Experian Achieves Significant Milestones in FinTech Rankings 2024
Experian's Recent Achievements in Financial Technology
Experian has achieved a remarkable feat by securing the 7th position in the prestigious IDC FinTech Rankings for the year 2024. This recognition marks the third time in a row that Experian has made it to the top ten providers of financial technology. The IDC FinTech Rankings feature the top 100 technology providers based on their revenues from the financial services and FinTech sectors over the previous calendar year.
Recognition for Excellence in Technology Solutions
Alongside this notable ranking, Experian received the esteemed IDC Real Results Award for its innovative solutions in Bank Deposit Transformation. This acclaim reflects Experian’s dedication to driving genuine change and measurable outcomes within its client institutions in the financial services industry.
The Impact of the Real Results Awards
The Real Results Awards celebrate IT providers that have made significant contributions to enhancing operational effectiveness in financial institutions. Experian's win in Bank Deposit Transformation highlights the positive impact of its advanced fraud solutions, allowing clients to enhance online deposit account approval rates significantly. These advancements are not only improving the bottom line for financial institutions but also effectively reducing fraud losses.
Understanding the Ascend Fraud Sandbox
At the heart of these innovative efforts is the Ascend Fraud Sandbox, a cutting-edge analytical platform designed for organizations to explore their data and uncover new fraud patterns efficiently. This sophisticated tool allows for the rapid construction, testing, and deployment of new models, drastically shortening development timelines from several months to merely days. With access to over 10 billion identity and fraud events, the Ascend Fraud Sandbox equips clients with the necessary insights to tackle emerging fraud risks proactively.
Thought Leadership in Financial Services
Marc DeCastro, the research director at IDC, reaffirmed Experian's stature as the 7th largest global technology solutions provider for the financial services sector. He noted that Experian remains at the forefront of delivering the data and technology needed by financial institutions to adapt quickly and remain competitive amid the rapidly evolving landscape.
As part of its 21st year of the IDC FinTech Rankings, the evaluation process scrutinizes technology providers strictly based on their financial performance from the preceding year, targeting those who supply solutions directly to banks, insurers, and capital market entities.
About Experian - Pioneering Data Solutions
Experian is renowned as a global data and technology powerhouse, dedicated to creating opportunities for both individuals and businesses alike. The company plays a crucial role in revamping lending practices, thwarting fraud, streamlining healthcare processes, and advancing digital marketing strategies. Utilizing a unique blend of data, analytics, and software, Experian assists millions in achieving their financial objectives while maximizing efficiency and savings.
With operations spanning numerous sectors, including financial services, healthcare, automotive, agrifinance, and insurance, Experian is committed to investing in skilled professionals and state-of-the-art technologies to harness the full potential of data. A proud member of the FTSE 100 Index and listed on the London Stock Exchange, Experian employs a talented team of 22,500 across 32 countries, with its corporate headquarters located in Dublin, Ireland.
Frequently Asked Questions
What ranking did Experian achieve in the 2024 IDC FinTech Rankings?
Experian was ranked 7th in the 2024 IDC FinTech Rankings, marking its sustained presence in the top ten.
What award did Experian win related to Bank Deposit Transformation?
Experian won the IDC Real Results Award for Bank Deposit Transformation, recognizing its innovative solutions in the financial sector.
What is the Ascend Fraud Sandbox?
The Ascend Fraud Sandbox is an analytical environment allowing organizations to explore data for discovering fraud patterns and building new models quickly.
How does Experian support financial institutions?
Experian delivers data, technology, and scalable solutions enabling financial institutions to make informed business decisions and maintain competitiveness.
What industries does Experian operate in?
Experian operates across various sectors, including financial services, healthcare, automotive, agrifinance, and insurance, providing diverse data solutions.
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