealing the user's credentials. It’s often used for third-party service integration. Example: When you log into an e-commerce platform using your Google credentials, OAuth tokens authorize access. Session tokens These are temporary tokens stored on the server to track authenticated sessions, commonly used in web applications to ensure secure browsing. Example: Online banking platforms rely on session tokens for secure user sessions. Refresh tokens Refresh tokens are designed to renew access tokens without requiring the user to log in repeatedly. They extend session durations while maintaining a high-security standard. Example: A subscription service app uses refresh tokens to maintain a seamless user experience without frequent logouts. Benefits of token-based authentication Token-based authentication offers several advantages that make it a preferred security measure for organizations of all sizes. Enhanced security: Tokens reduce the risk of breaches as they are temporary and encrypted. They’re also specific to sessions, applications, or devices, meaning unauthorized users cannot reuse stolen tokens effectively. Elimination of password reliance: Tokens reduce dependence on static passwords, which are often reused and susceptible to brute-force attacks. This bolsters an organization’s overall cybersecurity posture. Improved user experience: Token authentication allows for more seamless interactions by minimizing the need for repeated logins. With features like single sign-on (SSO), users enjoy convenient access to multiple platforms with a single token. Scalability: Tokens are flexible and can adapt to varied business use cases, making them ideal for organizations of all scales. For instance, application programming interfaces (APIs) and microservices can communicate securely via token exchanges. Supports compliance: Token-based authentication helps organizations meet regulatory compliance requirements by offering robust access control and audit trails. This is critical for industries like finance, healthcare, and e-commerce. Cost efficiency: While implementing token-based authentication may require an initial investment, it reduces long-term risks and costs associated with data breaches, system downtime, and customer trust. How Experian can help strengthen your authentication process At Experian, we recognize that strong security measures should never compromise the user experience. That's why we offer cutting-edge identity solutions tailored to meet the needs of organizations. Our tools allow you to integrate token-based authentication seamlessly into your systems while ensuring compliance with security best practices and industry regulations. Are you ready to take your business's security and user experience to the next level? Visit us online today. Learn more 12024-2025 Data Breach Response Guide, Experian, 2024. This article includes content created by an AI language model and is intended to provide general information.

The financial services industry faces increasing pressure to innovate in today's fluctuating interest rate environment. For regional banks and credit unions, effective deposit growth strategies involve more than just offering attractive rates. Leveraging data and analytics is key to enhancing deposit portfolios, improving customer engagement, and fostering financial wellness. By prioritizing consumer-focused solutions, institutions can achieve dual benefits: driving organizational growth while meeting customer needs. For a deeper dive into this subject, check out our on-demand webinar “Growing Beyond Interest Rates: The Opportunity for Demand Deposit Accounts.” The current state of interest rates and market dynamics As interest rates change, financial institutions encounter shrinking margins and heightened competition. The stakes are high: 54% of consumers plan to leave their banks within the next year1, often citing unmet expectations for personalized services and financial guidance2​​. This competitive environment requires innovative strategies to retain customers and attract new ones without solely relying on interest rates. Key challenges: Shrinking margins due to rate volatility. Increased competition from fintechs and alternative providers. Rising consumer expectations for personalized, proactive services. Leveraging data and analytics in your deposit growth strategies Regional banks and credit unions can distinguish themselves by investing in advanced data analytics and personalized engagement tools. These strategies help create value for customers while improving the institution’s operational efficiency and revenue potential. 1. Personalization through financial insights According to Experian data, more than half of consumers expect their financial provider to actively support their financial wellness2. However, one-third feel that current efforts fall short3​. Offering tools like spending trackers, budgeting resources, and personalized credit score improvement plans can help close this gap. 2. Engagement-driven solutions Consumers are more likely to stay loyal to institutions that provide actionable insights. Experian’s partners have seen a 5% lift in 12-month retention rates among customers enrolled in credit and identity programs according to data reported by partners2​. Alerts for credit monitoring and financial updates not only keep customers informed but also help drive monthly logins, enhancing cross-sell opportunities. 3. Identity and data protection as value-added services With the increasing threat of identity theft, proactive identity monitoring and restoration services are becoming critical. Banks offering these features—branded under their name—can boost customer satisfaction and loyalty​​. Practical steps for regional banks and credit unions To capitalize on these opportunities, financial institutions should consider the following steps: Step 1: Develop a customer-centric engagement program Tailor programs to different demographic groups. Millennials and Gen Z are particularly drawn to tech-savvy solutions that integrate seamlessly with their financial lives. By consolidating financial management tools within one portal, banks can help simplify customers’ lives and enhance engagement. Step 2: Focus on retention and cross-sell opportunities Consumers engaged with financial tools, such as credit score trackers or budgeting aids, exhibit stronger loyalty and are more likely to adopt additional products​. Use insights from these tools to offer personalized product recommendations that align with their financial journey. Step 3: Offer premium tiers Institutions can create tiered service packages, starting with free offerings (e.g., basic credit monitoring) and progressing to paid premium packages that include advanced identity protection or financial management analytics​​. Step 4: Utilize advanced analytics for targeting By analyzing anonymized customer data, banks can identify high-value segments and tailor marketing efforts to their specific needs. This targeted approach fosters more meaningful relationships and improves ROI on acquisition campaigns​. Case for Action: Why consumer engagement matters A customer engagement program does more than enhance loyalty, it helps drive measurable outcomes: Retention rates: Over 98% for free services and 91% for paid programs.4 Improved credit scores: Subprime consumers enrolled in credit-building tools see an average credit score increase of 32 points​​.5 Higher satisfaction scores: Some institutions offering comprehensive financial tools report a lift in Net Promoter Scores (NPS)​. Conclusion The path forward for regional banks and credit unions lies in moving beyond rate-based competition and looking to multipronged deposit growth strategies. By leveraging data, analytics, and consumer-focused programs, financial institutions can enhance their deposit portfolios and deepen customer relationships. Now is the time to transform engagement into a growth engine, ensuring long-term success in a dynamic market. Ready to elevate your deposit portfolio with our tailored solutions? Click below to learn more or contact us to schedule a consultation and design a program that meets your organization’s goals. Learn more Watch the webinar 1 Retail Bank Customer Satisfaction Holds Steady but Trust Declines, J.D. Power Finds, 2024 2 Experian internal analysis, 2024 3 MX, What Influences Where Consumers Choose to Bank, June 2023 4 Experian Core metrics analysis, October 2023 5 Experian Data, Credit Score Rates with subprime consumers, June 2022 – June 2023

As Valentine’s Day approaches, hearts will melt, but some will inevitably be broken by romance scams. This season of love creates an opportune moment for scammers to prey on individuals feeling lonely or seeking connection. Financial institutions should take this time to warn customers about the heightened risks and encourage vigilance against fraud. In a tale as heart-wrenching as it is cautionary, a French woman named Anne was conned out of nearly $855,000 in a romance scam that lasted over a year. Believing she was communicating with Hollywood star Brad Pitt; Anne was manipulated by scammers who leveraged AI technology to impersonate the actor convincingly. Personalized messages, fabricated photos, and elaborate lies about financial needs made the scam seem credible. Anne’s story, though extreme, highlights the alarming prevalence and sophistication of romance scams in today’s digital age. According to the Federal Trade Commission (FTC), nearly 70,000 Americans reported romance scams in 2022, with losses totaling $1.3 billion—an average of $4,400 per victim. These scams, which play on victims’ emotions, are becoming increasingly common and devastating, targeting individuals of all ages and backgrounds. Financial institutions have a crucial role in protecting their customers from these schemes. The lifecycle of a romance scam Romance scams follow a consistent pattern: Feigned connection: Scammers create fake profiles on social media or dating platforms using attractive photos and minimal personal details. Building trust: Through lavish compliments, romantic conversations, and fabricated sob stories, scammers forge emotional bonds with their targets. Initial financial request: Once trust is established, the scammer asks for small financial favors, often citing emergencies. Escalation: Requests grow larger, with claims of dire situations such as medical emergencies or legal troubles. Disappearance: After draining the victim’s funds, the scammer vanishes, leaving emotional and financial devastation in their wake. Lloyds Banking Group reports that men made up 52% of romance scam victims in 2023, though women lost more on average (£9,083 vs. £5,145). Individuals aged 55-64 were the most susceptible, while those aged 65-74 faced the largest losses, averaging £13,123 per person. Techniques scammers use Romance scammers are experts in manipulation. Common tactics include: Fabricated sob stories: Claims of illness, injury, or imprisonment. Investment opportunities: Offers to “teach” victims about investing. Military or overseas scenarios: Excuses for avoiding in-person meetings. Gift and delivery scams: Requests for money to cover fake customs fees. How financial institutions can help Banks and financial institutions are on the frontlines of combating romance scams. By leveraging technology and adopting proactive measures, they can intercept fraud before it causes irreparable harm. 1. Customer education and awareness Conduct awareness campaigns to educate clients about common scam tactics. Provide tips on recognizing fake profiles and unsolicited requests. Share real-life stories, like Anne’s, to highlight the risks. 2. Advanced data capture solutions Implement systems that gather and analyze real-time customer data, such as IP addresses, browsing history, and device usage patterns. Use behavioral analytics to detect anomalies in customer actions, such as hesitation or rushed transactions, which may indicate stress or coercion. 3. AI and machine learning Utilize AI-driven tools to analyze vast datasets and identify suspicious patterns. Deploy daily adaptive models to keep up with emerging fraud trends. 4. Real-time fraud interception Establish rules and alerts to flag unusual transactions. Intervene with personalized messages before transfers occur, asking “Do you know and trust this person?” Block transactions if fraud is suspected, ensuring customers’ funds are secure. Collaborating for greater impact Financial institutions cannot combat romance scams alone. Partnerships with social media platforms, AI companies, and law enforcement are essential. Social media companies must shut down fake profiles proactively, while regulatory frameworks should enable banks to share information about at-risk customers. Conclusion Romance scams exploit the most vulnerable aspects of human nature: the desire for love and connection. Stories like Anne’s underscore the emotional and financial toll these scams take on victims. However, with robust technological solutions and proactive measures, financial institutions can play a pivotal role in protecting their customers. By staying ahead of fraud trends and educating clients, banks can ensure that the pursuit of love remains a source of joy, not heartbreak. Learn more

Debt collectors face a multitude of challenges when it comes to contacting the right people at the right time and improving their processes for collections. We interviewed Matt Baltzer, Senior Product Management Director at Experian, to learn more about how his team is helping debt collectors engage their customers and optimize their collection strategies.

As data breaches become an ever-growing threat to businesses, the role of employees in maintaining cybersecurity has never been more critical. Did you know that 82% of data breaches involve the human element1 , such as phishing, stolen credentials, or social engineering tactics? These statistics reveal a direct connection between employee identity theft and business vulnerabilities. In this blog, we’ll explore why protecting your employees’ identities is essential to reducing data breach risk, how employee-focused identity protection programs, and specifically employee identity protection, improve both cybersecurity and employee engagement, and how businesses can implement comprehensive solutions to safeguard sensitive data and enhance overall workforce well-being. The Rising Challenge: Data Breaches and Employee Identity Theft The past few years have seen an exponential rise in data breaches. According to the Identity Theft Resource Center, there were 1,571 data compromises in the first half of 2024, impacting more than 1.1 billion individuals – a 490% increase year over year2. A staggering proportion of these breaches originated from compromised employee credentials or phishing attacks. Explore Experian's Employee Benefits Solutions The Link Between Employee Identity Theft and Cybersecurity Risks Phishing and Social EngineeringPhishing attacks remain one of the top strategies used by cybercriminals. These attacks often target employees by exploiting personal information stolen through identity theft. For example, a cybercriminal who gains access to an employee's compromised email or social accounts can use this information to craft realistic phishing messages, tricking them into divulging sensitive company credentials. Compromised Credentials as Entry PointsCompromised employee credentials were responsible for 16% of breaches and were the costliest attack vector, averaging $4.5 million per breach3. When an employee’s identity is stolen, it can give hackers a direct line to your company’s network, jeopardizing sensitive data and infrastructure. The Cost of DowntimeBeyond the financial impact, data breaches disrupt operations, erode customer trust, and harm your brand. For businesses, the average downtime from a breach can last several weeks – time that could otherwise be spent growing revenue and serving clients. Why Businesses Need to Prioritize Employee Identity Protection Protecting employee identities isn’t just a personal benefit – it’s a strategic business decision. Here are three reasons why identity protection for employees is essential to your cybersecurity strategy: 1. Mitigate Human Risk in Cybersecurity Employee mistakes, often resulting from phishing scams or misuse of credentials, are a leading cause of breaches. By equipping employees with identity protection services, businesses can significantly reduce the likelihood of stolen information being exploited by fraudsters and cybercriminals. 2. Boost Employee Engagement and Financial Wellness Providing identity protection as part of an employee benefits package signals that you value your workforce’s security and well-being. Beyond cybersecurity, offering such protections can enhance employee loyalty, reduce stress, and improve productivity. Employers who pair identity protection with financial wellness tools can empower employees to monitor their credit, secure their finances, and protect against fraud, all of which contribute to a more engaged workforce. 3. Enhance Your Brand Reputation A company’s cybersecurity practices are increasingly scrutinized by customers, stakeholders, and regulators. When you demonstrate that you prioritize not just protecting your business, but also safeguarding your employees’ identities, you position your brand as a leader in security and trustworthiness. Practical Strategies to Protect Employee Identities and Reduce Data Breach Risk How can businesses take actionable steps to mitigate risks and protect their employees? Here are some best practices: Offer Comprehensive Identity Protection Solutions A robust identity protection program should include: Real-time monitoring for identity theft Alerts for suspicious activity on personal accounts Data and device protection to protect personal information and devices from identity theft, hacking and other online threats Fraud resolution services for affected employees Credit monitoring and financial wellness tools Leading providers like Experian offer customizable employee benefits packages that provide proactive identity protection, empowering employees to detect and resolve potential risks before they escalate. Invest in Employee Education and Training Cybersecurity is only as strong as your least-informed employee. Provide regular training sessions and provide resources to help employees recognize phishing scams, understand the importance of password hygiene, and learn how to avoid oversharing personal data online. Implement Multi-Factor Authentication (MFA) MFA adds an extra layer of security, requiring employees to verify their identity using multiple credentials before accessing sensitive systems. This can drastically reduce the risk of compromised credentials being misused. Partner with a Trusted Identity Protection Provider Experian’s suite of employee benefits solutions combines identity protection with financial wellness tools, helping your employees stay secure while also boosting their financial confidence. Only Experian can offer these integrated solutions with unparalleled expertise in both identity protection and credit monitoring. Conclusion: Identity Protection is the Cornerstone of Cybersecurity The rising tide of data breaches means that businesses can no longer afford to overlook the role of employee identity in cybersecurity. By prioritizing identity protection for employees, organizations can reduce the risk of costly breaches and also create a safer, more engaged, and financially secure workforce. Ready to protect your employees and your business? Take the next step toward safeguarding your company’s future. Learn more about Experian’s employee benefits solutions to see how identity protection and financial wellness tools can transform your workplace security and employee engagement. Learn more 1 2024 Experian Data Breach Response Guide 2 Identity Theft Resource Center. H1 2024 Data Breach Analysis 3 2023 IBM Cost of a Data Breach Report