EXPERIAN PLC S/ADR - EXPGY STOCK NEWS

Experian highlights a 25% increase in online transactions since the pandemic, as stated in their Global Insights Report. Despite ongoing digital engagement, consumer loyalty is declining, with 61% of users sticking to their pre-pandemic online service providers, down 6%. The report also notes that companies are investing heavily in digital technologies and enhancing customer experiences. Key findings include a rise in AI adoption from 69% to 74% and a growing number of consumers engaging in online banking.

Experian's Categorisation as a Service (CaaS) is now available on AWS Marketplace, enabling UK organisations to automate customer transaction data analysis in real-time. CaaS offers insights into customer financial behaviour, aiding lenders in assessing risks and improving decision-making. The service, already deployed by clients like Permanent TSB, combines client data with open banking capabilities. This partnership enhances data analysis and financial assessments while maintaining customer data security.

Experian has unveiled new verification capabilities designed to connect lenders with over 120 million consumer permissioned payroll accounts. This initiative, enabled through a partnership with Citadel API, aims to facilitate seamless verification of income and employment for borrowers. Consumers can authorize access to their payroll data, which allows lenders to receive verified income reports, expediting loan approvals. The integration strengthens Experian's verification solutions, enhancing options for lenders while empowering consumers to control their data.

The S&P Dow Jones Indices and Experian released data for the S&P/Experian Consumer Credit Default Indices as of September 2021, showing the composite rate remained steady at 0.39%. The bank card default rate decreased by 24 basis points to 2.11%, while the auto loan default rate increased by one basis point to 0.35%. Regional analysis revealed Miami's default rate dropped to 0.80%, New York to 0.40%, and Los Angeles to 0.31%. The release highlights trends in consumer credit defaults across various loan categories and metropolitan areas.

UnidosUS has partnered with Experian to enhance Spanish-language credit education tools, aiming to empower Latino families financially. This collaboration is part of UnidosUS's Financial Empowerment Network, which has already assisted over 1,200 individuals in improving their financial health, resulting in an additional $1.72 million for clients. The initiative is particularly crucial as families recover from the pandemic. Experian's resources, including a Spanish-language consumer education e-book, will be accessible to UnidosUS affiliates.

National Urban League and Experian North America have formed a partnership aimed at enhancing financial inclusion for Black entrepreneurs and communities. Announced during the National Urban League's inaugural virtual conference, the collaboration will provide Young Professionals and Urban League Entrepreneurship Centers access to credit reports, FICO® Scores, and small business tools. Through Experian Boost™, individuals can improve credit scores by including utility and other bills, fostering economic empowerment.

Opy USA, Inc. has announced a strategic partnership with Experian aimed at launching its 'Buy Now, Pay Smarter' (BNPS) solution in the US market. This partnership will leverage Experian's tools to provide consumers with affordable, transparent loans that have no interest. Opy aims to offer these solutions via ecosystem partners, targeting multiple sectors, including healthcare and retail. This collaboration marks a significant step in Opy's efforts to expand its brand presence and consumer accessibility in the financial services arena.

S&P Dow Jones Indices and Experian reported that the S&P/Experian Consumer Credit Default Indices for August 2021 show a composite default rate down one basis point to 0.39%, marking the fifth consecutive drop. The bank card default rate decreased by 16 basis points to 2.35%, while auto loan defaults increased by three basis points to 0.34%. Major cities like Chicago and New York experienced rising default rates, highlighting regional disparities in credit risk.

Experian has achieved a significant milestone by ranking #11 in the 2021 IDC FinTech Rankings, a notable jump from its prior rank of #45. This annual ranking highlights the top global providers of financial technology. The company’s focus on innovation and addressing challenges for financial institutions has been recognized, affirming its commitment to improving financial access for consumers and businesses. Experian's investment in technology enhances its service offerings, making it a recognized leader in the financial services sector.