Articles from Experian

As Valentine’s Day approaches, new research1 released today from Experian® uncovers the critical role of financial transparency and communication in sustaining romantic relationships. According to the research, 27% of Americans have had relationships end due to their own or their partner’s financial issues.

Experian’s generative AI-enabled tool, Experian Assistant, has won the 2025 BIG Innovation Award in the Products for Financial Services category. Recognizing trailblazers across industries since 2011, the award celebrates exceptional innovation and the value it brings to a recipient’s clients, stakeholders and community.

In a move to help employers streamline the onboarding process for new hires and mitigate compliance risk, Experian® has announced the launch of a new virtual Section 2 service to aid in the completion of Form I-9. Experian’s highly trained experts and government-approved service make the accurate completion of Form I-9 easier and more efficient for both employers and their new hires.

Experian® today released its annual Future of Fraud Forecast, revealing five emerging fraud threats that could challenge businesses and consumers in 2025. This year’s predictions show that fraudsters will continue to double down on the digital landscape and leverage Generative AI (GenAI) to commit sophisticated crimes at a rapid pace.

To help more employers across the U.S. maintain compliance and prevent costly errors, Experian® today announced it has achieved Workday Certified Integration status for its innovative I-9 Management solution. With this new integration, organizations leveraging Workday Human Capital Management (HCM) can access Experian’s solution to streamline Form I-9 processes – a key component of employee onboarding.

Experian is kicking off the new year with an ad campaign featuring two top professional football players and their partners, aiming to inspire Americans to tackle their finances in 2025. The campaign, titled "Tackling Life by Experian," features quarterback Jordan Love and his fiancé, Ronika Stone, and All-Pro linebacker Fred Warner and his wife, Sydney, who highlight how people could save time and money with Experian by canceling unwanted subscriptions, checking their credit, and more.

Today, Experian announced its 2024 Global Identity & Fraud Report that provides a comprehensive view of the consumer and business response to the latest fraud patterns and fraud‑mitigation strategies in the worldwide financial services sector. The report offers combined insights from more than 1,000 businesses and fraud leaders globally, as well as 4,000 consumers, focusing on fraud management and the digital experience.

Experian is celebrating the one-year anniversary of The Legacy League Game Show™, a groundbreaking, high-energy, interactive event designed to educate and engage young adults in financial literacy. The main program within the B.A.L.L. for Life™ initiative, the game show combines the excitement of trivia and audience participation in a competition where students face off against their peers from Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs), testing their knowledge about credit and money matters.

Experian®, a global data and technology company, today announced a new payroll integration with UKG, a leading provider of HR, payroll, workforce management and culture solutions. With more than 350 technology and services partners, UKG provides one of the largest and most collaborative partner ecosystems in the HCM industry focused on creating better employee experiences and improving business outcomes. The Experian and UKG integration is set to reshape the way employers manage essential workforce operations by enhancing efficiency, security and cost-effectiveness.

As consumers assess their budgets for the holiday shopping season, they can utilize credit cards even more strategically this year. Experian offers a credit card marketplace with No Ding Decline offers, so consumers can apply for credit cards without hurting their FICO® Scorei if they aren’t initially approvedii.

Following several quarters of incremental growth, consumer interest in electric vehicles (EVs) re-emerged in the third quarter of 2024. According to Experian’s (LSE: EXPN) State of the Automotive Finance Market Report: Q3 2024, EVs accounted for 10.06% of new vehicle financing during the quarter—growing more than 30% compared to the previous year.

Experian® — the global data and technology company — announced today it has acquired Audigent, a leading data activation and identity platform in the advertising industry.

Experian today announced its Ascend Fraud Sandbox won the Platinum Award for Identity Verification Innovation in Juniper’s 2024 Future of Digital Awards, which recognizes the vendors that are revolutionizing today’s financial landscape and shaping tomorrow’s innovations. The Identity Verification Innovation category honors the leading players in the anti-fraud, security and fraud prevention markets.

When it comes to cybercriminals and threat vectors, expect the unexpected. Experian’s 12th annual Data Breach Industry Forecast includes five predictions for 2025 covering a range of potential trends with AI at the forefront including growing sources of threats such as AI-savvy teens and fresh targets for hackers of AI power centers.

Holiday shoppers are making their gift lists and checking them twice, but most are feeling the temptation to overspend before they even start their shopping. According to a national consumer survey from Experian, 89 percent of consumers are tempted to spend more than they should even though 68 percent said inflation is affecting their holiday shopping.

Experian today announced it was named one of the World’s Best Workplaces™ 2024 by Fortune and Great Place to Work®, which recognises a select 25 global companies that are building the best workplace cultures in the world. The honour highlights Experian’s people-first workplace culture that promotes inclusivity, fosters collaboration and innovation, and prioritises team member well-being, personal growth, and advancement.

New Experian® research released today highlights a strong interest among U.S. consumers in using generative AI for personal financial management. The global technology and data company surveyed consumers across the country to understand current perceptions about generative AI and how frequently Americans are tapping into the technology to manage their personal finances.

At this week’s Money 20/20 show in Las Vegas, Experian® today announced the launch of Experian Assistant, a new generative AI-enabled solution that greatly accelerates the modeling lifecycle, slashing model-development timelines from months to days and — in some cases — hours. Integrated with Experian Ascend Technology Platform™, this transformative solution empowers users to further leverage their data for analytics faster and with less effort than ever before.

To bring attention to the need to increase financial literacy and empowerment among Hispanics, Experian is relieving $10 million in consumer debt to help Hispanics nationwide on the road to financial freedom. Additionally, Experian is partnering with NBCUniversal Telemundo at the 2024 Billboard Latin Music Awards to further promote the debt relief initiative and empower the Hispanic community. This partnership includes a collaboration with multi-platinum, award-winning singer and songwriter, Prince Royce.

As part of its mission of Financial Power to All™, Experian is relieving $10 million of consumer debt for more than 5,000 Hispanics nationwide. This initiative is happening as high numbers of Hispanics lack access to bank accounts and credit, and report feeling the least financial security compared to other populationsi.

With a wider range of electric vehicle (EV) models being introduced, the EV landscape is beginning to shift. According to Experian’s Automotive Consumer Trends Report: Q2 2024, non-luxury EVs are slowly making up more of the market, growing from 22.7% last year to 26.6% in Q2 2024. Meanwhile, the percentage of exotic and luxury models declined from 77.3% to 73.4% year-over-year.

The struggle with claim denials in the healthcare industry continues to get worse, and a regression in technology adoption to solve issues is adding fuel to the fire, according to the Experian Health 2024 State of Claims survey. Compared to the same study conducted in 2022, almost 3 out of 4 providers surveyed say claim denials are increasing, showing an uptick of 31 percent while confidence levels in leveraging automation and artificial intelligence dropped by more than 25 percent.

Experian’s Sentinel™ Commercial Entity Fraud Suite received a silver medal for "Best Know Your Customer/Business (KYC/KYB) Innovation" in the 2024 Impact Awards in AML (anti-money laundering).The award was given by Datos Insights, a global advisory firm providing mission-critical insights to the Financial Services industry.

Experian has been ranked 7th on the 2024 IDC FinTech Rankings, placing in the top 10 providers for the third consecutive year. The FinTech Rankings evaluate the top 100 providers of financial technology based on 2023 calendar year revenues from the financial services and FinTech industries. In related news, Experian is also an IDC Real Results Award winner, ranking in the top spot for Bank Deposit Transformation.

Experian North America has been named to the prestigious Fortune Best Workplaces in Technology™ 2024 rankings. This honor spotlights Experian’s high-performing workplace culture that promotes innovation, inclusivity and equity, and team member well-being, growth and advancement.

As consumers find ways to navigate the ever-evolving automotive finance market, leasing is re-emerging as an optimal choice for those seeking flexibility and affordability. According to Experian’s (LSE: EXPN) State of the Automotive Finance Market Report: Q2 2024, leasing witnessed a notable increase—reaching 25.35%, up from 21.14% last year and 19.30% in Q2 2022.

Inflation has impacted auto insurance since last year increasing by approximately 20 percenti. With Experian, consumers never have to worry about shopping for better rates with its Insurance Marketplace and new Ongoing Rate Monitoring feature. Consumers who utilize the free marketplace will now receive alerts on an ongoing basis if there is a better rate on their auto insurance policy taking the hassle out of comparison shopping.

Experian has been recognized as a Leader by Liminal, a leading market and competitive intelligence company, in its 2024 Link Index for Account Takeover (ATO) Prevention in Banking. The report provides a detailed analysis of the ATO prevention market and identifies the top companies and emerging players at the forefront of innovation in authentication, fraud prevention, and identity.

Experian® , a global data and technology company, today announced its Compliance Library solution has been recognized as a 2024 Top HR Product of the Year by Human Resource Executive® and the HR Technology Conference.

Experian® today released its 2024 U.S. Identity and Fraud Report revealing that generative AI (Gen AI), deepfakes and cybercrime are critical threats putting intensifying pressures on businesses. The 9th annual Experian Identity and Fraud Report provides valuable insights into emerging fraud trends such as these, as well as shifting consumer expectations.

Experian® — the global data and technology company — announced today that it has acquired NeuroID, an industry leader in behavioral analytics. NeuroID’s modern and frictionless capabilities amplify Experian’s fraud risk suite by providing a new layer of insight into digital behavioral signals and analytics observed for both new and returning users throughout the customer lifecycle, including account openings, logins and transactions.

Experian, a global leader in data and technology, announced its inclusion in the esteemed list of ‘Top Employers for Tech Talent’ in India (Top 25), and the United States (Top 40) by Everest Group for the second consecutive year. This recognition marks another significant achievement following ‘Experian India’s Great Mid-size Workplaces 2024: Top 10’ award by Great Place to Work in June 2024, in addition to Experian North America being named to Fortune’s 2024 100 Best Companies to Work For list for the fifth consecutive year.

Experian has once again been included in the Center for Financial Professionals (CeFPro®) list of the world’s Top 20 Fintech companies, rising in 2024 to the No. 13 position (up from No. 15 in 2023). The company was also ranked No. 1 in the Identity Fraud category.

The following is an opinion editorial provided by Sandy Anderson, Experian’s executive vice president of the data office, operations, governance and privacy:

In a move to improve the candidate experience, foster a more diverse workforce and help employers enhance their tax benefits, Experian® today announced it has achieved Workday Certified Integration status for its Work Opportunity Tax Credit (WOTC) solution. Workday, Inc. (NASDAQWDAY) is a leading provider of solutions to help organizations manage their people and money. With this integration, organizations leveraging Workday Human Capital Management (HCM) can access Experian’s real-time WOTC solution, which uses a concise survey process and has secured over $1 billion in tax credits for employers.

While many Americansi are planning to travel and take a road trip this summer, inflation and high costs on essentials may put a damper on their fun in the sun. Some expenses like gas have cooled, but others have increased, with automotive insurance leading the way climbing more than 20 percentii in the last year. To help consumers with their overall financial health, Experian offers free cost-cutting tools including the Experian insurance marketplace that could save consumers more than $1,100iii on an auto and home insurance policy bundle, or more than $800iv on an automotive insurance policy alone.

With new vehicle inventory rebounding and some manufacturers continuing to offer incentives, consumers are shifting back into the new vehicle market—resulting in a notable impact on lender market share. According to Experian’s State of the Automotive Finance Market Report: Q1 2024, captives’ market share for new vehicle financing jumped to 61.75%, its highest level since 2010. Meanwhile, banks declined from 23.36% to 20.65% year-over-year and credit unions went from 17.02% to 9.69% over the same period.

As companies around the globe grapple with an accelerated pace of change and seek ways to optimize their businesses, Experian® is ushering in a new era of simplification, scalability and automation through the debut of new enhancements to its cloud-based Experian Ascend Technology Platform™. Now, Experian’s award-winning platform brings together software tools for analytics, credit decisioning and fraud into a single interface — simplifying the deployment of analytical models and enabling businesses to optimize their practices more frequently, achieving greater efficacy with lower investment of time and money.

In recognition of Experian Employer Services’ commitment to provide employers across the country with best-in-class solutions to serve their employees, the company was presented with a 2024 HR Tech Award from Lighthouse Research & Advisory for its income and employment verification fulfillment solution. Experian’s product was recognized as the Best Comprehensive Solution for its ability to solve for problems facing employers in today’s environment.

Experian® today announced the launch of Cashflow Attributes™, a groundbreaking solution to help expand fair and affordable access to credit, particularly for thin-file and credit invisible consumers. With over 900 income, cashflow and affordability attributes, Experian’s cashflow insights are available now and allow lenders to seamlessly integrate banking data into their decision-making*.

Lack of financial knowledge is leading to costly financial missteps for many Americans according to new research1 released today by Experian®. A survey of 2,000 adults across the U.S. revealed 3 in 5 adults feel their limited understanding of credit and personal finance has led them to make financial mistakes, with 60% of this group stating these mistakes have cost them $1,000 or more.

Experian announced that the company was named a Leader in the IDC MarketScape: Worldwide Enterprise Fraud Solutions 2024 Vendor Assessment (doc #US51939124, March 2024). The report evaluates each vendor’s advanced fraud detection capabilities, alignment with customer needs, and future strategy and roadmap for innovation.

In recognition of Experian Employer Services’ best in class unemployment management solution, the National Association of State Workforce Agencies (NASWA) recently presented the company with its valued Outstanding Performance Award. The honor recognizes Experian’s dedication to reducing fraud and promoting unemployment insurance (UI) integrity through their commitment to effectively using the State Information Data Exchange System (SIDES). The award was presented at NASWA’s annual SIDES Seminar in Pittsburgh.

For the fifth consecutive year, Fortune has named Experian North America to its 100 Best Companies to Work For® list. This recognition highlights the company’s purpose-driven culture that prioritizes employee diversity, equity, and inclusivity.

With a wider range of models being introduced year after year, electric vehicles (EVs) have gained more traction from consumers in the market for a new vehicle. According to Experian’s State of the Automotive Finance Market Report: Q4 2023, EVs comprised 8.6% of total new retail transactions, up from 7.1% in Q4 2022. Digging a bit deeper, data shows 44.8% of new EV retail transactions were loans, while 30.7% were leases.

In a move towards greater transparency and responsible credit reporting in the buy now, pay later (BNPL) industry, Experian® today announced it will now include “pay-in-4” BNPL loan information from Apple Pay Later on consumers’ credit reports, making Apple the first major BNPL provider to fully furnish “pay-in-4” loan information and payment history directly to the credit reporting agency.

Experian® today released its 2024 Future of Fraud Forecast, which identifies five fraud threats consumers and businesses should be cautious of this year. Today’s fraudsters are sophisticated and will deploy the latest technology, such as generative artificial intelligence, to dupe consumers and businesses.

With more of the vehicle buying journey shifting online and vehicle prices remaining at elevated levels, fraudsters are targeting the automotive industry at an increasing rate. To address the rising threat, Experian® today announced the launch of Fraud Protect™, a web-based application that helps automotive dealers detect and prevent fraud while maintaining a positive shopping experience for the consumer.

From high levels of credit card debt to admitted challenges with overspending, football fans could benefit from some updated financial plays ahead of the Big Game according to new research released today by Experian®.

With the holiday season in the rearview mirror, many consumers are assessing their finances and making money moves to reach their financial goals. Saving money in 2024 is the top resolution for 51 percent of respondentsi, according to an Experian national consumer survey. As part of its continuing innovation to meet the financial needs of consumers, Experian has launched a free savings scanii that identifies opportunities to save on eligible recurring bills and paid subscriptions.

While tried and true tactics like phishing and malware are here to stay, there are always new approaches to watch out for in the cybersecurity space. Experian’s 11th annual Data Breach Industry Forecast includes six predictions for 2024 that focus a global lens on what savvy moves cybercriminals from near and far will potentially make to penetrate organizations and reap rewards.

In an effort to help lenders verify income and employment information quicker and easier, Experian® today announced a new integration with Dark Matter Technologies (Dark Matter). Experian clients using the Empower® loan origination system (LOS) by Dark Matter or those with access to its Exchange℠ service network can now easily leverage Experian Verify™, which provides instant access to verified income and employment information from Experian’s growing network of payroll and proprietary data.

Experian® today announced NeuroID’s behavioral analytics is now available through Experian’s fraud prevention solutions, including CrossCore® and Precise ID®. NeuroID’s unique behavioral analytics solution provides robust, frictionless fraud prevention capabilities that can effectively combat identity theft, deter fraud ring attacks and protect against AI-enabled bots while ensuring a smoother experience for real customers.

With affordability remaining top of mind throughout the automotive industry, new data shows the average loan amount for new and used vehicles decreased in Q3 2023, an optimistic sign that things are continuing to level out for vehicle shoppers.

Experian, the global information services company, announces it has acquired Wave HDC, a healthcare technology leader that offers AI-enhanced data curation solutions to identify unknown insurance benefits coverage and critical patient demographics at the start of a patient’s healthcare journey. The acquisition bolsters the Experian Health business portfolio with more comprehensive and faster healthcare coverage identification and automation capabilities.

Over the next year, market disruptions, including advancement in artificial intelligence (AI), rising operational costs, depleting skill shortages and shifting consumer expectations, are expected to increase. As a result, organizations are investing in high-quality data to stay ahead of the ever-changing technology landscape, according to new Experian® research.

With rising vehicle prices and the automotive industry relying more heavily on digital retailing, lenders are experiencing an uptick in fraudulent loan applications. As a result, Experian® today introduced the Hunter Automotive Fraud Alliance©, a collaborative data network designed to help automotive lenders in the United States share real-time fraud intelligence to minimize fraud risk, while maintaining a positive customer experience.

A staggering 68% of U.S. adults feel they have suffered from, or are currently suffering from, financial trauma according to new research released today by Experian®. The research sheds light on the prevalence of negative feelings and angst related to financial matters, with approximately 65% of adults admitting to experiencing negative thoughts, flashbacks and anxiety when dealing with financial issues.

Amid tailgating and touchdowns, football fans are planning to blitz their budgets and spend $743 on average this season on football-related expenses, according to a national survey by Experian®1. To avoid a financial fumble, Experian is helping consumers learn more about building credit without debt2 and getting the most out of their money launching a campaign with two-time professional football champion Travis Kelce of the Kansas City Chiefs. The campaign will generate awareness about the new Experian Smart Money™ Digital Checking Account & Debit Card3 that embeds the game-changing feature Experian Boost®4.

Continuing its trailblazing innovation to put debt-free, credit-building power in consumers’ hands, today Experian® launched the Experian Smart Money™ Digital Checking Account & Debit Card1 that embeds the first-of-its-kind feature Experian Boost®2. Now it will be even more convenient for consumers to use Experian’s FICO® Score3-boosting feature and improve their credit profile, while also benefiting from an industry-leading suite of financial tools all in one place.

As electric vehicle (EV) registrations rise across the country, Tesla continues to capture the majority of market share. According to Experian’s Automotive Consumer Trends Report: Q2 2023, four of the top five models in the luxury EV segment were Tesla, with the Model Y making up 47.36% and the Model 3 coming in second at 27.30%, followed by the Model X (4.42%), the BMW i4 (2.82%), and the Model S (2.53%).

Experian® today announced its recognition as a market leader for compliance and fraud prevention capabilities and market execution according to Liminal’s newly released Link™ Index Report for Account Opening in Financial Services. The detailed report evaluated 150 vendors in the financial sector and identified 32 companies as market leaders in compliance and fraud prevention for account opening.

Experian has been ranked 6th on the 2023 IDC FinTech Rankings, jumping from last year’s position at 9th. The FinTech Rankings evaluate the top 100 providers of financial technology based on 2022 calendar year revenues from the financial services and FinTech industries. In addition, Experian was recognized as an IDC Fintech Top 100 Fast Track FinTech recipient, given to companies that have noticeably grown year over year on IDC’s FinTech Rankings.

The three Nationwide Credit Reporting Agencies (NCRAs) – Equifax® (NYSEEFX), Experian (LON:EXPN) and TransUnion NYSE:TRUNYSETRU)

In the second quarter of 2023, captives regained the lion’s share of total vehicle financing, outpacing banks and credit unions. According to Experian’s State of the Automotive Finance Market Report: Q2 2023, captives made up 29.05% of the total vehicle financing market in the U.S., up from 22.15% the previous year. They were followed by banks (24.84%), credit unions (22.49%), finance companies (13.09%) and BHPH/others (10.52%).

Experian proudly announced that it was named a Technology Leader in Digital Decisioning Platforms by Quadrant Knowledge Solutions’ 2023 SPARK Matrix™, which provides strategic insights on how market participants rank based on technology excellence and customer impact. The SPARK (Strategic Performance Assessment and Ranking) Matrix categorizes global suppliers into three sections: Aspirants, Strong Contenders and Technology Leaders, the highest-ranked category.

In an effort to help lenders quickly and easily verify income and employment information, Experian® announced consumers can now choose to share information directly from their employers’ payroll service through Experian Verify™ when applying for credit, including mortgages, auto loans and personal loans.

Experian® today released its 2023 U.S. Identity and Fraud Report revealing over half of consumers feel they’re more of a target for fraud than a year ago. The report found that consumers and businesses alike are keeping fraud and security top of mind amid uncertain economic conditions with nearly two-thirds of people surveyed reporting they’re very or somewhat concerned with online security. Consumers’ top concerns include identity theft (64%), stolen credit card information (61%) and online privacy (60%).

Experian, the leading global information services company, today unveiled its in-depth market survey on the state of predictive analytics and the future of ModelOps (model operations) for financial institutions, entitled “Accelerating Model Velocity in Financial Institutions.” The survey polled 415 consumer lending organizations in the U.S., United Kingdom, and Brazil, and provides key trends and insights on model building trends among financial institutions in three of the largest markets in the world.

Over half of Gen Zers and millennials1 (54%) consider themselves at least somewhat financially dependent on their parents with 23% stating they’re still very dependent on their parents, according to newly released research Experian®. While Gen Z had a higher percentage of financial dependency on their parents (61%), nearly half (47%) of millennials still consider themselves somewhat or very financially dependent on their parents.

To combat the challenges lenders face in deploying and managing models, Experian® today announced the launch of Ascend Ops™. Experian’s first-of-its-kind solution empowers lenders to deploy new features and models in days or weeks instead of months.

Experian, the global information services company, has published three new reports, demonstrating its commitment to developing new products and driving data innovation to support customers, creating a better future for individuals and organisations worldwide.

To offset rising interest rates, some vehicle shoppers opted for shorter term loans in the first quarter of 2023. According to Experian’s State of the Automotive Finance Market Report: Q1 2023, the average loan term for a new vehicle for near prime, prime and super prime consumers decreased by as much as one month.

In a testament to Experian Employer Services’ commitment to providing employers across the country with the latest advancements in technology, the company recently received two Showcase Standout Awards for “Best Demonstration in Cutting-Edge Technology” and “Best Overall Demo” during PayrollOrg’s 41st Annual Payroll Congress earlier this month in Denver.

Experian was named an Overall Leader, Innovation Leader, Product Leader and Market Leader in KuppingerCole’s 2023 Fraud Reduction Intelligence Platform (FRIP) Leadership Compass report for its CrossCore® integrated digital identity and fraud platform. The report highlights the critical role that FRIPs play in mitigating the diverse types of fraud and provides valuable, comparative information for businesses looking to mitigate fraud risks.