EXPERIAN PLC S/ADR - EXPGY STOCK NEWS

Experian has enhanced the mortgage verification process by integrating Experian Verify™ with Freddie Mac’s Loan Product Advisor. This partnership enables mortgage lenders to quickly verify borrower income and employment using up-to-date payroll data, offering a more efficient experience for both lenders and borrowers. The integration aims to streamline loan origination by automating traditionally manual processes. Experian is also now an authorized report supplier for Fannie Mae’s Desktop Underwriter, solidifying its position as a key player in the market. This dual authorization positions Experian uniquely among service providers for government-sponsored enterprises (GSEs).

Experian Health has launched AI Advantage™, a suite of products aimed at reducing healthcare insurance claims denials. The initiative addresses a significant issue in healthcare where over $250 billion is wasted annually due to denied claims. The system includes two key products: Predictive Denials, which assesses the likelihood of denial, and Denial Triage, which prioritizes claims based on their potential for recovery. These tools leverage artificial intelligence and data analytics to streamline claims management. With 72% of healthcare executives prioritizing denial reduction, AI Advantage is positioned to enhance operational efficiency and minimize revenue loss.

Experian Health has achieved top KLAS rankings for its ClaimSource® and Contract Manager products in the 2023 Best in KLAS report, focusing on Claims Management and Revenue Cycle Management. The recognition underscores the company's commitment to enhancing revenue cycle solutions amidst industry challenges such as labor shortages and rising costs. ClaimSource® improves accuracy and revenue generation, while Contract Manager ensures compliance and financial modeling. This accolade is based on evaluations from thousands of healthcare providers, highlighting Experian Health's dedication to advancing healthcare IT solutions.

Experian has announced a strategic alliance with Recurrent to enhance its AutoCheck reports with the addition of the Recurrent Battery Report for used electric vehicles (EVs). This new report will provide critical insights into battery health, current range, and the effects of weather conditions, addressing essential concerns for dealers and consumers. The Recurrent Battery Report offers a Range Score that compares a vehicle's current maximum range to its original range, increasing transparency in the used EV market. This partnership aims to alleviate range anxiety for consumers and enhance decision-making for dealers amidst the growing popularity of EVs.

Experian forecasts a surge in fraud risks for 2023, highlighting five key threats that impact both businesses and consumers. The report, stemming from challenges posed by economic uncertainties, identifies critical areas of concern, including fake texts from employers, fraudulent job postings, and sophisticated synthetic identity fraud. Experian emphasizes the need for businesses to adopt advanced technology and analytics to counter these threats, projecting significant potential losses in the retail sector and from peer-to-peer payment scams. The company claims its solutions helped save clients $11 billion in fraud losses last year.

Experian has partnered with singer-actress Coco Jones to launch In My Bag, a video series aimed at enhancing financial literacy among young adults. The series will include three episodes featuring Jones and content creator Freddie Ransome discussing practical financial strategies. The first episode debuted today on social media platforms. This initiative is part of Experian's mission to promote financial wellness and empower consumers, aligning with their United for Financial Health initiative.

Experian and HomeFree-USA launched the CFA Credit Academy to address financial literacy challenges faced by college students. Over 250 scholars from 14 HBCUs will receive training in credit education and personal finance. The program includes live sessions, self-paced content, and a hackathon competition offering a $40,000 scholarship. Experian aims to empower students by tackling credit invisibility, especially among underserved communities, promoting equitable access to credit, and fostering financial success.

Experian's 10th Annual Data Breach Industry Forecast warns of expanding cyber threats in 2023, including attacks in the metaverse and space. Key predictions highlight the risk of phishing and malware in virtual environments, vulnerabilities of space satellites to hacking, and the malicious use of deepfake technology. With over 1,200 breaches reported so far this year, organizations still take an average of 212 days to detect a breach. Experian emphasizes the need for cyber resiliency as a long-term strategy against persistent cyberattacks.