Steve Platt, Executive VP of Fraud & Identity Management “In the 21st century digital age, where everything is mobile and online, delivering a seamless consumer experience while protecting businesses against fraud is a major challenge,” explains Steve Platt, Executive VP of Fraud and Identity Management. Platt believes that passwords alone are insufficient to safeguard consumers and the companies where they transact. “We provide our clients with a variety of information in real time to advise on whether or not to proceed with a transaction. This feature is a core differentiator for Experian,” says Platt. Back in June, Experian launched CrossCore™, the fraud and identity industry’s first open platform designed to catch fraud faster, improve compliance and enhance the customer experience.
CrossCore gives companies an easier way to connect any new or existing tools and systems in one place. This “plug-and-play” capability allows companies to connect multiple disparate services through a common access point that then enables a layered approach to managing risks. CrossCore includes powerful workflow and strategy design capabilities that allow fraud and compliance teams to rapidly create and adapt strategies based on evolving threats and business needs.
A client of Experian was recently at a very high risk of malicious activities for new accounts opened by its customers due to vulnerability in their online channel. Experian quickly provided the client with a solution that collected a combination of data from customers and also gathered insights gathered from devices that were being used to open up those accounts.
The combination of our products and capabilities together help our clients capitalize on the opportunities they have
The information allowed Experian to identify requests from fraudsters and through subsequent profiling, it was able to bring out specifics about the devices and look for hidden patterns and settings that revealed the possibility of any form of fraudulent activity.
“The technology that we provide to our clients averts the risk of attacks,” says Platt. Experian is also making significant investments in its product portfolio to bring new innovations to its client base. “The combination of all of our products and capabilities really helps our clients capitalize on the opportunities they have while protecting them against security threats,” concludes Platt.
Experian, whose corporate headquarters are based in Dublin with additional offices in the UK, US, and Brazil, is a global leader in information services. The firm’s foundations in data and analytics with industry leading technology helps organizations around the world to manage credit risk, prevent fraud, target marketing offers, and automate decision making. Using its comprehensive understanding of individuals, markets, and economies, Experian helps companies to find, develop, and manage customer relationships to make their businesses more profitable. Also, the firm promotes greater financial health and aids clients to identify new business opportunities by enabling them to understand, manage, and protect their personal information.
• Millions of people reached since 2017
LONDON: Experian announced the return of Credit Awareness Week in partnership with financial services publication, Credit Strategy.
Now in its seventh year, the campaign aims to help improve people’s understanding about how credit information works, and dispel common myths and misconceptions around credit scores and reports. Since its original launch in 2017, the campaign has reached millions of consumers in the UK.
To mark this year’s Credit Awareness Week, Experian has created some exciting new educational content that aims to improve public awareness and understanding of the credit system.
This includes collaborations with several TikTok influencers which is expected to reach nearly 400,000 consumers with valuable tips and guidance to help them manage their money with confidence.
This year’s event is especially significant, as people struggle financially against a backdrop of rising inflation and the strain of rising living costs. Experian analysis has shown that household discretionary spending power has reduced by 10% and 61% of consumers acknowledge that cost-of-living crisis is having a significant impact on their finances.
Jose Luiz Rossi, Managing Director UK&I at Experian, said: “It’s no secret that there’s a significant squeeze on people’s spending, with consumers being forced into managing their money carefully. Although the UK has a very well-educated population, there are still a lot of people who lack confidence when it comes to managing their finances. Understanding credit is a key part of that.
“Through Experian’s ongoing financial education work, including our seventh year of supporting the Credit Awareness Week campaign, we remain committed to helping more people improve their financial health.”
Credit Awareness Week is the latest in a series of financial education campaigns launched by Experian to help consumers, and businesses, through recent economic uncertainty.
In 2022, as part of its United For Financial Health initiative, the UK business teamed up with the influential voices of Young Money blogger, Iona Bain, and celebrity footballer Bayo Akinfenwa promoting credit education and helping young people take control of their financial health. The campaign reached over 1 million 18–25-year-olds and over 3 million people in total.
In addition, Experian’s #EaseTheSqueeze campaign has been helping people manage their financial health better, with tips and guidance about how people can take control of their finances. So far, it’s reached 8.5 million people in the UK.