The document provides 5 reasons for lenders to embrace data reporting to Experian: 1) It helps regulators by providing a more complete credit history for consumers. 2) It incentivizes consumers to pay on time by adding consequences to late payments. 3) It minimizes delinquencies and collections by giving other lenders visibility to existing obligations. 4) It rewards consumers for on-time payments by increasing their credit scores. 5) It provides deeper consumer insights through analytics to help lenders maximize profitability.

1. 5 REASONS
TO EMBRACE
DATA REPORTING

2. Are you
on the fence
about reporting
consumer credit data
to Experian?

3. Reporting data
is quick, easy and
builds your
credibility
as a lender.

4. REASONS
TO START NOW

5. GET ON THE SAME PAGE
AS REGULATORS
Yes, data reporting is still voluntary,
but don’t forget, reporting can
help the consumer, a big priority
for regulatory agencies.
Data reporting protects consumers
throughout their financial journey by
revealing a more complete credit history.
A credit report with greater details
allows consumers to evaluate mistakes
of the past and make themself more
desirable to lenders in the future.

6. MAINTAIN OR INCREASE
ON-TIME PAYMENTS
If you’re not reporting
delinquent payments,
what is the incentive for
your customer to pay on time?
There are no consequences
on their credit file, and they might
prioritize their payments according
to who reports and who does not.

7. MINIMIZE YOUR
DELINQUENCIES
AND COLLECTIONS
Your customer may seek
additional credit elsewhere.
If you’re not reporting data,
another lender does not
have visibility to their obligation
and may extend credit.
This may cause your customer
to become overextended,
impacting their ability to pay you back.

8. REWARD
YOUR CUSTOMERS
Good credit is a valuable asset.
When consumers pay you on time,
their credit scores can increase,
giving them access to more
financial products, at a lower cost ...
but only if you report the activity.
On the flip side, incomplete or
missing data can have a
negative impact to their score,
or result in no score at all.

9. GAIN DEEPER
CONSUMER INSIGHTS
When lenders consistently report,
consumer files thicken
and all lenders gain visibility
to credit quality and behaviors.
Layer on the power of analytics and lenders can
proactively determine when a consumer is
in the market for a new line of credit,
on the verge of transferring a balance,
or entering a state of credit distress.
Insights will help you maximize profitability
and retention, and minimize losses.

10. To learn how to begin reporting to Experian, visit/call
experian.com/datareporting