Sustainable Business

We are putting financial health at the heart of our strategy to create a better tomorrow for consumers, our clients, our people and communities. This is where we can make the biggest difference, using our people, products and profits to deliver positive societal impact and contribute to business growth.

The social challenge – around 1.7 billion adults around the world remain unbanked

Over 1 billion in Asia Pacific alone lack access to formal financial services. Millions more have no credit history, many of them in our key markets – including 40 million in the USA, 22 million in Brazil and 6 million in the UK. Many others do not have a strong enough history to get access to mainstream credit. Without access to credit, these people are excluded from opportunities to improve their lives. They’re missing out on the chance to buy a home, put their children through school, pay for healthcare, build a business or get a loan.

By empowering them to build their credit profiles and take control of their finances, we can help them access financial services and transform their lives. This also supports wider economic growth. Access to credit is a recognised indicator of financial wellbeing and extending access to financial services – including microfinance (a form of credit) – which is one of the targets included in the UN’s Sustainable Development Goals.

 

"We sit in a pivotal position in the societies where we work. For us, using our data and expertise to create a better tomorrow is more than an opportunity. It’s a responsibility."
Brian Cassin,

Experian CEO

Our role – improving financial lives

This is at the heart of our purpose to create a better tomorrow for consumers, our clients, our people and communities. This is where we’re best placed to help, and where we can achieve a meaningful difference through our people, products and profits to deliver positive societal impact while contributing to business growth. It’s naturally one of our strategic business focus areas – to empower consumers to improve their financial lives, gain access to credit, safeguard their identity, save money, negotiate debt and improve their financial knowledge. 

As the world’s largest credit bureau, Experian has a vital role to play in providing lenders with the information they need to offer more loans at fairer rates. Extending access to credit helps to drive social and economic development by enabling businesses to grow and families to pay for the essentials they need to transform their lives. 

We’re also enabling people to take control of their financial lives by helping them understand, manage and improve their financial situation – and to protect themselves and their data. In doing so, we’re supporting the financial health of individuals, businesses and economies – and of our own business as we open the door to millions of potential new customers for us and our clients.

How we help

We’re helping people improve their financial lives through our core business, our Social Innovation programme and our community investment. 

The value we created in the past year

Materiality

This year, we conducted extensive consultation with senior leaders representing different functions and regions across the business, as well as an analysis of external stakeholder needs, to refresh our understanding of the most material sustainability issues for our business and stakeholders. Through this materiality process, we confirmed that improving financial lives is the greatest opportunity we have to deliver positive societal impact and contribute to business growth through our people, products and profits. This focus on improving financial lives clearly aligns with our strategic business focus area to empower consumers to improve their financial lives, gain access to credit, safeguard their identity, save money, negotiate debt and improve their financial knowledge (see page 25 of Experian Annual Report 2020). These areas are also where we are best placed to make a difference to society and support the UN’s global Sustainable Development Goals (SDGs).