Experian’s Post

Navigating the credit industry can be a maze, but CRS is here to simplify the process for you. As a certified CRA, we have direct API integrations with Equifax, Experian, and TransUnion, making us your one-stop shop for credit, fraud, and compliance needs. Here are some key points to note: #1 CRS is designed for businesses with a permissible purpose to access consumer credit reports. #2 Setting up with our credit API is a breeze. Contact our sales team, execute the contract, and we'll set up the credit API connection tailored to your requirements. #3 Our credit API setup typically takes 5 to 7 business days, depending on your requirements. #4 CRS credit API is a web-based interface compatible with any client-side environment. All you need is the ability to post requests via HTTPS with 128 bit SSL encryption. #5 Get credit reports and data in seconds. It only takes 2 to 3 seconds for a single-bureau credit report and 11 seconds for a tri-bureau merged credit report. #6 Our credit API is available 24/7 with 99.9% uptime. #7 We support a variety of data formats including HTML, MISMO, PDF, TEXT, XML, X12. #8 Our credit API supports both asynchronous and synchronous communication via HTTPS post. #9 We offer over 30 predefined, customizable templates for structuring your credit reports. #10 Yes, we do support credit card payments and credit scores are accessible via our credit API. Navigating the credit industry doesn't have to be a hassle. With CRS‎, you can get the credit data you need, when you need it.  Ready to streamline your credit data management? Connect with us today, or tag someone who could benefit from our cutting-edge solutions. Let's transform the way you handle credit data together!

How can financial institutions transform their credit, fraud and analytics operations? In a recent Q&A with Digital Journal, Alex Lintner explores how Experian's Ascend Technology Platform helps FIs do it: https://lnkd.in/gqGXP9iX

The policy of implementing separate queues for clients with different types of cards is deeply flawed and raises serious ethical and practical concerns, particularly in the context of financial inclusion. First and foremost, this policy has the potential to foster discrimination within the bank's customer base. It creates a stark division between clients based on the type of card they hold, effectively segregating customers into classes based on their financial status. This blatant stratification of customers is not only ethically questionable but also runs counter to the principles of financial inclusion, which seek to provide equitable access to financial services for all, regardless of their socioeconomic background. The idea that certain clients will receive preferential treatment simply because they have premium cards is an affront to the very notion of financial inclusion. It sends a clear message that the bank values the business of high-income or high-credit customers more than those with basic cards, undermining the fundamental principle that all individuals should have equal access to essential financial services. In practical terms, this policy also poses significant barriers to access for customers in need. Financial emergencies can strike anyone, regardless of their card type, and delaying access to services based on card classification is not only unjust but can also have detrimental consequences for individuals and families facing urgent financial challenges. In addition, this policy may present some challenges for premium cardholders too. It could put their financial information on display in a public area, which may compromise their privacy and safety. Premium users might feel uneasy about having their financial status revealed when they have to stand in a separate queue. Moreover, the public display of their premium status may make them more vulnerable to theft or fraud. Criminals might see them as having more valuable assets, putting them at risk. This policy not only fails to align with the principles of financial inclusion but also risks the safety and privacy of users, perpetuating discrimination and creating unnecessary divisions among customers. It is imperative that the bank reevaluates this ill-conceived practice, prioritizing fairness, transparency, and equal access to financial services for all its clients. Ultimately, such a policy not only has the potential to damage the bank's reputation but also undermines the very essence of financial inclusion that it should be striving to uphold.

This isn’t smart from any angle. But why do this in a banking hall Standard Bank Group ? Why not base this on services a customer requires. With cards, does it mean it’s that bad of a service for lower tier cardholders? I have never heard of queuing based on card type in a bank. I do know based on services.

·       Fraud and identity verification: Experian's platform stops fraudsters faster and streamlines consumer experiences via a suite of software services powered by advanced AI analytics and comprehensive data assets across digital identity, device intelligence, behavioral analytics and credit insights. It delivers unrivaled identity verification and fraud risk detection to enable businesses to grow revenue through seamless consumer experiences and reduce fraud loss exposure

Go the terms and conditions on credit karma and Experian BEFORE you dispute online! Also, when you claim the account is in “litigation” that triggers an investigation. While that investigation takes place, the items are SUPPRESSED not DELETED! Once the accounts come back VERIFIED, it makes very difficult to get those items removed. You can dispute LEGALLY and ACTUALLY sue! You don’t have to try a “glitch” 😂 Things like this is the reason EVERYONE thinks all credit repair professionals are “Scammers”! REAL companies that are registered and bonded have to work 10x as hard to gain the trust of all the people that pay for the “Special Code” then are stuck with all the accounts on their report 🤦🏾♂️ You may get lucky and thats great for YOU but the other 99% of people will be an a worse situation than they started! WE have to do better 🤦🏾♂️ #kingcreditservices #edutainment #creditmanagement #askkingcredit

Over 26 million Americans are "credit invisible," but what does that mean and how can it affect you? According to the Consumer Financial Protection Bureau being credit invisible means common credit score models have insufficient data to give an accurate read and can signal risk to financial institutions that may deny loans, issue false declines, and have outdated data. Fiserv and Microsoft are working together to outline the transaction characteristics across 3,500 dimensions to verify and validate people and businesses' identities. 

OCCAM: Bridging the Gap Between Consumers and Financial Fairness in Light of the CFPB’s 2023 Report The Consumer Financial Protection Bureau's (CFPB) Annual Report for 2023 illuminates significant challenges consumers face in the financial landscape, particularly in credit reporting and banking services. This summary not only reflects the key findings of the CFPB but also underscores OCCAM’s (Organization for Consumer Credit Advocacy and Mediation) pivotal role in addressing these challenges. Key Findings from the CFPB's 2023 Report: Dominance of Credit Reporting Issues: Over 81% of the complaints received were related to credit or consumer reporting, spotlighting the pervasive issue of inaccuracies in credit profiles which could potentially hinder consumers' financial opportunities. Banking Services Discrepancies: A substantial number of complaints highlighted issues with unauthorized transactions and challenges in account management, indicating a significant trust gap between consumers and banking institutions. Fraud and Identity Theft: Across various financial products, consumers reported fraudulent activities, notably in debt collection and credit card services, emphasizing the growing concerns over financial security and privacy. OCCAM stands at the forefront of consumer advocacy, leveraging the insights from the CFPB’s report to empower its network of highly trained advocates. Our mission extends beyond merely addressing individual complaints; we aim to foster systemic changes that enhance transparency, fairness, and accuracy within the financial industry. OCCAM's Role and Mission in Addressing the Challenges: Advocacy and Mediation: OCCAM’s advocates are equipped with specialized training and resources to navigate the complexities of credit reporting and banking disputes. By mediating between consumers and financial institutions, OCCAM plays a crucial role in correcting inaccuracies and resolving disputes. Educational Outreach: Understanding the intricacies of financial products can be daunting for many consumers. OCCAM commits to demystifying these complexities through educational programs, empowering consumers to make informed financial decisions. Legislative and Regulatory Advocacy: Armed with data and insights from the CFPB’s report and our own advocacy experiences, OCCAM actively engages with lawmakers and regulatory bodies. Our goal is to influence policies and regulations that prioritize consumer rights and ensure equitable financial practices. Strengthening Industry Standards: OCCAM collaborates with ethical businesses within the financial industry, advocating for practices that uphold consumer interests. Through these partnerships, we encourage the adoption of standards that mitigate the issues highlighted in the CFPB’s report. https://buff.ly/4apWI0G

Want to discover new ways to speed up your underwriting process while decreasing risk? How about creating a frictionless lending experience for your members? Experian is always looking for new ways to partner with our FI's. By helping our clients overcome their biggest challenges, we are creating win, win, win scenarios. T-Pain would be proud! Let's talk about instant and consumer permissioned verifications! #Banks #CreditUnions #Lending #ConsumerLending #SpeedandEfficiency #Automate #CustomerExperience #IncomeandEmployment #WhoYouWorkWithMatters

Maintaining a good credit score is essential for financial success, especially when considering major investments like buying a home or securing a loan. Here are some of the best free tools to check and improve your credit score quickly: 🔹 Credit Karma: Weekly updates from TransUnion and Equifax, along with personalized recommendations. 🔹 Credit Sesame: Monthly updates, including identity theft protection. 🔹 WalletHub: Daily updates on your TransUnion score and personalized insights. 🔹 Experian: Offers a free Experian report and FICO score, in addition to credit monitoring. 🔹 CreditWise by Capital One: Provides weekly updates and alerts for significant changes. Quick Tips to Boost Your Credit Score: - Pay down credit card balances - Make payments on time - Increase credit limits - Dispute errors on your report - Keep old accounts open - Limit hard inquiries Empower yourself with these resources and tips to achieve a better credit score. For all the links and information, read my latest blog: https://lnkd.in/gV6AgztR #CreditScore #FinancialTips #RealEstate #HomeBuying #CreditKarma #CreditSesame #WalletHub #Experian #CreditWise #ChasingRainbowsRealEstate