In the early 1970’s a brilliant engineer/inventor/music lover designed a credit card sized electronic music player.  Early prototypes and models of this small music player received the accolades of “the most radical music system ever” from the audio industry.  Many of you may think I am talking about Steve Jobs – well I am not.  This inventor however was distracted, did not pay attention to the business and saw the technology get away from him.  And that is why today, Jobs and Apple’s 1.75 billion iPods are a household name and Kane Kramer is not. So the question for you today is…are you keeping your eye on the technology, trends, and market place that will make your commercial lending efforts successful and sustainable? In a CEB TowerGroup survey, bank executives clearly called out that maximizing credit applications with quality growth is the top priority for 2014. To be successful in achieving that growth commercial bankers will be focused in 2014 and beyond on these five key areas: (1) Rationalizing infrastructure, (2) Optimizing sourcing, (3) Centralizing risk management, (4) Enhancing liquidity management, and (5) Implementing commercial loan management solutions.  To back that claim, in the 2013 Sales Readiness Assessment, CEB TowerGroup found that banks that are taking these steps to lead in technology changes were seeing an increase of 8% in their top performing relationship managers, and a 13% increase overall. And while growth is critical, we cannot take our eye off the existing portfolio.  Best practices suggest that to make the most impact in 2014, institutions should in the next 90 days to take steps to look at their individual loans, but with multiple factors, e.g. duration, convexity, and yield.  But even more important banks should aggregate these views to a portfolio level to make sure that can optimize returns overall. So while we see that in commercial lending the 3-year CAGR is now 10.5% and looking stronger, banks need to focus and not be distracted and capitalize on these opportunities.  Invest and stay focused on the future! Vision 2014: The new world of commercial lending from Experian Business Information Services Tweet this! Not focusing on #innovation & change can cost you. Kramer designed IXI in the 70's.  But #apple gained with 1.7 B #ipod sold. #vision2014 Click to Tweet This At @ExperianVision and Joanne Pollitt from CEB Tower Group talking about #change in cmcl #banking for 2014.  Are you ready?  @ExperianVision  Click to Tweet This What is your #banks top #commercial #banking #initiative for 2014?? How can @Experian_DA_GCP and @Experian_US help you  #succeedandproceed  Click to Tweet This  

4000! Consumers view over 4000 ads per day. As a result they are overwhelmed with information and opt not to see what could be waiting for them. The best way to grab the consumer’s attention and CLOSE the sale is to target them with content directly related to their interests. This is not an easy task, but Experian can help lenders stay above the noise and drive relevant traffic to their websites. We can turn a site visit into a credit qualified lead and ultimately a high-quality booked account – cutting through the “junk” that drags down your portfolio’s performance. Are you sure you have a truly optimized digital prospecting strategy?  Do you have the data to drive both the targeted advertising for increased site traffic and to customize the credit offers that empower the consumer to complete an application? Experian has the data assets to help you tailor the entire online experience for the least amount of online friction. For example, your advertisements can be as customized as creating a multi-channel cross-device experience based on your own marketing history or you can optimize your current online advertising strategy using additional data elements to get the most out of your marketing dollars. Use marketing and credit data to stay relevant and generate the highest quality traffic. The consumer has come to the store – you still need to close the sale!  Experian’s ability to leverage data once the consumer has reached the site is the new frontline for developing a relationship with your customers.  By bringing credit data to the beginning of the conversation, before they have decided to apply, you can learn from your customer and educate them on their best option.   You can’t deny wanting to help your customers find the right products for them but also increase your ROI, and continue to maintain your risk modeling. Come see what Experian can do for you!  Learn how our data-driven solutions can help you create a tailored digital consumer experience to build customer loyalty and drive new loan growth. Vision 2014: Customer acquisitions in a changing digital landscape from Experian Business Information Services Tweet this! 90% of our media interactions are screen-based.  #digitalmarketing #vision  Click to Tweet We spend over 4 hours a day on average in front of screens of increasingly diverse sizes?  #digitalmarketing #vision2014  Click to Tweet Consumers choosing online & #mobile channels to engage, creating challenge in authenticated cross-selling #digitalmarketing #vision2014  Click to Tweet Deliver the right message to the right consumer about the right product – optimize your # digital strategy #digitalmarketing #vision2014  Click to Tweet Experian is only bureau able to offer targeted digital advertising capabilities and robust credit decisioning tools #vision2014  Click to Tweet

The amount of data being generated nowadays is staggering. In fact, according to one source, more data has been produced in the past two years than ever before. Certainly Experian has made it our business to understand all of this data and how to harness it. I’ve recently had the opportunity to consider the impact of data in Formula 1 Racing, the most prestigious and high-tech racing series on the planet. Experian is a sponsor of Williams Martini Racing, which is one of the “big four” teams in the sport and has produced 16 Formula One World Championship titles. In F1, information is used to provide innovation and engineering expertise that creates the world’s fastest and most powerful cars. One the most fascinating elements of the F1 experience is to see what happens in the Williams Martini garage during a race. A team of master technicians watch several monitors and track an overwhelming amount of real-time data during the race – from minute details about the car, to changing weather conditions, to information about all the other race cars. Then these highly trained racing engineers instantaneously analyze the data and provide it to the pit crew and the driver in order to make the best possible decisions to win. There is a parallel to what we’re doing at Experian and our Information Services business. A team like Williams Martini Racing consistently puts a competitive car on the track year after year because of its ability to analyze technical data and improve its chances of winning. This is exactly what Experian does for our clients. We constantly push the envelope by developing innovative applications to capture the value hidden within data. For over 30 years, we have harnessed the power of Big Data for our clients. We gather data and utilize analytics to produce winning business insights. We enable our clients to drive revenue, increase profitability and gain greater competitive advantages. It might not be as glamorous as an F1 race in Monte Carlo, but at Experian, we share the same motivations as Williams Martini Race to use data correctly in order to deliver winning results. At the end of the day, F1 racing is about maximum performance. At the end of OUR day, Experian is about bringing value to consumers and maximum performance for businesses.

Debt is often thought of as a scary word and many spend their lives trying to avoid it at all costs. Understanding what credit is, why you need it and how to build it can help make it less frightening and can actually put you in control. Debt doesn't have to be a four-letter word. To wrap up Financial Literacy Month, Experian released a study this week that takes an in depth look at debt and credit scores in the 20 largest cities across the U.S. and compares the numbers to where these cities were four years ago. The findings show that Detroit residents have the least amount of debt, while the residents of Dallas have the most. From a national perspective, debt has increased by 5 percent and in 19 of the 20 cities studied, average debt has increased, which actually signals a positive trend. How is that possible, you ask? Well, the analysis showed that with the increases, these large cities are actually managing the debt they have quite well, and that credit lending is opening up. REMEMBER: Credit is a tool that if managed correctly can be a positive – the key is not to misuse the credit you have. Take a look at the map below to see how these large cities fared, and visit www.livecreditsmart.com to read more about the study and how you can make better financial decisions and be more aware of where you stand from a credit perspective. In today’s changing economy, it’s more important than ever to take control of your credit and live credit smart no matter where you live. See the map below and view the news release for more information on this study.

Did you know children are increasingly vulnerable to being a victim of identity theft? Their clean credit history is an easy target for perpetrators.  Thieves often can profit for years before the crime is detected. In general, minors should not have credit activity or a credit report until they apply for loans or a credit card. That said, it is possible that they may have a credit history if you have added them as an authorized user to your credit accounts during their teen years. If you are concerned, checking your credit report is always a good first step in determining whether or not you are a fraud victim, and the same rule applies to children as well. Check out the infographic below for warning signs, steps you can take to see if your child has a credit report and tips to prevent your child from becoming a fraud victim. Here are the measures Experian uses to protect minors’ credit histories: Experian will not knowingly disclose a credit report that belongs to a minor except to a parent or legal guardian. At www.annualcreditreport.com if you enter a birth date that is associated as being under the age of 13, it will automatically reject the request to pull the credit report. Experian will not provide a credit report to a lender if our records indicate the report belongs to a minor. We will return a notice to the lender that states the report they requested is associated with a minor. The lender then can take appropriate action to protect the child from credit fraud. You cannot request your child’s credit report without providing appropriate documentation that proves you are the parent or legal guardian. For more information on minor’s credit visit the Ask Experian blog.

Experian-Oliver Wyman data reports a 46 percent increase in home equity lending; 19 percent increase in bankcard origination volume Costa Mesa, Calif., April 30, 2014 — Experian®, the leading global information services company, today released year-end analysis of credit and mortgage trends from the 2013 Q4 Experian–Oliver Wyman Market Intelligence Report that showed positive economic indicators along with smarter consumer spending. “Overall from 2013 we saw a strong steady improvement in the economy similar to our 2012 year-end review. Consumer confidence increased as they continue to be resilient during the ongoing recovery,” said Linda Haran, senior director of product management and strategy for Experian Decision Analytics. “While overall consumer debt increased 6 percent, it was not heavily weighted in one particular VantageScore segment.  Debt increases occurred across all VantageScore consumer segments equating to a balanced distribution of increases in total debt year-over-year. That represents smarter spending among all consumers.” “Other positive indicators coming out of 2013 include bankruptcies declining 12 percent from 2012 and consumer delinquency trends continuing to decrease. Home Equity originations realized strong growth in 2013, exceeding 2009 levels as new lending was up 42 percent in Q4 2013 over the same period a year ago.” Watch Experian Decision Analytics analysts Linda Haran and Alan Ikemura discuss the latest trends from the Experian-Oliver Wyman Q4 2013 report on consumer debt, bankcards, mortgages and auto. 2013 Mortgage trends included: Overall mortgage origination volume in 2013 was $2 trillion up from $1.9 trillion in 2012 2013 saw annual growth of 25% in new home purchase volume compared to 2012 Overall mortgage 30+ day mortgage delinquency rates were down 14 percent in 2013 versus 2012 The West region saw 30+ day mortgage delinquency rates drop 23 percent in 2013 versus 2012. California saw a 24 percent decline in late mortgage payments. 2013 Bankcard trends included: Analyzing the data for 2013 shows a 19 percent increase in bankcard origination volume, growing from $228 billion to $271 billion year over year. Two-thirds of new bankcard originations occurred among the Super Prime (781 – 850) and Prime (661-780) VantageScore tiers. The U.S. 60+ day delinquency bankcard rates overall improved 14.5 percent in Q4 2013 versus Q4 2012. All 50 states saw bankcard delinquency rates improve for the 60+ day category. California, Tennessee, Massachusetts, Michigan and Wisconsin were the top 5 states that improved their 60+ day delinquency bankcard rates in Q4 2013. Arizona, New Mexico, Arkansas, West Virginia and Alaska were the bottom 5 states in terms of overall percentage improvement among 60+ day delinquency bankcard rates in Q4 2013. Experian has dedicated educational resources to help consumers understand the impact debt has on credit. Consumers can visit our Live Credit Smart website to learn more. For more insight from Experian Decision Analytics, watch our 2013 Q4 Experian–Oliver Wyman Market Intelligence Report presentation: http://ex.pn/1eJaRZB. Make sure to join us for Q1 2014 Experian–Oliver Wyman Market Intelligence Report webinar. About the data The data for this insight and analysis was provided by Experian’s IntelliViewSM product. IntelliView data is sourced from the information that supports the Experian–Oliver Wyman Market Intelligence Reports and is easily accessed through an intuitive, online graphical user interface, which enables financial professionals to extract key findings from the data and integrate them into their business strategies. This unique data asset does this by delivering market intelligence on consumer credit behavior within specific lending categories and geographic regions.

Experian is in final preparations for our upcoming Vision Conference, taking place May 4-7 in Dallas, Texas at the Omni Dallas Hotel. This year’s theme “Quality Growth – Defining new strategies” is supported consistently throughout our event agenda starting with an impressive group of speakers in our general session including President Bill Clinton, Chief Investment Strategist James W. Paulsen Ph.D. and Heisman Trophy winner, Super Bowl MVP and Pro Football Hall of Famer and Executive Chairman of Jones Lang LaSalle Americas, Roger Staubach. Each of these outstanding speakers would be incredible on their own, so hearing their message over the course of four days at Vision 2014 is something not to be missed. An Extensive Array of Breakout Session Tracks Breakthrough Data and Analytics The break-through data and analytics track will share information on innovative ways that Experian and its partners are responding to the newest challenges and opportunities facing their organizations. Session topics will cover new technologies and how they are being harnessed to address and make sense of today’s rapidly expanding data environment. Other sessions will highlight break-through analytic techniques that reveal deeper perspectives in consumer behavior and the opportunities these new insights create. Confident Growth This track is all about gaining insight into strategies for acquiring new consumers in a constantly evolving market. Focus areas include enhanced targeting based on current consumer behaviors, moving beyond traditional methods into digital channels and more effective prioritization for a holistic consumer view. Risk Redefined The risk redefined track will deliver unique perspectives on risk-management issues. Sessions provide risk-oriented discussions across a broad range of topics, including acquisitions, account and customer management, loss mitigation and collections. The risk redefined track will have attendees rethinking how they approach risk in their organizations. Unleashing Business Lending Following years of uncertainty and increased regulation, business lending is ready to be unleashed. Learn how to understand new commercial market conditions, how to recognize what business owners want in a financial institution and how to deliver on those needs in the marketplace. Discover Business Information The discover business information track provides strategic insights for businesses within the commercial credit space. Key areas of focus include the health of U.S. businesses, trends for small-business and commercial lending, finding more profitable small-business customers and sharing best practices for growing commercial portfolios while reducing risk. Beyond Financial Services Beyond Financial Services provides an opportunity to learn about the issues affecting industries outside the traditional banking community. These sessions will address the unique needs of automotive lenders, telecommunications and the public sector. Fraud Prevention Discuss current and emerging fraud prevention and identity authentication techniques spanning private, public and healthcare sectors. Hear directly from peers, service providers and industry experts about how you can make tactical and strategic improvements to current operational processes and your future road maps. Hot topics Explore innovations and new concepts related to the challenges of the ever-changing market. There will be panels and case studies by industry experts on the regulatory environment, developments to improve loss forecasting, addressing data integrity and dispute management concerns, as well as growth of mobile offers through optimization tools and unique analyses of Millennial borrowers. Connect while at Vision Experian will be sharing lots of great content from the breakout sessions via our event blog in addition to several social media channels, be sure to follow our updates: Follow us on twitter @experianvision hashtag #vision2014. You can also interact with our event speakers directly and can find many of them on our event Twitter list. Are you following our LinkedIn page? You should, we will be posting periodically to our special page on LinkedIn. Share your Vision 2014 experience with your friends and colleagues by posting photos to Instagram using hashtag #vision2014 – remember to follow our Instagram feed. Would you like to attend Vision 2014? You can find more information here.  

In honor of Earth Day, Experian Automotive released findings from an analysis comparing electric and hybrid* vehicles. Findings from the analysis showed that in 2013, more than 45 percent of hybrid car buyers were 56 years old or older, while roughly 26 percent of electric car buyers were of the same age. The greater percentage (55 percent) of electric buyers were between the ages of 36 years old and 55 years old. Additionally, nearly 21 percent of consumers purchasing an electric car had an average household income of $175,000 or more. Conversely, only 12 percent of consumers purchasing a hybrid had an average household income of the same level. *For this analysis, hybrid vehicles were defined as any vehicle with multiple power alternatives. To view the full infographic, visit http://ex.pn/1k4a0BT

The Information Age transformed our way of life.  It gives us new ways to communicate, have instant access to resources and the power to share information freely. Unfortunately, the luxuries of this new age pose unique threats to consumers that were inconceivable in years past. It opens doors for thieves to capitalize on unsuspecting and innocent consumers.  Fraud and identity theft is a booming business. Fraud and identity theft are important concerns for people today. Understanding the tools available to help you prevent fraud and recover from it can help you reduce concerns about your personal information being compromised. Experian understands its responsibility to educate consumers and develop resources that help consumers protect their information and take the necessary steps to resolve a crime against you. Two options available for identity theft victims to protect their credit are fraud alerts and security freezes. It is important to note that security freezes are an extreme measure. If you are planning to apply for credit or other services such as cellular telephone, rent, or utilities in the near future freezing your credit may not be advisable.

More than 20 years ago, Experian became the first credit bureau to create a consumer education program. We started the program because we wanted to arm consumers with the right information and resources to help them understand the fundamentals of credit management and the benefits of having good credit. Good credit provides attractive mortgage options, better interest rates on cars, and the ability to start a new business venture. A credit score is checked when you are shopping for these types of loans. A credit score turns credit report information into a number reflecting the risk of lending to you. Regularly checking your credit report ensures the most accurate depiction of your credit history to these lenders. An error in your credit file can potentially affect your credit score or can delay the process of securing the loan or obtaining the best interest rates. Should you find an error in your credit report, please follow the steps below or check out this video to help you in the dispute process. Be sure to have a current copy of your Experian credit report before you begin. For instructions on how to check your credit report, please click here.

Getting a copy of your credit report is the easiest first step to take control of your finances. A personal credit report contains details about your financial behavior and identification information. It is an easy-to-read summary of your credit accounts and total debt—both existing balances and available limits. Under federal law you are entitled to a copy of your credit report every twelve months. To obtain your credit report go to www.annualcreditreport.com. Check out this video and guide below with step by step instructions on how to check your credit report.

Did you know that April is the official month for promoting financial literacy? Being aware of your credit and where you stand is important all year long, but the next 30 days will be dedicated specifically to educating consumers on all aspects of personal finance from managing your credit, paying off debt and saving for your first home or child’s secondary education to how to invest and plan well for retirement. We know how these topics can be overwhelming and intimidating. It’s one of the reasons that our weekly #CreditChat on twitter and Ask Experian column focuses on these subjects all year round. We want to give consumers the right resources and access to experts in an effort to help consumers change their financial behavior – that is part of our commitment. Join us all month long in our special Google+ hangouts, tweet chats (#CreditChat), and visit our blog for some exciting new resources created just for you! April 2 – #CreditChat with the National Foundation for Credit Counseling April 4 – Google+ Hangout Q&A with Rod Griffin April 9 – #Creditchat with the Financial Literacy Congressional Caucus April 11 – Google+ Hangout Q&A with Rod Griffin and Becky Frost April 16 – #CreditChat with the National Jump$tart Coalition April 18 – Google+ Hangout Q&A with Maxine Sweet and Rod Griffin April 23 – #CreditChat with Betterment April 25 – Google+ Hangout Q&A with Maxine Sweet and Rod Griffin April 29 – Google+ Hangout Q&A with the National Jump$tart Coalition April 30 – #CreditChat with AARP