Experian 2016 Annual Report Download - page 54

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Every day, we help millions of people make the
most of their data to get fair and affordable
access to essential, everyday services.
Summary
Every day, we help millions of people
make the most of their data to get fair
and affordable access to essential,
everyday services.
From our credit bureaux and wide range
of identity and verification solutions to
our extensive data assets and expertise,
we help people and businesses protect,
manage and make the most of their data.
We draw on this to create a rich picture
that helps banks and service providers
make informed decisions and offer credit
and services at fair rates to people and
businesses of all sizes.
Research from the World Bank shows
that credit bureaux can play an essential
role in facilitating and expanding access
to finance for millions of people who
would otherwise be excluded from
mainstream credit and services. As
the world’s largest operator of credit
bureaux, we help people and small
businesses borrow within their means
and access the services they need more
affordably. At the same time, we help
them protect their data, prevent fraud
and guard against identity theft. All of
this and more sits at the heart of our
sustainable business model that unlocks
growth and new opportunities for
people, business and society.
Through our unique social innovation
programme, we work with partners to
develop, test and scale up new products
that enable financial inclusion as well as
generate revenue for our business. Our
social innovation products helped 2.7
million people access essential services
in the year ended 31 March 2016. We are
delighted to report that we have helped
5.4 million more people since launching
our social innovation programme in
2014. As a result, we have achieved our
target of helping 5 million people by
2018, two years ahead of schedule.
These achievements and our commercial
success are founded on the passion
of our people, our dedication to
safeguarding data and privacy, and our
commitment to operating responsibly.
Today, everyday
Our products and services have a
profound effect on society, helping
people gain access to essential, everyday
services, from housing, credit and loans
to mobile phone contracts and utilities.
Many of these are part of our Credit
Services business, which represents
50% of our global revenue.
Without a financial identity, people and
small businesses cannot demonstrate
to lenders that they will be able to repay
credit, which means they cannot get
loans, or are only offered services at high
interest rates. Our products like Identity
Authenticate and Prove-ID enable clients
to immediately check the identity of
new customers, so they can process
applications efficiently. We produce 3.5
million credit reports a day around the
world, to help clients make informed
decisions. This means people can get
faster access to everyday services from
banks, retailers and other providers.
We equip people with the knowledge
and skills they need to understand their
financial profile and maintain a strong
credit rating. Services like Credit Tracker
in the USA and CreditExpert in the UK
give millions of people secure online
access to their credit history. We support
millions more every year through our
call centres, websites and social media
channels. In North America, our teams
of Credit Educators provide one-to-one
support to help people understand their
credit profile and the steps they can take
to improve it. The impact can be life-
changing (see feedback from a Credit
Educator customer later in this section).
Through our Credit Services business,
we help enterprises to build their
financial profile so they can gain
access to the services and borrowing
they need to grow. This is particularly
critical for small business owners
who are otherwise forced to fund their
enterprise through personal loans,
often putting their personal credit
profile at risk. In Brazil, we help small
businesses protect their financial
Corporate responsibility
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Strategic report •Corporate responsibility