Today’s guest on the podcast is Experian’s Chief Product Officer, Gregory Wright. Listening to Greg, you get a real feel for how the role of credit bureau is changing — to the point of even who they serve is evolving.
We discuss fintech trends, like cloud, APIs and alt data, and how they’re impacting Experian’s ecosystem. Greg shares his thoughts on expanding credit to more people and how the credit score is changing with the times.
The evolving credit bureau
More and more, the way I think about how we drive innovation and new solutions to market is not only through data, but also through advanced analytics. Not just your traditional analytics, but through machine learning, and AI, and all that rests upon having really world class technology platforms. It includes having cloud-based solutions, leveraging the power of the cloud, and having easy integration points through modern API’s.
It really is changing how consumer credit works, how people interact with their lenders, how they interact with getting the right kinds of products. When we think about who we want to be as a credit bureau, we want to be the consumer’s bureau. That was a mission that our CEO, Brian Cassin, set us on more than five years ago.
More focus on the consumer
More and more, we think about being a B2B2C player, where at the end of the day, we’re enabling our lenders to serve the consumer at points in their life when they have really big, important decisions, like buying a house, buying a car, maybe getting their first job, maybe getting their first apartment.
One of the biggest changes in consumer expectations is things like smartphones, instant access to apps and cloud based solutions, where things happen at the speed of your thumb. You expect that to be available in your pocket, 24/7 — not just thinking about which hours the branch is open. So, we now have to enable that for our lenders, and our financial institutions and our landlords, anytime a consumer wants to engage.
Hiring for the future
I’m not your traditional financial services credit expert (although I’ve had to become one in this role). My background is more from Silicon Valley. I spent eight years at Intuit. I ran teams for product and design and marketing for small business and direct to consumer products, like QuickBooks and mint.com and Quicken. And there, I really learned how to become customer obsessed and really understand what the job is that we’re trying to solve.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account