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Experian focuses on a data-insights approach at annual summit

05 September 2018 Experian SA

Experian SA’s annual Innovation Summit gathers global experts to discuss the power of data and how these can be used to address the challenges of today and beyond.

Experian South Africa hosted its annual Innovation Summit in Johannesburg today, which brought together global and local experts to highlight how businesses can undertake an approach of leveraging big data and analytics to address some of today’s digital challenges such as legitimising customers. Achieving this without compromising on the customer experience is critical for businesses around the world, including South Africa, as 89% of organisations believe there are better ways to reduce fraud without impacting the consumer’s digital experience, according to Experian’s 2018 Global Fraud and Identity Report.
 
“These very real business issues were discussed by our specialised speakers who provided practical examples and insights on how to address these,” explains Mark Wells, Chief Customer Officer at Experian SA. “With the power of big data becoming even more significant for businesses of today, we focused this year’s conference on empowering delegates on how to use data and technology as a driving force for growth and innovation in their organisations as many undergo their own digital transformations.”
 
One of the keynote speakers was Steve Eichenlaub, Global Consulting Practice Director, who discussed the power of big data platforms to provide a robust environment for businesses to apply analytics and solve complex business problems in real-time. Eichenlaub is currently helping North American financial institutions gain a competitive edge with this new technology which he describes as being a real game changer for the industry.
 
Adam Tyler, Chief Innovation Officer at Experian Partner Solutions addressed ‘Crawling the Dark Web’. Based in the U.K., Tyler’s experience spans across the security landscape, including identity protection and fraud detection, cyber security trends, hacking and attacking methods. Tyler discussed Experian’s partner identity protection technologies which combines Experian’s credit expertise with a sophisticated patent-protected technology platform that detects when identity information has been compromised. This joint approach enables Experian to inform consumers that their identification data has been compromised and advise them that stolen identity information is actively being used in credit inquires and new account openings.  
 
Also presenting was Clare Muscutt, founder of CMXperience UK, who discussed ‘The practical application of Customer Insights’. Clare is one of the world’s leading experts in Customer Experience and specialises in customer-led service design and transformation. She has worked for the U.K.’s best known brands including M&S, British Airways, Premier Inn and Sainsbury’s.
Muscutt highlighted that by retaining a siloed approach to customer data and insights, many businesses are missing out on opportunities to better serve customers from start to finish.
 
Wells ends, “Digitalisation has transformed today’s society, giving enterprises a unique opportunity to collect and process vast amounts of data that they can use to win, serve and retain customers. Organisations need to take a data-insights driven approach and overcome internal barriers to better serve their customers and get products and services to market faster.” 

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The South African authorities are hard at work to ensure the country is removed from the global Financial Action Task Force grey-list by February or June 2025. What do you think about their ongoing efforts?

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End-2025 exit is too optimistic.
Grey-list is the new normal.
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