Generational divide, economic influence and a universal view of a…
There’s an opportunity across financial services to help people in many ways. While today’s economy could be described as ‘nervous’, people’s economic attitudes are somewhat indifferent....
How can data sharing enhance credit risk modelling?
Data sharing can enhance credit risk modelling in multiple ways. Open Banking provides a much deeper understanding of an individual. Until now credit scoring has been built on the use of historical...
Innovation and opportunity: using open banking to drive better customer…
We’ve spoken at length about the advantages open banking will bring. How it will enable us to support our customers better, and improve credit access for those who have previously been excluded....
Risk in an open-data world
In our last White Paper: Rethinking affordability, we explored the increasing role of affordability in lending. At Experian, we welcome the FCA’s distinction between credit risk and...
Data + science = value, true value
When it comes to analytics, data science is front and centre of how a revolution is happening. The financial services, banking and insurance sectors all capture lots of data points and typically...
How categorisation and aggregation bring open banking to life
There’s a big opportunity around real-time exchange and aggregation of bank statements in association with other complementary data such as credit information. Part of the opportunity lies in...
10 steps for gaining consent in an open-data world
From the GDPR to Open Banking, the PSD2 to the FCA’s new emphasis on affordability, regulators and government have led a systemic shift towards empowering the customer. Today it is customers, not...
How Experian solved the Big Data problem of Open Banking…
Today’s digital, data-fuelled economy means many businesses are struggling to extract the right level of insight to inform their operations and decision-making strategies. At the same time, the UK...
The open data opportunity for insurers
Outside of banking, many people’s knowledge of ‘Open Banking’ is quite sparse. I would define Open Banking as two things: The use of APIs to share bank statement data: everything a consumer...
Open data can now be categorised to bring value that…
“To extract value from open data, you need to categorise it. When you do, the results are...
Rethinking Affordability
One of the most important considerations facing us as an industry is how we manage responsible lending. Last year (2017), the Financial Conduct Authority (FCA) began consulting on proposed changes...
What motivates people to share their data?
There are three main reasons why people share their data with organisations. The first is proximity of purpose: they’re in the moment and need to share data at that point in time. They want to...