Fotó: Erik Isakson
Helping people thrive in the digital economy is fundamental to Experian. It is central to our purpose and a cornerstone of our strategy.
Over the past year, Experian has demonstrated enormous agility and we have delivered considerable progress. We have sought new ways to use our resources, data, technology and creativity to bring many new solutions to market that address emerging consumer and client needs. We see many ways to build further from here.
Our strategic ambition
Our strategy is tailored to take advantage of a wide number of growth opportunities, as well as to deliver sustainable, competitive advantage. Our aim is to be one of the premier companies in the world to help individuals to improve their financial lives and to save money.
We have also built on our reputation for world-class propositions which combine our data, analytics and software to solve a range of client needs as they shift to digital platforms, deploy open data strategies and manage critical pain points such as the growing instance of fraud.
As we execute our strategy, it is important that we are trusted by consumers, businesses, and societies worldwide as a responsible custodian of their data. As a leading driver of financial inclusion and a consumer champion, we also seek to be purpose-driven in all that we do, and we aim to be an aspirational environment for talent, attracting, retaining, and developing the best people.
Favourable market dynamics
The market trends impacting Experian are favourable. The move to more online interaction has led to growth in digital financial services and e-commerce, a trend which has also led to an inflection in the need to manage fraud and personal identity, while individuals need more help to navigate their finances and to protect their online identity.
Digitisation
For businesses and individuals alike, taking advantage of these trends while protecting against fraud relies increasingly on data and analytics. Financial institutions are upgrading their systems in a bid to enhance digital lending experiences while also lowering their costs to acquire and retain customers. These trends are not constrained to the Financial Services industry and, for Experian, building out into new market segments adds to our total opportunity.
Consumer empowerment
With the advent of open data technology, individuals are also able to take greater ownership of their data and the associated uses of it. More and more we see this as a catalyst for new propositions which can help people to assume more power and control over their financial lives.
Demographics
Demographics are also a notable secular trend as 1.7 billion people lack access to basic financial services. Our propositions help to widen access to credit by helping lenders to tailor their offers and ensure suitability. This leads to more affordable credit offers which drives financial inclusion and improves financial health.
These trends are positive for Experian and have been a focus for our product innovation and business development investment.
Achieving our strategic ambition
Our strategy is executed against a set of high-impact Strategic Focus Areas (SFAs) delivered through five growth initiatives (see below). These are deeply informed by client and customer trends in our various markets and they define where we focus our product strategy and our investment decisions.
This framework has helped us to introduce a series of innovations which have delivered a lot of success, innovations such as Experian Boost and Experian Ascend. It is also helping us to maximise the potential of new data sources, for example in Brazil with the advent of positive data scoring, and it guides our entry into newer areas, such as income and employment verification. For the next phase of our evolution, innovation will only become more important to our strategy.
The five SFAs are:
1. Make credit and lending simpler, faster and safer for consumers and businesses
2. Empower consumers to improve their financial lives
3. Help businesses verify identity and combat fraud
4. Help organisations in specialised verticals harness data, analytics and software to make smarter decisions
5. Enable businesses to find, understand and connect with audiences
Our strategy is underpinned by critical enablers and foundations that we believe are crucial to Experian’s success. Fundamentals include our high-performance culture, which helps us to attract, retain and develop highly talented people; our superior data assets; the breadth of our capabilities; and our ability to operate at scale. We continue to invest in these areas to support our growth. For more information on these see Our business model.
To take advantage of the favourable market dynamics and attractive market spaces we are investing in a defined set of growth initiatives aimed at delivering high rates of growth sustainably. In B2B, these initiatives are directed at innovation within our core portfolio and entering and expanding in new growth markets, while in Consumer Services we aim to continue to redefine our business with a range of new engaging offers.