Market Pulse
About
Available on
Community
39 episodes
We’re joined by Jeff Richardson from VantageScore to discuss how inflation is impacting households. We dig into factors contributing to rising delinquencies, the expected continuation of this trend, and the impact on different consumer segments. Additionally, we address the role of stimulus on credit scores and the strategies that organizations should have in place for confident decision-making. In this episode: · Overview of VantageScore · Factors contributing to rising delinquencies · Two different consumer segments · Impact of stimulus on credit scores · Credit decisioning strategies · Incorporating AI into decision making · Opportunities of differentiated data Jeff hosts the SCORE podcast https://www.vantagescore.com/lenders/the-score-podcast/ where he interviews the new leaders shaping the credit industry, like journalists, academics, and researchers. So be sure to check that out. RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
The Equifax Risk Advisory practice explores various aspects of risk management, from evaluating and mitigating risks to implementing strategies that align with institutional goals and risk tolerance. This episode is a must-listen for professionals seeking to deepen their understanding of risk management in today's complex economic landscape. In this episode: · Role of the Equifax chief risk officer · The focus on delinquencies · Role of risk manager for cards · Implementing policies to manage credit risk for credit card issuers · Role of risk analyst · How economic challenges like a rise in delinquencies impact risk analysis · Role of chief collection officer · How the changing economic landscape impacts the chief collection officer · Biggest challenges for chief risk officer · Go-to competitive advantages of credit risk manager · Fulfilling the business goals and targets of an organization
Host Dave Sojka and the Equifax Risk Advisors team delve into the intricacies of affordability in the current economic landscape. The discussion covers a range of topics, including the impact of rising debt, inflation, and changing consumer behaviors on consumers' ability to afford housing, automobiles, and insurance. In this episode: · Consumer holiday spending · Consumer spending spikes · Consumer Price Index and inflation · Auto market · New home and rent affordability · Insurance affordability · Consumer health by generation
Did economic predictions for this year pan out? And what themes will dominate 2024? Join our Risk Advisory team as they asses how the economic outlook has really impacted consumers and industries. In this episode: __ __ RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
In part three of the Consumer Stress series from the Equifax Risk Advisory team, our experts discuss the impact of the economic and credit environment on consumer holiday spending. They cover various angles, including economic uncertainties, the transition from physical to online stores, the U.S. economic outlook, highlights of the holiday spending outlook, consumer financial options, and the international economic outlook. In this episode: __ __
David Fieldhouse, Director of Consumer Credit Analytics at Moody's Analytics, provides his economic outlook for 2024. Discussing critical factors shaping the U.S. economy, we cover the end of the student loan payment moratorium to the surge in long-term interest rates, the delicate balance of treasury yields, as well as business and consumer recommendations for navigating uncertainties in the coming months. In this episode: · Deep dive into economic challenges · Student loan payment moratorium end · Long-term interest rates surge · Interest rates and economic outlook · Unpacking the 5% treasury yield · Economic headwinds and GDP impact · Resilience amidst challenges · Bright spots in the economy · Recommendations for businesses and consumers Resources: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
Lenders can use targeted consumer data to drive daily decision making. The Equifax Risk Advisory panel of experts discuss how to dig beyond the macroeconomic indicators to determine exactly where consumer stresses lie. Our panel includes David Sojka, Jesse Hardin, Maria Urtubey, Thomas Aliff and host, Tom O’Neill. IN THIS EPISODE: · Economists and consumers have diverging views on the economy · Specific consumer stresses · Statistics on consumer stresses · What data can reveal about consumer stresses RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
Consumers are increasingly facing credit and financial stress. Our panel of Equifax experts including Tom O’Neill, Tom Aliff, Dave Sojka and Jesse Hardin, discuss the factors contributing to consumer stress and the nuances that lenders should consider when evaluating consumers. This is the first part in a series on the topic of consumer stress. IN THIS EPISODE: · Economic factors contributing to consumer stress · Why consumer stress is nuanced · Do news headlines add stress to consumers? · What are economists forecasting for the rest of the year and 2024? · How should lenders distinguish the impacts on different consumers? RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions.
Colleges and universities are facing declining enrollment rates, mounting regulatory pressure, the resumption of student loan payments, the reversal of affirmative action in admissions – and having to prove the ROI of a college degree. Lori Lindenberg, District Director of Enterprise Analytics and Strategy at Maricopa Community Colleges, joins us to discuss how Maricopa is addressing these challenges, while delivering on their student-first mission. In today’s episode: · How Maricopa is trying to reduce wage inequality for minority groups · Steps Maricopa is taking to address college affordability concerns · Anticipating and navigating government regulation · Driving efficiency and accuracy in reporting for accreditation, national education data collection programs and governing board reports · Effects of student loan repayments on proving your ROI RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions.
In this time of economic uncertainty, it’s important that lenders focus on account management strategies to detect hidden risk in their portfolios. In this episode, our Risk Advisory panel discusses the most important thing lenders need to be doing right now when it comes to account management. In this episode: · Understanding the value of a customer · Ensuring your account management strategy compliments your adjudication strategy · Frequency of account monitoring to minimize risk · Is the cost and effort worth it? · Should you consider alternative data? · How lenders develop new strategies for unique situations, such as the student debt repayments RESOURCES: Fintech Solutions: https://www.equifax.com/business/fintech/ Discover how our rich data, predictive analytics and cloud-native technologies can help fintechs successfully target and acquire more customers, mitigate fraud and make better business decisions. CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
After a three-year pause, borrowers must resume their federal student loan payments in October. In this episode, the Equifax Risk Advisory group discusses how the financial industry can navigate the road ahead by assessing their risk and finding opportunity. In this episode: · How the repayments will impact the financial industry · Will the additional monthly payment cause delinquencies to rise in other loan products · How clients can assess risk in their loan book · Strategies for addressing risk RESOURCES: Fintech Solutions: https://www.equifax.com/business/fintech/ Discover how our rich data, predictive analytics and cloud-native technologies can help fintechs successfully target and acquire more customers, mitigate fraud and make better business decisions. CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
How are fintechs managing economic headwinds and credit tightening? We talk with Ratinder Bedi, Chief Credit Officer at SoFi, about how his company is managing these challenges and how fintechs and traditional banks often differ in their approach. IN THIS EPISODE: · The biggest challenges facing SoFi this year · How the restart of student loan refinancing may impact the fintech industry · What’s in SoFi’s playbook for economic downturns · Where SoFi wants to leverage generative AI in its business · What the fintech industry is doing differently from traditional banks · How fintechs and other industries are battling the rising tide of fraud RESOURCES: Fintech Solutions: https://www.equifax.com/business/fintech/ Discover how our rich data, predictive analytics and cloud-native technologies can help fintechs successfully target and acquire more customers, mitigate fraud and make better business decisions. CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
The mortgage industry is facing high mortgage rates, low housing supply, and a tightening of mortgage credit availability. What does this all mean for the future of the mortgage industry and where does this leave consumers? Join us as Joel Kan, Vice President and Deputy Chief Economist for the Mortgage Bankers Association, provides insight. RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
Leading economic indicators are flashing red for the second half of 2023, but David Fieldhouse, Director of Consumer Credit Analytics at Moody's Analytics, says there are reasons to be cautiously optimistic. Join us for a mid-year economic update as we discuss the debt ceiling crisis, interest rate hikes, and what lies ahead for the US economy. TOPICS INCLUDE: __ __ RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
The financial industry is pulling back on some of its marketing spend. Is that the right strategy for an uncertain economy? Andrew Davidson, Chief Insights Officer at Mintel Compremedia Omni, joins us with his insights. Andrew is an expert in cross-channel marketing insights, consumer behavior, and global trends. In this episode: - A short economic update from David Fieldhouse, Director of Consumer Credit Analytics at Moody’s Analytics - How economic uncertainty is impacting consumer habits - How financial institutions are adjusting their marketing strategies - Where are the opportunities for marketing financial products - Insights on credit card marketing and mortgages - Strategies the financial industry is using to attract Gen Z RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
As economists warn of an impending recession, banks have been raising their rates and tightening lending standards. What is the impact on consumers? And how should lenders navigate this credit tightening environment? To answer these questions, we’re joined by Jesse Harden, a risk advisor at Equifax. In this episode: · In light of credit tightening, why lenders are concerned about their policies right now · How credit tightening is impacting consumers, and what we may see if the credit tightening continues · Areas of opportunity for lenders · Recommendations for how lenders can minimize their risk RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
In this uncertain economy, credit unions want to better understand the risks and opportunities in their current portfolio. In this episode, we’ll discuss that topic with Mike Schenk, Deputy Chief Advocacy Officer for Policy Analysis and Chief Economist at CUNA. We’ll also discuss: __ __ RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
Financial institutions have become more risk aware following interest rate hikes, an uncertain economy and recent challenges facing regional banks. In this episode, we’re joined by Tom O’Neill, a risk consultant with Equifax and Mark Toro, a marketing consulting leader with the Financial Services Group at Equifax to discuss: · What is a deposit growth strategy? · How can it reduce a financial institution’s risk? · What role does data play in an effective deposit growth strategy? RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
The number of small businesses has soared, and that means there is still opportunity for lenders despite an uncertain market. Patrick Reily, co-founder of Uplinq Financial Solutions, provides specific examples of how lenders can use unique data to improve modeling and grow their business. CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
What can auto lenders and dealers expect this year? Join us as Jonathan Smoke, chief economist for Cox Automotive, discusses the current slump in used retail vehicle sales and auto loan performance, his predictions for this year’s vehicle sales, as well as the industry’s bright spot, EVs. But first, we start this episode with a 3-minute economic update from David Fieldhouse, director of Consumer Credit Analytics at Moody’s Analytics. HIGHLIGHTS: :30 – Economic update from David Fieldhouse, director of Consumer Credit Analytics at Moody’s Analytics 3:35 – Jonathan Smoke reveals what the auto market has in common with Michael Jackson’s hit Beat It from the 1980’s 6:17 – Why this year’s outlook is “not bullish” 10:18 – U.S. supply chain and production is performing better than other regions in the world 12:10 – Biggest challenge for lenders and dealers this year 14:41 – How affordability is affecting the auto market 19:10 - Implications for subprime consumers 23:40 - Will the emphasis on online shopping continue? 27:15 - The EV market is the positive part of the market 32:30 - What is the industry missing or not thinking about that they should? RESOURCES: Learn more about Cox Automotive https://www.coxautoinc.com and check out Jonathan Smoke's column, Smoke on Cars https://www.coxautoinc.com/market-insights/week-52-special-edition-economic-impact-on-auto-sales-with-jonathan-smoke/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
The cost of living is rising, and consumers across the globe are feeling the squeeze. How will this impact the lending industry this year? Swarnima Pandey, an Analytics Insights Manager with Equifax Canada shares how lenders can build resiliency into their 2023 plan. This podcast episode was a continuation of the November webinar, Market Pulse: Impact of Global Economic Headwinds on the U.S. Economy. Access the presentation slides. https://www.equifax.com/resource/-/asset/presentation/resource-market-pulse-impact-of-global-economic-headwinds-on-the-us-economy-webinar-slides/ These insights came from our Global Credit Trends https://www.equifax.com/about-equifax/why-equifax/global-insights/. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and send us your questions at marketpulsepodcast@equifax.com
The final episode of our three-part series focuses on consumer and commercial lending in 2023. In our interview with Cris deRitis, Deputy Chief Economist at Moody’s Analytics, we discuss how lenders can find responsible growth in challenging economic times. HIGHLIGHTS: 1:00 - Trends in consumer and commercial lending in 2023 2:22 – Delinquencies will rise with slowing economy 3:50 – What impact will new Congressional make-up affect economy? 5:00 – National debt ceiling needs to be raised 6:30 – How to balance risk and opportunity in lending going forward 8:15 – Trade line volume and debt consolidation after holidays 9:29 – Small business applications remain high 10:45 – What aren’t lenders focusing on that they should be RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Improve the targeting of new business accounts with B2B Connect https://www.equifax.com/business/product/b2bconnect/. Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
This episode takes an in-depth look at the labor market and possible risks it may face in 2023 and beyond. We discuss with Cris deRitis, deputy chief economist with Moody’s Analytics, how lenders can adjust their business to better identify risk, as well as opportunity in the labor market. 0:50 – Analysis of labor market in 2023 2:38 – Potential shocks to the labor market 4:55 – Recognizing the variety in labor market; using data to find opportunities 6:45 – Smart portfolio management; do job losses or income matter more? 9:00 – Lenders should consider long-term labor market 11:24 – How do lenders forecast long-term trends in labor market RESOURCES: CreditForecast.com https://www.creditforecast.com/ is a joint venture between Equifax and Moody’s Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Reduce Risk and grow your portfolio with Customer Portfolio Review. https://www.equifax.com/business/product/customer-portfolio-review/ Register for Market Pulse webinars https://www.equifax.com/business/trends-insights/marketpulse/ to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast https://www.equifax.com/business/trends-insights/podcast/, and contact us at marketpulsepodcast@equifax.com
Are we heading for a recession in 2023? And what should lenders do to prepare for a year of uncertainty? We interview Cris deRitis, deputy chief economist at Moody’s Analytics to uncover those opportunities in the lending industry. Episode Highlights: 1:30 – Moody’s Analytics perspective on whether there will be a recession in 2023 2:45 – Consumer spending patterns 7:45 – How can lenders adjust their practices to find opportunities 9:39 – Lenders should also think long-term like demographic shifts Learn more about global economic trends: https://www.equifax.com/about-equifax/why-equifax/global-insights/
Businesses rely on digital photos and videos to make everyday business decisions, but they struggle with confirming the content’s authenticity. Bob Homer, VP and General Manager of Insurance and Alliances at Equifax talks with Mounir Ibrahim, VP of Public Affairs and Impact at Truepic about how the company is using data and technology to restore trust in digital images. Don't miss these highlights: 1:00 – About Truepic 2:16 – How Equifax partners with Truepic to streamline insurance industry’s underwriting and claim processes 4:25 –Truepic Vision use cases in industries that rely on digital photos and video 7:50 – The science behind the Truepic Vision technology software 11:45 – The configurability and flexibility of the platform 15:00 – Quantifying savings from using Truepic Vision 16:54 – How Truepic can help insurance companies reach economic, social and governance targets 19:30 – How Truepic can help verify warranty providers, especially in auto sales 21:05 – Ubiquity of digital tools and importance of authenticity to undergird digital transformations FIND OUT MORE AT: equifax.com/business/product/truepic-vision/ http://equifax.com/business/product/truepic-vision/
How can the auto industry improve the customer experience? The answer lies in the next generation of data tools. Join Equifax’s Brian Epo as he interviews Atul Patel, CEO and co-founder of the automotive digital marketing platfom Orbee, about the next generation of personalization and how it will transform how consumers buy their next automobile. Jump ahead to these topics: 2:30 – About Atul Patel and Orbee 5:50 – What can the auto industry do with today’s updated personalization capabilities? 14:09 – The auto industry’s customer data is siloed, and that is impeding its marketing relevancy 16:05 – How the consumer can benefit from contextual personalization 18:16 – How Atul reconciles being a MarTech and ad tech thought leader as well as a privacy advocate 23:42 – Technology has evolved to allow dealers to segment smaller groups and market to them For more information about Market Pulse: https://www.equifax.com/business/trends-insights/marketpulse/ Connect with Atul Patel on LinkedIn: https://www.linkedin.com/in/atulpatelx/ or at Orbee.com.
With the summer travel season upon us, a new wave of concerns is hitting consumer wallets. We look at how supply chain shortages, inflation, global conflict, end of COVID relief packages, and potential forthcoming recession will impact consumer credit usage and access – with a special focus on how consumer-permissioned data can make credit more accessible. Join us for the latest insights from David Fieldhouse at Moody‘s Analytics and Jeff Hollander at Envestnet | Yodlee. SHOW NOTES: As consumers feel the squeeze from inflation on their wallet, is the time ripe for leveraging consumer-permissioned data to unlock credit for certain populations? Jeff Hollander at Envestnet | Yodlee discusses the benefits of this aggregated data, while David Fieldhouse at Moody‘s Analytics discusses the latest overall economic and credit trends. Jump ahead to these topics: 1:40 – Latest economic insights & consumer credit trends from Moody‘s Analytics 6:06 – Certain populations and score bands experiencing higher rates of delinquencies 8:12 – How will the student loan population be affected when deferments end? 9:50 – What is Envestnet | Yodlee? And how can it help open access to credit? 12:05 – Has pandemic accelerated use of consumer-permissioned data? 13:50 – How do we get more consumers to opt-in to this data? 15:30 – Envestnet | Yodlee: What is the future of consumer-permissioned data? 16:50 – Moody‘s Analytics position on consumer-permissioned data Learn more about the Market Pulse podcast and webinar https://www.equifax.com/business/trends-insights/marketpulse/ series.
A slower birthrate, the aging Baby Boomers, a record number of retirements due to the COVID-19 pandemic and slowing immigration. All these factors are having a profound impact on the U.S. economy and future GDP growth. In this episode, Wayne Best, chief economist at Visa, shares his findings from a new white paper, The Golden Years Planning for the Changing Face of the United States. Find out how your businesses can prepare for these changes. Skip ahead to these topics: 1:02 – About Wayne’s background 1:40 – What inspired the new white paper, The Golden Years: Planning for the Changing Face of the U.S. 2:46 – The main findings about key populations shifts 5:40 – Is a decline in GDP inevitable? 8:35 – Will record number of new business formations offset slower growth 10:00 – Our spending habits are predictable; adjust your marketing 13:00 – Segmentation is back and is necessary for your business 15:00 – Boomers will no longer be the biggest spenders, but still relevant 17:25 – Biggest surprise of research: businesses’ focus on millennials 18:50 – Predicted growth patterns are not destiny if we change rules 20:30 – Anticipate shrinking market by growing new segments Read more insights at visa.com/economicinsights
Buy Now, Pay Later (BNPL) loans are skyrocketing in popularity. Younger, tech-savvy consumers like them because they are a fast, easy way to purchase something online or at point-of-sale in a store. Many BNPLs don’t charge interest, and they can allow consumers who may not qualify for credit to finance large purchases. In this episode, David Fieldhouse, director of consumer credit analytics at Moody’s Analytics, and Amy Frasher, FinTech product manager at Equifax, discuss the future of BNPL financing and how it impacts the traditional credit file. Jump ahead to these highlights: 1:50 - Economic update from Moody’s Analytics 4:06 - What is the BNPL tradeline, and why is it having such a big impact this holiday season? 6:00 - Who is using BNPL loans, and what are their motives for using them? 9:50 - How BNPL is more about the shopping experience 11:10 - Outlook for growth in BNPL 14:20 - How does the financial industry manage risk? What does this mean for the traditional credit file? To access the latest consumer credit and small business insights, contact your Equifax account executive today, or visit us online at equifax.com/business https://www.equifax.com/business/. You might also enjoy checking out Economy.com https://economy.com/ by Moody’s Analytics for the latest economic updates. ******We want to hear from you! What did you think of this episode? What would you like to hear our experts share in the future? Email us: marketpulsepodcast@equifax.com. RESOURCES mentioned in this podcast: __ Do you have the economic and consumer credit performance data you need? With CreditForecast.com -- a joint product created by Equifax and Moody’s Analytics -- you can access data, forecasts, scenarios, analyses and more from analysts you trust. https://www.creditforecast.com https://www.creditforecast.com/ Download our latest Credit Trends reports https://www.equifax.com/business/market-pulse-credit-trends?intcmp=mrktpls_resources_banner#resources. __
In this K-shaped economic recovery, many consumers will prosper, while others will continue to struggle. In this episode, we discuss how VantageScore could score about 37 million Americans who are conventionally unscoreable -- and what that could mean for the economy. Join Katherine Doe of Equifax as she interviews David Fieldhouse, director of consumer credit analytics at Moody’s Analytics, and Emre Sahingur, senior vice president of predictive analytics research and product management at Vantage Score. This portion of the transcript is edited for brevity. Listen to the full podcast for more great insights. KATHERINE: It feels like we're starting to see the path forward to the normal-normal, and not just the pent up demand normal. So that's good to hear. We're talking a lot about that top “leg” of the K and that path forward, but there's that opposite path as well -- a whole different population of consumers that are not in that position. So I'd love to hear from you a little bit more of what you're seeing on the credit side for that divergent path in the K. DAVID: The population that I like to study when I'm thinking about the other half of the K, the individuals who maybe are not as well positioned right now, I usually look at the renter population. That's usually the group that I focus on. We estimate there are about 5.6 million delinquent renters in the United States. So this is about 13% of all renters. To put that in context, our best estimate is that about 6% of renters are typically delinquent. In terms of severity amongst the delinquent population, we're expecting that they're about three months behind in payments when you put together rent and utility, and those typical payments that need to be made. Things have actually improved. So, we were talking earlier this year about a potential rental eviction crisis. Things are on the right path to staying away from that true crisis. What we need to do is have rental assistance from the government actually get distributed. There's been a lot of administrative hurdles as money passes from state to local governments to finally make it to the renters. But there are definitely 5 million renters out there right now that are probably not feeling as optimistic about the economic situations. And we need to be cognizant of this group. KATHERINE: And this is where we can dig in a little bit more to your research, Emre. I would love to hear from your perspective an overview of the unscoreable and invisible populations that you've been studying and what VantageScore was seeking to better understand with that initiative. EMRE: You're absolutely right that there's actually a significant focus on the topic of credit invisibles right now. Lack of a credit score certainly hinders that consumer's ability to access mainstream credit products. And that contributes to financial inequities and the growing wealth gap for historically disadvantaged consumers. As you mentioned at the beginning of the podcast, a foundational objective for VantageScore has always been centered around financial inclusion. Innovations have been aimed at really trying to increase the population of scoreable consumers and to provide a fair and accurate representation of credit risks so that they can have a fair shot at gaining access to mainstream credit products. Now coming to our research, CFPB performed an analysis back in 2015, which stated that there were roughly about 45 million consumers who were credit invisible. But we know that not all of these consumers are credit invisible, really. They're invisible only to some of the legacy systems and models that have not been really updated for quite some time. In our research, we aim to provide an estimate of the total population of consumers 18 years or older, who are scoreable by VantageScore. And we looked at the 2019 census numbers, and we note that there were about 48 million consumers who are not receiving a score through conventional models due to their stringent scoreability criteria. And we can estimate that VantageScore can get to about 37 million of these consumers, meaning we can actually reach about 96% of adults in the United States and provide a reliable and accurate score for them. In our research we performed recently, our aim was to really better understand these newly scoreable consumers. Study what information they have in their credit profiles. Understand some of the demographics such as their age distributions, their income distributions. Understanding that race and geography representation. And we also looked at the association between scoreability and some of the key socioeconomic indicators, such as income levels, education, home ownership, and access to financial services in the communities consumers live in. We also looked at how race interacts with all of these different factors. A key goal for that research was to really identify consumer segments that we felt would be most benefiting from a more inclusive credit scoring model. For more on this interview, listen to our full podcast. To access the latest consumer credit and small business insights, contact your Equifax account executive today, or visit us online at equifax.com/business https://www.equifax.com/business/. You might also enjoy checking out Economy.com https://economy.com/ by Moody’s Analytics for the latest economic updates. ******WE WANT TO HEAR FROM YOU! What did you think of this episode? What would you like to hear our experts share in the future? Email us: marketpulsepodcast@equifax.com. RESOURCES MENTIONED IN THIS PODCAST: __ Download the VantageScore report, “Combating Inequality with Inclusivity: Who Exactly is Credit Invisible and How are Racial Disparities Impacting Minority Homeownership Opportunities?” https://vss.credit/inclusivity https://protect2.fireeye.com/v1/url?k=fa098a9a-a592b251-fa09a04c-86ce7c8b8969-467cbb5989022f79&q=1&e=7ce5ac4e-0cbe-43e7-9e21-a7289cc58852&u=https%3A%2F%2Fvss.credit%2Finclusivity Do you have the economic and consumer credit performance data you need? With CreditForecast.com -- a joint product created by Equifax and Moody’s Analytics -- you can access data, forecasts, scenarios, analyses and more from analysts you trust. https://www.creditforecast.com https://www.creditforecast.com/ Download our latest Credit Trends reports https://www.equifax.com/business/market-pulse-credit-trends?intcmp=mrktpls_resources_banner#resources. __
