Tag: experian boost

FY19 proved to be a great year for Experian – one of our best ever.  We just announced results, with organic revenue growth of 9%.  But that is only part of our story. Behind the company’s success is a strategy that puts consumers first. We have looked to respond to the challenge of financial exclusion around the world, by using data and innovation to bring more people into the mainstream financial system. And we have responded to rapid digitisation of the world by helping organisations of all shapes and sizes to respond and adapt, all through the power of data. Fintech and digital disruption have revolutionised the way people engage with their finances. At Experian we help to speed up applications for credit, check for fraudulent impersonators and improve access to credit at fair and affordable rates. During the course of this financial year, we delivered some major and exciting milestones in our markets: In North America, we launched Experian Boost, an industry-first, game changing offer that is reshaping the credit landscape by putting individuals in control of their credit score. In the UK, we are introducing a range of new innovations, Ascend, Credit 3D and Experian One, which deploy our advanced analytics, predictive data and SaaS-based platforms. We were the first in our industry to be granted approval to supply Open Banking and PSD2 services by the Financial Conduct Authority and we have rolled out new services which help to assess whether loans are affordable. In Asia Pacific, we are building out our data Marketplaces with our strategic investment and partnerships with C88 in Indonesia and Jirnexu in Malaysia. This move will help to increase levels of financial inclusion in the region by improving matching to eligible credit products. In South Africa, we agreed to the acquisition of Compuscan, which will mean we are better positioned to serve the people and businesses of Africa and be an enabler of growth in consumer and business credit, identity management and financial inclusion. To sum up, the financial performance is strong.  Our commitment to using data and analytics to help consumers, businesses and society at large is even stronger.

Today marks a notable milestone in our company’s history and for consumers. Today we officially launched Experian Boost, a free tool that, for the first time, will allow millions of consumers to add positive payment history directly into their credit file for an opportunity to instantly increase their credit score. For the past several years, we have been working to develop new products and innovations that will disrupt the credit industry and help improve the financial lives of consumers. This commitment to financial inclusion has defined us and created a real sense of purpose for everyone who works here – and that purpose is realized with the launch of Experian Boost today. There are more than 100 million Americans who don't have access to credit today. A low credit score, due to a thin file or incomplete information, may force these consumers to rely on high interest credit cards and loans. The fact that many of these consumers consistently and responsibly pay cell phone and utility bills on time every month hasn’t seemed to matter. At Experian, we know that’s not right. A good credit score is a gatekeeper to better financial opportunities. We need to develop products and services that make achieving and maintaining a good score easier, not harder.  As the consumer’s bureau, we want to ensure that as many people as possible can access and participate in the financial system, and we believe everyone deserves a fair shot at achieving their financial dreams. We have a fundamental mission that is shared by our colleagues around the world: to strive to be a champion for the consumer. With Experian Boost, we're bringing that mission to life and I couldn’t be prouder. Many of our colleagues at Experian worked tirelessly over the last few years to make this day a reality. To everyone who’s played a part, I offer my very heartfelt thanks. It’s truly a great day to be a part of Experian, and we know there will be a lot of great days ahead for all the consumers who will benefit from having their credit score truly reflect who they are. To find out more about the Experian Boost, please visit experian.com/boost.