EXPN

Experian Fraud Score Aims to Boost Fraud Prevention in the UK

Retrieved on: 
Wednesday, September 28, 2022

Experian has announced the launch of Experian Fraud Score, a next generation fraud prevention solution which will help businesses of all shapes and sizes to detect fraud at the point of application, transaction and throughout the customer lifecycle.

Key Points: 
  • Experian has announced the launch of Experian Fraud Score, a next generation fraud prevention solution which will help businesses of all shapes and sizes to detect fraud at the point of application, transaction and throughout the customer lifecycle.
  • The service is independent of any data consortium membership, allowing organisations to have access to an advanced fraud prevention score out-of-the-box.
  • Eduardo Castro, Managing Director, Identity and Fraud, Experian UK&I, said: Machine Learning is the foundation on which new fraud prevention systems are being built and thanks to Experian Fraud Score, new and emerging businesses as well as established ones can leverage the benefits.
  • Delivered via the award-winning CrossCore platform, Experian Fraud Score will empower new and smaller businesses to establish their fraud prevention systems simply and help them meet any compliance requirements too.

THE SINGLETON FOUNDATION FOR FINANCIAL LITERACY & ENTREPRENEURSHIP LAUNCHES HEARTBROKE ON ITS MILLION STORIES MEDIA PLATFORM, SPONSORED BY EXPERIAN

Retrieved on: 
Tuesday, September 27, 2022

We are so excited to work with the Singleton Foundation and be part of helping couples in their financial health journey.

Key Points: 
  • We are so excited to work with the Singleton Foundation and be part of helping couples in their financial health journey.
  • "Our goal has always been to engage and raise the financial literacy skills of our viewers with entertainment.
  • The mission of The Singleton Foundation for Financial Literacy & Entrepreneurship is to inspire entrepreneurship and to make financial competence fun, engaging and accessible to all.
  • Our goal is to help give everyone the financial skills they need to better manage their lives and their businesses.

Equifax, Experian and TransUnion Extend Free Weekly Credit Reports in the U.S. Through 2023

Retrieved on: 
Friday, September 23, 2022

The three nationwide credit reporting agencies Equifax (NYSE:EFX), Experian (LON:EXPN) and TransUnion (NYSE:TRU) are taking joint action to continue offering free weekly credit reports to consumers in the United States through the end of 2023.

Key Points: 
  • The three nationwide credit reporting agencies Equifax (NYSE:EFX), Experian (LON:EXPN) and TransUnion (NYSE:TRU) are taking joint action to continue offering free weekly credit reports to consumers in the United States through the end of 2023.
  • View the full release here: https://www.businesswire.com/news/home/20220923005030/en/
    The companies' CEOs provided a joint statement on the decision to extend free weekly credit reports through 2023.
  • Consumer credit reports are a factual record of credit activity and payment history used by lenders, creditors, service providers and other businesses to extend financial opportunities and other offers to people.
  • Consumers can access their free weekly credit reports from each of the three credit reporting agencies at www.annualcreditreport.com .

Equifax, Experian and TransUnion Extend Free Weekly Credit Reports in the U.S. Through 2023

Retrieved on: 
Friday, September 23, 2022

ATLANTA and COSTA MESA, Calif. and CHICAGO, Sept. 23, 2022 /PRNewswire/ -- The three nationwide credit reporting agencies – Equifax® (NYSE:EFX), Experian (LON:EXPN) and TransUnion (NYSE:TRU) – are taking joint action to continue offering free weekly credit reports to consumers in the United States through the end of 2023. This benefit will help consumers manage their financial health during a period of rising inflation and unprecedented economic uncertainty coming out of the COVID-19 pandemic.

Key Points: 
  • The companies' CEOs provided a joint statement on the decision to extend free weekly credit reports through 2023.
  • Credit reports play an important role in financial health, and providing weekly reports for consumers at no charge is another way that we can support financial education and stability for people across the U.S. at this critical time."
  • Consumer credit reports are a factual record of credit activity and payment history used by lenders, creditors, service providers and other businesses to extend financial opportunities and other offers to people.
  • Consumers can access their free weekly credit reports from each of the three credit reporting agencies at www.annualcreditreport.com .

Equifax, Experian and TransUnion Extend Free Weekly Credit Reports in the U.S. Through 2023

Retrieved on: 
Friday, September 23, 2022

The companies' CEOs provided a joint statement on the decision to extend free weekly credit reports through 2023.

Key Points: 
  • The companies' CEOs provided a joint statement on the decision to extend free weekly credit reports through 2023.
  • Credit reports play an important role in financial health, and providing weekly reports for consumers at no charge is another way that we can support financial education and stability for people across the U.S. at this critical time.
  • Consumer credit reports are a factual record of credit activity and payment history used by lenders, creditors, service providers and other businesses to extend financial opportunities and other offers to people.
  • Consumers can access their free weekly credit reports from each of the three credit reporting agencies at www.annualcreditreport.com .

New Electric Vehicle Registrations Grew More Than 250% Over the Last Five Years, According to New Experian Data

Retrieved on: 
Thursday, September 22, 2022

This number may seem small compared to the 284 million vehicles on the road, but data shows it is growing exponentially.

Key Points: 
  • This number may seem small compared to the 284 million vehicles on the road, but data shows it is growing exponentially.
  • Additionally, new EV registrations continue to ramp up, comprising 5.7% of all new vehicle registrations in Q2 2022, up from 1.5% in Q2 2018.
  • For example, SUVs comprised just 17.84% of new EV registrations in Q2 2018, with sedans making up 81.89%.
  • Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates.

S&P/EXPERIAN CONSUMER CREDIT DEFAULT INDICES SHOW COMPOSITE AND FIRST MORTGAGE RATES STEADY IN AUGUST 2022

Retrieved on: 
Tuesday, September 20, 2022

NEW YORK, Sept. 20, 2022 /PRNewswire/ -- S&P Dow Jones Indices and Experian released today data through August 2022 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was unchanged at 0.57%. The bank card default rate fell three basis points to 2.41%. The auto loan default rate was six basis points higher at 0.72% while the first mortgage default rate was unchanged at 0.42%.

Key Points: 
  • Jointly developed by S&P Dow Jones Indices LLC and Experian, the S&P/Experian Consumer Credit Default Indices are published on the third Tuesday of each month at 9:00 am ET.
  • They are constructed to track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien.
  • The Indices are calculated based on data extracted from Experian's consumer credit database.
  • More assets are invested in products based on our indices than products based on indices from any other provider in the world.

Experian Named to Top 10 in IDC FinTech Rankings Top 100

Retrieved on: 
Thursday, September 15, 2022

Experian has ranked #9 on the newly announced 2022 IDC FinTech Ranking, jumping from its previous position at #11.

Key Points: 
  • Experian has ranked #9 on the newly announced 2022 IDC FinTech Ranking, jumping from its previous position at #11.
  • The FinTech Rankings is an annual ranking which highlights the top 100 global providers of financial technology by revenue.
  • Placement in the top 10 of IDC FinTech Rankings shows Experians record of innovating solutions that power financial institutions and deliver benefits to consumers, commented Raymond Pucci, Research Director at IDC Financial Insights.
  • We congratulate Experian for being ranked #9 in the 2022 IDC FinTech Rankings Top 100 list.

Experian Helps Consumers Use Positive Rent Payments to Build Credit

Retrieved on: 
Wednesday, September 7, 2022

In a move to help millions of U.S. renters improve their credit scores, Experian today launched a beta release of Experian Boost1 that allows consumers to contribute qualifying, positive residential rent payments directly to their Experian credit file.

Key Points: 
  • In a move to help millions of U.S. renters improve their credit scores, Experian today launched a beta release of Experian Boost1 that allows consumers to contribute qualifying, positive residential rent payments directly to their Experian credit file.
  • View the full release here: https://www.businesswire.com/news/home/20220907005460/en/
    Experian Helps Consumers Use Positive Rent Payments to Build Credit (Photo: Business Wire)
    Experian Boost is a gamechanger and were excited to launch the first phase of this new enhancement that will allow consumers to instantly add rental payments to their Experian credit file, said Jeff Softley, president Direct to Consumer, Experian Consumer Services.
  • Based on preliminary analysis3 highlighting the potential impact of positive residential rent payment reporting through Experian Boost, Experian estimates:
    An average improvement of nearly 19 points for new users who see a FICO Score 8 improvement when positive rent payments are combined with other eligible payments for Experian Boost, such as telecom, utilities and video streaming services
    Reporting positive rent payments through Experian Boost: how it works
    With the beta release, consumers who rent from over 1,500 of some of the largest U.S.-based property management companies, and who pay their rent directly to their property management company or through platforms like AppFolio Property Management, Buildium, Yardi Breeze and Zillow Rental Manager, can add qualifying positive rent payments to their Experian credit file through Experian Boost.
  • Experian was the first major credit reporting agency to include rent payments in consumer credit reports and has a longstanding history supporting the use of positive rent payments.

Consumers Shifting Back to Used Vehicles as Inventory Shortages Continue

Retrieved on: 
Thursday, August 25, 2022

As the automotive market continues to face inventory shortages, consumers are shifting back to the used vehicle market.

Key Points: 
  • As the automotive market continues to face inventory shortages, consumers are shifting back to the used vehicle market.
  • Between the inventory shortage and rising vehicle costs, consumers are looking to make the most cost-effective decision, which is often a used vehicle, said Melinda Zabritski, Experians senior director of automotive financial solutions.
  • The shift to used comes amid rising average vehicle loan amounts and monthly payments for both new and used vehicles.
  • Credit unions achieved growth in both new and used vehicle financing, though the growth was more pronounced in the used vehicle space.