Corporate responsibility

Corporate responsibility at Experian is a way of doing things that underpins all aspects of the business and is intrinsically linked to the risk management framework and supports the business strategy’s focus on sustainable growth.

Click here to take a closer look at how we are creating a positive environment for growth

Corporate responsibility is about doing business with integrity, thinking ahead about the implications of business activity for a range of stakeholders. For Experian, business is about helping the world make smarter decisions but, at the same time, doing the right thing for our employees, consumers and suppliers, as well as clients and shareholders. Experian’s six key responsibilities were originally defined in 2007/8 and a CR governance structure and strategy set out to ensure stakeholders’ views are considered and that responsibilities to wider society are built into business decision making. The six responsibilities play a part in supporting Experian’s sustainable growth. The link is not coincidental; when defining the six key responsibilities, the Group looked at what was most material, to risk and opportunity. The leaders accountable for each responsibility set an annual CR related objective and the benefits can be seen to directly support four of the five goals and the core strategic framework.

Embedding CR

The CR governance process evolved this year to give greater accountability to the people who naturally lead the six responsibilities, aligning the CR structure with Experian’s matrix management. These six responsibility leaders set annual objectives and provide reports on progress to the Board.

The data gathering and performance management systems for CR data have also developed during the year. Coordinators and management champions are now able to provide regional performance data on a regular basis and will commence CR Management Information reporting from 2011/12.

A project to make CR more relevant to employees was initiated at Experian this year and will show considerable benefits in the coming year. Steps were also taken to embed social, ethical and environmental considerations in product development processes and a project was set up to engage with a wide range of stakeholders over their views on CR at Experian.

Innovating for social benefit

Investment in innovative products and services with a strong benefit for society, Experian’s Big Ideas’ programme, has been particularly successful this year.

Tackling financial exclusion

In 2009 Big Idea funding of US$150,000 was allocated to support research into a microfinance opportunity with significant social benefits. The proposition was to improve the efficiency of the microlending process, reduce the cost to the end user and improve access to finance. During early 2010 the business model was tested; relationships were established with Microfinance Institutions and the World Bank and an initial scorecard developed. A new business model was approved and the Experian MicroAnalytics business launched in April 2010, with a mission to contribute directly, over the next 10 years, to the financial inclusion of over 150m unbanked-adults. In June 2010 it completed a branchless banking pilot in the Philippines and signed its first two deals in December 2010.

Improving workplace diversity

Another Big Idea also came to fruition during the year. Using the experience and knowledge of naming conventions, built up over many years, Experian worked with Professor Richard Webber to develop Experian’s Diversity Monitor tool that can help analyse a set of first and family names and provide insight to the likely origins of the people listed. Trevor Philips, Chair of the Commission for Equality and Human Rights in the UK, has commented on the product’s significant potential as a tool to support diversity planning in the workplace. Experian has made its first sales and developed case studies based on the product’s benefits. It has also used the tool to look at its own diversity in the UK workplace and to help ensure it is in line with the diversity of the local population. The UK Equalities Act legislation came into force in April 2011 creating more focus on this area.

Focusing the community programme

Central funds are granted to Experian’s regions during the year based on bids assessed by the CR management champions. The proportion of the total available grant focused on financial education or supporting entrepreneurial activity is expected to be at least 75%. This year the proportion was 88% with North America and Brazil spending 100% of their allocated funds on focused projects.

Back to top