Tag: credit data

Discover how Union Credit and Experian help credit unions reach younger consumers through personalized digital lending experiences.

As financial behavior becomes more dynamic, real-time data is emerging as a powerful tool in reshaping how lenders assess risk.

During economic uncertainty, lenders can leverage retention triggers to proactively engage customers and reduce churn. 

In March's State of the Economy report, we provide insights into consumer spending, the housing market, originations, and more.

This report provides a snapshot of the top monthly economic and credit data, including inflation, the housing marketing, and card balances.

This report provides a snapshot of the top monthly economic and credit data, including student loans, consumer spending, and delinquencies.

Today’s changing economy is directly impacting consumers’ financial behaviors, with some individuals doing well and some showing signs of payment stress. And while these trends may pose challenges to financial institutions, such as how to expand their customer base without taking on additional risk, the right credit attributes can help them drive smarter and more profitable lending decisions. With Experian’s industry-leading credit attributes, organizations can develop precise and explainable acquisition models and strategies. As a result, they can: Expand into new segments: By gaining deeper insights into consumer trends and behaviors, organizations can better assess an individual’s creditworthiness and approve populations who might have been overlooked due to limited or no credit history. Improve the customer experience: Having a wider view of consumer credit behavior and patterns allows organizations to apply the best treatment at the right time based on each consumer’s specific needs. Save time and resources: With an ongoing managed set of base attributes, organizations don’t have to invest significant resources to develop the attributes themselves. Additionally, existing attributes are regularly updated and new attributes are added to keep pace with industry and regulatory changes. Case study: Enhance decision-making and segmentation strategies A large retail credit card issuer was looking to grow their portfolio by identifying and engaging more consumers who met their credit criteria. To do this, they needed to replace their existing custom acquisition model with one that provided a granular view of consumer behavior. By partnering with Experian, the company was able to implement an advanced custom acquisition model powered by our proprietary Trended 3DTM and Premier AttributesSM. Trended 3D analyzes consumers’ behavior patterns over time, while Premier Attributes aggregates and summarizes findings from credit report data, enabling the company to make faster and more strategic lending decisions. Validations of the new model showed up to 10 percent improvement in performance across all segments, helping the company design more effective segmentation strategies, lower their risk exposure and approve more accounts. To learn how Experian can help your organization make the best data-driven decisions, read the full case study or visit us. Download case study Visit us

Learn how expanded FCRA-regulated data can be used to gain a more powerful and complete view of consumers' financial situations. Read more.

Experian’s Ascend Intelligence Service platform has been named “Best Consumer Lending Product” in the sixth annual FinTech Breakthrough Awards.

We're considering the pros and cons of manual fraud reviews, and the benefits of applying analytics to your fraud review process.

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

Experian announced its expansion into Employer Services and the release of its new real-time income and employment verification products, Experian Verify.

The economic impact of the COVID-19 health crisis is ever-evolving and requires great flexibility and planning from lenders.

Here's a brief FCRA-related compliance overview to refresh your memory on various FCRA requirements when requesting and using consumer credit reports.

Learn how to accurately and consistently report on consumers' credit while complying with regulatory guidance during the COVID-19 pandemic.