The webinar discusses data quality and accuracy. It covers the current regulatory landscape around data which is increasing scrutiny of data furnishers. It then discusses how Experian helps clients achieve data accuracy through its Data Integrity Services, which assesses data quality, identifies issues, and benchmarks clients. A case study shows how one client analyzed dispute trends to reduce volume and resolution time. Finally, it outlines Experian's practices for cleansing and loading consumer credit data.

1. Discover the power
of data quality
Webinar: September 17, 2014
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2. Discover the power of data quality
Agenda
Current landscape
Achieving data accuracy
Case study
Experian’s practices of cleansing and
loading data
Questions
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3. Current landscape
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4. Discover the power of data quality
Current landscape
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5. Discover the power of data quality
Continued scrutiny
Follow the bouncing ball…
Jan 2012:
CFPB launches
its non-bank
supervisory role
(e.g., payday
lenders)
1
Dec 2013: CFPB expands
supervisory role of non-bank
student loan servicers
3
Dec 2013: CFPB
orders mortgage
company to refund
$125M
Dec 2013: CFPB orders direct
bank to pay $80M for
discriminatory auto loan pricing
Jan 2014: CFPB
begins action
against mortgage
kickbacks
6 Nov 2013:
2 4
5
CFPB puts
debt
collectors on
notice re: fair
practices
Jan 2014: Supervisory exams
begin on larger collection
companies. Findings: failure
to investigate disputes
7
Apr 2014:
SECURE Act
proposed that would
set requirements
for credit bureaus,
lenders, and data
providers to maintain
accurate data
8
June 2014:
CFPB launches
inquiry into
mobile banking
9
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6. Discover the power of data quality
Expanding control by the CFPB
December 2012: CFPB announces e-Oscar enhancements
Provides capability for credit reporting agencies to send
additional consumer-provided documents to data furnishers
as part of disputes view
Went live in August 2013
Data furnishers
required to
receive and
process additional
documents
regarding disputes
Operational
dispute teams
must expand
process and
procedures
Develop and
implement better
metrics
September 2013:
CFPB puts ALL
data furnishers on
notice regarding
duty to investigate
consumer credit
report disputes
Experian
Equifax
TransUnion
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7. Discover the power of data quality
What does the research tell us?
Industry insight and research results suggest that there should be a continued focus
on the quality of consumer data to maximize its usage for intelligence
Validating the accuracy of data will achieve a level of ‘readiness’ for regulatory change
Data quality
“ ”
Data quality: It’s a journey,
not a destination.
Regulatory
readiness
Regulatory change is among
the Top-5 biggest concerns
of the world’s major financial markets.
Data needs to continually be refreshed
or over time, it will erode
Estimated 2.1% of contact information
goes bad if untended for one month¹
More than 140 companies found that,
on average, companies estimated they
were losing an average of $8.2 million
a year because of poor data quality²
”
“
Only one in two companies say they
are highly ready for regulatory change³
The intention is that budgets will
increase 12% to support dedicated
resources for regulatory changes³
¹ Pitney Bowes Software, The ROI of Data Quality, 2-5 | ² Gartner, “Organizations Perceive Significant Cost Impact from Data Quality Issues” Ted Friedman as noted in Pitney Bowes
Software, The ROI of Data Quality, 2-5 | ³ www.sungard.com/regulatoryreadiness
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8. Achieving data
accuracy
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9. Discover the power of data quality
How Experian helps to achieve data accuracy
Increased pressure from the CFPB and other
government agencies are raising the standards
of data accuracy
Experian offers Data Integrity Services to provide data furnishers insight into
their data submissions, failures, disputes and peer benchmarking
To help clients achieve data accuracy, our packages deliver actionable output
and implementation solutions
New and ongoing challenges
Regulatory scrutiny
Customer experience
Operational efficiency
Data Integrity Services benefits
Improvement to data quality
Positive customer experience
Reduced operational costs
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10. Discover the power of data quality
Experian Data Integrity Services
Data Integrity Services
A comprehensive solution and methodology for assessing data quality,
with focus on Metro 2 reporting and disputes (E-Oscar)
Uses advanced analytics and peer benchmarking to produce information
that is both insightful and actionable
Analytics
Metro 2 reporting assessment Dispute metrics, E-Oscar
Review at a portfolio and / or enterprise
level
Review data completeness for key
fields
Provide cross-field validation to ensure
consistency
Ensure reporting practices align with
legal requirements
Analyze dispute frequency by:
► Product type
► Contact channel
► E-Oscar dispute reason
Analyze dispute resolution based on
amount of time taken and dispute result
Peer benchmarking and trending*
*Optional feature – included in more comprehensive packages
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11. Discover the power of data quality
Data reporting tools and custom data review packages
Data Integrity Services offers reporting tools and metric packages to help
improve data quality relative to consumer trade line and dispute data
Data Integrity
Services
Data reporting tools
Custom data review
packages
Metric
Report™*
Base report** DataArc™ DataArc Plus™
DataArc
Custom™
*Report not currently offered to all clients
**Report not built at this time
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12. Discover the power of data quality
Data Integrity Services product suite
Product suite
DataArc
Custom™
True cost avoidance
and risk mitigation
through a customized,
tailored assessment
and implementation
solution of Metro 2 and
dispute data across
multiple businesses
Tailored
Comprehensive
Actionable
Dedicated
consultant (internal
and/or external)
DataArc Plus™
Improve data accuracy,
customer loyalty and
experience and reduce
costs by gaining in
depth insight into
dispute data and peer
benchmarking
Understand
alignment with
industry and peers
Best practices
Reduce disputes
across multiple
portfolios
DataArc™
Improve data reporting
accuracy through
analytics and visibility
of Metro 2 data
submissions and failures
and dispute metrics
Better accuracy
Trended dispute
data
Reduce disputes
Metric
Report™
Identify and help correct
Metro 2 submissions
and failures through
recurring metric reports
Low cost
Visibility into
problem areas
Account-level detail
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13. Case study
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14. Case study
A dispute handling case study
Objective:
Reduce inbound disputes by concurrently analyzing,
reason and resolution
Scope:
Credit bureau reporting disputes are received through
three channels: e-OSCAR, correspondence and voice
Success metric:
Number of disputes and re-dispute percentage
Outcome:
Reduce dispute volume and resolution time
Benefits
Improved customer experience, improved process
efficiency
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15. Case study
A case study with dispute trends and insight
2013 Disputes by Channel e-OSCAR by Bureau
Correspondence Voice e-OSCAR
e-OSCAR Disputes by Volume
2011 2012 2013
Insights
e-OSCAR was the
primary dispute channel
in 2013 followed by voice
and correspondence
e-OSCAR volume is
distributed unequally
across bureaus
e-OSCAR volume has
increased year-over-year
Source: Internal Data Warehouse
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16. Case study
Dispute handling – volume trends by channel
e-OSCAR Trend (2013)
eOscar
Linear (eOscar)
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Voice Trend (2013)
Voice
Linear (Voice)
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Correspondence Trend (2013)
Insights
e-OSCAR volumes
are trending up slightly
Voice linear trend
shows gradual reduction
Correspondence
linear trend shows a
marked reduction
Corres
Linear (Corres)
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Source: Internal Data Warehouse
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17. Case study
Dispute code distribution – 2013 landscape
Six dispute codes comprise 80% of total dispute cases
Source: Internal Data Warehouse
Dispute Codes Distribution
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18. Case study
e-OSCAR channel: re-disputes
42%
22%
13%
9%
85%
6%
4%
Percentage of re-disputes
2%
Re-disputes
1% 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 20 28 36
Insights
42% of dispute cases
were raised only once
in 2013
58% of dispute cases
were raised two or
more times
85% of re-disputes
were disputed two
through five times
in 2013
Number of re-disputes
Source: Internal Data Warehouse
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19. Discover the power of data quality
Best practices – an investment evolution
What are the key strategic questions we are trying to answer in 2014?
HOW CAN WE
improve the
customer experience?
HOW CAN WE
strengthen
disputes linkage?
HOW CAN WE
provide best resolution
to customer from our data?
HOW DO WE
limit investment dollars
across channels?
HOW DO WE
increase the data accuracy
and seldom leads to
disputes?
HOW DO WE
automate and simplify?
HOW DO WE
reduce overall operational costs
We want to ensure that our analytics and research efforts are aligned with our consulting
partner to address the key strategic questions that we are trying to solve for the member
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20. Experian’s
practices of cleansing
and loading data
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21. Discover the power of data quality
A client’s evolution – investment in people and practices
Experian is committed to ensuring the integrity of data throughout the entire data
lifecycle and continues to build our repository of consumer credit information
► Experian obtains consumer credit information from over 13,000 data
furnishers
► Data furnishers contribute 4.2 billion trades to our database
Furnishing credit data to Experian, benefits both clients and consumers
Consumer
credit report
Establish payment history
Increase tradeline
thickness
Opportunity to improve
score
Reduce ‘unscorable’
consumers
Customer
experience
Potentially provide score
and create consumer
awareness
Establish payment history
Positive customer
experience through
validation of data quality
Data
furnisher
Validate accuracy of on-file
data and submissions
Fewer delinquencies and /
or charged-off accounts
Broaden lending and
identify sales opportunities
Operational and process
improvements
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22. Discover the power of data quality
The journey continues – ultimate governance
and oversight
100% of our data comes to Experian via
secure electronic submission
Approximately 98% of data to file in 24 hours
Updated nationally, 24/7
Our overall rating for data coverage at the
national level is dominant at over 97%
Acquire, quality-check and load data for more
than 13,000 data furnishers
Accuracy
Consistency
Completeness
Industry-differentiated approach
Freshness
Coverage
Integrity
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24. More Information
Learn more about the key ingredients for a successful data quality program.
Download “The Power of Data Integrity and Quality – an Experian Perspective.”
www.experian.com/data-accuracy
Contact us:
Email: cis@experian.com
Phone: (888) 765-2421
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