Experian Social Innovation Has Powered Opportunities for Over 20 Million People
June 21, 2019 — Experian has launched its Corporate Responsibility Report 2019, highlighting how its social innovation programme has enabled more than 20 million people to access credit and other essential services. It also shows how Experian’s core products and services are adding value to society through the introduction of alternative data and by bringing together capabilities and expertise.
Experian Boost is a great example of how Experian is creating shared value in the US, with the potential to help more than 100 million people access affordable credit by adding positive payment history directly into their credit report for the first time.
Another great service Experian offered in Brazil is the Serasa Itinerant programme, which included a branded truck and boat travelling across 44 cities and reaching more than 100,000 people.
In South Africa, an app which helps people get the credit they need to grow their businesses is one example of many Experian social innovation products which have brought almost US$20m in revenue since the programme started.
The GeleZAR app uses comic-style cartoons to help people learn about saving, budgeting, credit reports, debt counselling and running a small business. It was developed through Experian’s social innovation programme in consultation with micro-entrepreneurs to ensure it met their needs.
Early in 2019, Experian worked with one of South Africa’s biggest retailers of low-cost smart phones to trial GeleZAR on 35,000 handsets, with a view to installing it on millions more in future. More than 2,000 people have already bought the phone with the app pre-installed.
Experian’s Corporate Responsibility Report 2019 also reveals:
- Experian employees volunteered more than 50,000 hours in and outside of work time to support their communities. Total community contributions increased by 14% to US$10.7 million.
- More than a quarter of electricity Experian consumes now comes from low-carbon or renewable sources. Its carbon footprint reduced by 6% year-on-year, to 47,700 tonnes of CO2e.
- Experian MicroAnalytics has used alternative data to extend more than five billion credit offers in emerging markets since 2010.
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