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It’s hard to believe that Christmas is just around the corner. Many of us will be starting to think about (or if you’re very organised, have already finished) their Christmas shopping. Black Friday sales will kick-off this week’s online bonanza, as bargain hunters pursue the best deals online. However, while we are all busy getting into the spirit of things, it has never been more vital that we do what we can to protect ourselves from identity fraud. As the popularity of the Black Friday sales season has grown, we’ve also seen a marked increase in the volume of fraudulent activity, as criminals use stolen or illegally obtained personal details to apply for credit in someone else’s name. According to our latest analysis of National Hunter Fraud Prevention Service data, the fraud rate for credit card applications has increased by 43% in the last three months to 69 confirmed fraudulent applications per 10,000 applications. It’s expected the rate will rise even more in December, as criminals look to take advantage. It’s naturally worrying if you are a victim of ID fraud. The fraudster will likely have tried to obtain credit in your name – perhaps on multiple occasions – and you’ll be concerned about how and from where they got hold of your information in the first place. Fortunately, there’s a host of things you can do to protect yourself. Checking your credit report on a regular basis is one of the best ways to spot if fraudsters have used your personal information to attempt to access credit, and our dedicated teams can help guide you through the steps if the worst happens and your identity has been stolen. New services and solutions are also helping companies identify and prevent more fraud. In part, the rise in rates can be attributed to better detection, helping fraud teams focus their energy on fraudulent applications, rather than genuine ones. So, while you’re browsing for gifts this festive season, make sure you are mindful of those looking to spoil your Christmas spirit. Help is available and you can read more on how to guard yourself against identity fraud on our website.

Experian is a passionate believer in the role of data as a force for good in the world. Now more than ever, data has a role to play in helping people and businesses across the UK as they recover from the pandemic and look to the future. The National Data Strategy sets a direction for a dynamic and successful Britain, building on a foundation of data insight and analysis. We’re pleased to be able to host the NDS Forum’s Midlands launch today, and to work with organisations from across the region to support its future success. Working together, we can harness the opportunities ahead to deliver positive outcomes for people, businesses and the economy – both in the Midlands and across the wider United Kingdom. Minister for Media, Data and Digital Infrastructure, Julia Lopez, said: "Data is transforming our economy and society by powering better public services and creating new jobs. We want to unlock the power of data through our National Data Strategy and this event will see us work with local communities in the Midlands to see how we can use data to improve people's lives and build back better from the pandemic."  

Over the past 18 months, we’ve monitored insights related to consumer and business economic outlooks, financial well-being, online behavior and more. One of the most significant insights was the accelerated shift toward e-commerce and digital financial services. In fact, there has been a 25% increase in digital transaction across the globe since the start of the pandemic including shopping, banking, and transacting online. Our latest 2021 Global Insights Report found that the increase in online activity held steady, even with the return of physical shopping and banking. The study also found that consumers are spending again. Nearly 10% of consumers are spending more and putting less away in retirement or emergency savings than from one year ago. However, even though customers are spending more, loyalty to online businesses is declining. We found that 61% of consumers say they are staying with the same online service provider they used prior to COVID-19. This a decrease of 8% from one year ago. The continued increase in online activity, coupled with heightened consumer expectations, dwindling customer loyalty, and increased competition, could lead to potential revenue loss or gain. Businesses must find solutions to improve digital engagement and customer acquisition. Fortunately, improving digital engagement and customer acquisition are companies’ top priorities as they maneuver the pandemic-accelerated boost in digital transactions. They are leveraging advanced technologies like digital credit risk decisioning, passive authentication, and artificial intelligence to improve the digital customer experience and grow their business. According to Experian’s report, 90 percent of companies are investing in business automation, 76 percent are improving or rebuilding their analytics models and 65% intend to increase fraud budgets. Adoption of AI has risen from 69% to 74% and machine learning from 68% to 73% in one year. We also found that 50% of companies are exploring the use of expanded data sources. To develop the study, Experian surveyed 3,000 consumers and 900 businesses across 10 countries around the world including Australia, Brazil, Germany, India, Italy, Japan, Singapore, Spain, United Kingdom and United States. This report is part of a longitudinal study and published series that started in June 2020 through October 2021 exploring the major shifts in consumer behavior and business strategy throughout COVID. Access all global research reports here. To learn about more findings, download the  Global Insights Report and visit the Global Insights blog.

I am delighted to have announced our new partnership with Code First Girls, a non-profit organisation that teaches women to code for free, and helps increase the number of women – an under-represented group – working in tech.     As a South African woman of Indian heritage, a single parent of two bi-racial girls aged 18 and 22, and a human resources executive with a passion for talent, leadership, and development, I work daily with my team to support Experian deliver on its brand promise of powering opportunities to create a better tomorrow for our people, consumers and businesses globally. So I am personally and professionally very proud of this development.    Our partnership means four young women can study for a Code First Girls‘ Nanodegree, while working as paid interns in EMEA for the next nine months.    These young talents come from diverse backgrounds, helping us diversify our workforce and bringing fresh thinking and new perspectives. They’ll benefit from our flexible ways of working, being based primarily from home. They’ll gain international experience as they are joining our Data Science and Innovation teams in South Africa and Italy.    Moreover, they will help us drive our financial inclusion agenda by working on our United for Financial Health programme. This means we will have four young women working on financial inclusion solutions for women and four 18 to 25-year-olds working on financial inclusion solutions for the same demographic.  This is a people-led innovation that contributes to the circular economy and adds purpose to our Company’s commitment to Diversity, Equity & Inclusion in its fullest sense, supporting our sustainable business goals.   This isn’t philanthropy or theory. This partnership means our interns will work hard, learn and develop themselves as they prepare for a career in data and tech. It means we will also learn and evolve through this initiative.    I’m curious: how do young, fresh talented people experience us?  Will this partnership really enable four young women to start sustainable, fulfilling careers in tech, data, artificial intelligence, or software development?  Will it help Experian attract and retain the best early tech talent in future?    As with every innovative step we take, we’re unsure of the outcome, and that’s OK, as well as exciting. What is important is that we’ve started a new journey together, and  I’m excited to see where it takes us.    If you’d like to meet our EMEA interns and track their journey, follow us on Facebook, Instagram, LinkedIn and Twitter.

Black History Month launches in the UK today. Throughout the month, we’ll be holding a series of events to support Black British people to realise their personal financial and business aspirations. Look out for webinars on Credit Scores and Property Investing on 6th October and Credit Scores and Entrepreneurship on 13th October, with guest speakers including Kazeem Alli-Balogun, Sebastian Newby, Stephanie Taylor, Rachael Twumasi-Corson from Afrocenchix, Ismail Oshodi and Raphael Sofoluke. Register here. The last week of October also sees the launch of the first Experian Entrepreneur Challenge, a 5-day bootcamp helping Black micro-entrepreneurs define the roadmap towards business success. The week includes topics like how to spot opportunities for business expansion, and formalising business and funding growth, with special guests from Experian teams holding masterclass sessions on topics like market research, marketing and recruitment. At the end of the week, entrepreneurs will pitch for £3000 worth of funding to help grow their business. Participants will be uploading video diaries over the course of the week, which takes place from 27th October onwards – you’ll be able to check out their experiences on our YouTube channel here. Finally, the Experian team will be sharing personal experiences and career advice at two exciting events, Black Tech Fest and UK Black Business Week. We’re proud to be sponsors of both events. Watch out for more updates and ways to join in virtually nearer the time!

Today the UK Government’s Department for Culture, Media and Sport (DCMS) launched its consultation into the new data strategy for the UK. The consultation lays out an ambitious approach to protect consumers and deliver positive change in the UK. We welcome the announcement and share its vision for a thriving, innovative digital Britain, one where people feel confident that their data is looked after and know that their privacy is protected. We’ve always believed that data has the power to help improve lives, businesses and economies both in the UK and around the world. Over the last 18 months data-driven services have helped people manage their money during unprecedented economic and financial uncertainties; helped small businesses connect with their customers; and supported charities, the NHS and local Government in deploying resources and support to those who need it the most. Now, data can help rebuild the economy, nurture the green shoots of future success, help people take control of their financial lives, and position the UK as a global leader in consumer protection and technological innovation. We look forward to engaging with the consultation process, and working with stakeholders across the ecosystem to help shape that future vision. You can find the full consultation document here and this morning’s press announcement from the Government here.  

We believe every individual deserves the opportunity to reach their fullest financial potential through fair and affordable access to credit. While leveraging data, analytics and technology are key components of this, we must also ensure consumers understand how credit works and the ways it can be used as a financial tool throughout their lifetimes. This notion is the impetus behind our annual State of Credit report. Now in its twelfth year, this report takes a close look at how consumers are managing their credit histories to educate them about the factors influencing their financial health. This year’s report shows the average credit score has climbed to 695 – the highest point in more than 13 years. Many consumers were managing credit well before the pandemic’s arrival and the accommodations afforded by the Coronavirus Aid, Relief and Economic Security (CARES) Act may have helped consumers protect their financial health. At the same time, stay-at-home orders and record savings levels may have contributed to fewer missed payments, lower credit utilization rates and lower debt. While these findings are positive, we recognize they do not tell the full story. There are tens of millions of consumers who lack fair access to credit because of a limited credit history. Low-income consumers and communities of color are disproportionately credit invisible, preventing them from obtaining low-cost, traditional financial services. There is significantly more work to do to ensure all consumers have fair access to credit. We are committed to working with lenders, regulators, businesses, consumers and partners to eliminate credit invisibility and improve financial equity and access. Our meaningful partnership with Operation HOPE, the largest financial literacy nonprofit in the U.S., is one example of this commitment brought to life. Operation HOPE has goals that align with ours: to uplift disenfranchised youth and adults from poverty to thriving in a credit ecosystem. Together with Operation Hope, we are making a tangible difference in financial inclusion by helping consumers raise their credit scores through financial coaching, education and tools like Experian Boost. As part of this year’s State of Credit report, we also helped introduce Operation HOPE’s new HOPE Financial Wellness Index. This new tool will be a valuable resource for the Hope Research Institute who plans to leverage it to identify the communities most in need of financial literacy programs. “While consumers on average are managing their credit histories well, we know there are many communities in critical need of more financial education and resources,” said John Hope Bryant, Operation HOPE founder and CEO. “By helping people raise their credit scores, we are empowering them to take advantage of one of our nation’s most democratic tools. From housing and employment to healthcare and education, credit worthiness can be leveraged to improve our overall quality of life. We’re committed to using the HOPE Financial Wellness Index as a force for good in the communities we serve.” Through our investments in expanded data, technology, advanced analytics and new innovations, we will continue to help lenders identify consumers who are excluded from the credit ecosystem, but who can fulfill their financial obligations and pay responsibly. At the same time, we will continue to take strides that empower consumers to take control of their financial lives. For additional free educational resources and more information about this year’s State of Credit report, I encourage you to visit the links below. State of Credit report findings: https://www.experian.com/blogs/insights/2021/09/state-of-credit-2021 Join Experian’s weekly #CreditChat hosted by @Experian on Twitter with financial experts every Wednesday. Bilingual and Spanish speakers are also invited to join Experian’s monthly #ChatDeCrédito hosted on Twitter at 3 p.m. Eastern time beginning September 16. The Ask Experian blog includes answers to common questions, advice and education about credit Positive telecom, utility and streaming service payments can be added to your Experian credit report by visiting experian.com/boost Additional resources available at https://www.experian.com/consumereducation

The summer months in Italy often provide us with a short time to take a break and recharge our batteries as we head into the second half of Experian’s financial year. Yet, there is still the opportunity to move important projects further forward. In July, Chief Operating Officer of Experian EMEA Marco Benvenuto announced we had agreed to partnerships with two non-profit organisations as part of our United for Financial Health programme. MircoLab and AMS both have goals that align with ours in working to reduce financial exclusion. Today, I can provide you with more details about our partnership and how we will help groups of people who find it hard to access fair and affordable credit because they lack relevant financial data. These credit “invisibles” can often come from vulnerable groups such as NEETs (Not in Employment, Education or Training), foreign caregivers and female victims of violence. The Covid-19 pandemic has been a challenge for us all, not least the people in these groups. Working with our partners, the IncludiMi initiative aims to create a new credit assessment based on data that can contribute to a more inclusive measure once analysed. We will also strengthen the skills of the people involved by offering financial education and mentoring them to become economically independent. At the heart of the new programme is the planned IncludiMi app, which will allow credit “invisibles”, including the unbanked, to have their financial health estimated by reviewing non-traditional data. People will use the app to create and understand their personal and family’s budgets while following tips and suggestions from the financial education sessions led by experts at our partners. We are excited about the potential this partnership - and the United for Financial Health programme overall - has to improve the lives of so many people by tackling financial exclusion. I look forward to providing you with further updates on our progress in the coming months.

Experian works hard at having a workplace culture where everyone feels a sense of belonging. We’re constantly evolving and improving, and proud to share several recent acknowledgements that we’re on the right track. We have a robust multi-generational employee base, and know that the diversity of perspectives and experience spark innovations that lead to financial inclusion for all. Millennials make up the largest portion of our workforce and we’re thrilled to be named a Fortune Best Workplace for Millennials. Millennials want to work for organizations that offer fair pay and meaning, inclusive benefits beyond parenthood, gender equity, flexibility and safe spaces, according to Great Place to Work (GPTW). Employee comments to a GPTW survey indicate our team believes we are doing well: “One question you ask is do we hire people who fit in... No, we don't always - which is why we can innovate and create change - if everyone agrees on every approach, we wouldn't be nearly as successful as we are. That's one thing that makes it a great place to work - our diversity of thought and approach to problems.” Gender equity has been a focus of ours, from recruiting to talent development. Almost half of our new hires, current employees and promoted talent identify as women. Further demonstrating our commitment to diversity and inclusion, former Experian North American CEO Craig Boundy is ranked the #12 Best CEO for Women 2021 by Comparably. This ranking is based on 10 million ratings across 60,000 companies, Every CEO on the list is in the Top 5% of all CEOs rated by female employees. Experian also earned several other awards from Comparably: Best HR Teams of 2021 Best Company Outlook of 2021 Best Places to Work in Los Angeles 2021 Top 10 for Career Growth “I've worked for a ton of different technology companies and have never seen such a strong leadership team nor seen a company invest so much in their employee's future!” (quote from GPTW survey) “Opportunity to grow and move around various lines of business through your career within Experian - allows you to continue to challenge yourself and grow without leaving the organization.” (quote from GPTW survey) Comparably’s Annual Best Places to Work Awards rely solely on the input of employees, which makes these honors especially meaningful. We appreciate their feedback and their contributions every day. Check out our 2020 Power of YOU report to learn more about our coworkers, leadership and how we serve our communities.