New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

Optimising Originations Report

The challenges, priorities and moving forward

Optimising Originations Report

Digital disruption is accelerating the pace of credit decision making, expanding understanding of borrower behaviour and creating new opportunities to enhance the customer experience. Our Optimising Originations research reveals digital disruption is the “new normal” and organisations are challenged by customers, compliance as well as by competitors, whilst focused on driving cost reduction and operational efficiency. Open Data and Open Banking are likely accelerating the need to transform across the customer lifecycle, with originations being the starting point. Businesses identify many shortcomings in their current originations processes and can readily identify areas and key performance indicators (KPIs) needing improvement.

 

There is a sense of urgency in plans to overhaul originations and a need for practical advice on how to best enhance originations in order to positively impact the whole customer lifecycle. Although originations teams vary in their approaches, they are unified by an appetite to evolve. Access to data and automation emerge as cornerstones of improvement ambitions, alongside a recognition that skills, culture and innovation also play a key role in driving originations agility. This ultimately propels customer acquisition to become the benchmark for other parts of the customer lifecycle and business.

 

  

89% of businesses

say disruptive competitors are forcing them to rethink how they manage the entire customer lifecycle

  

84% of businesses

say getting originations right helps them improve across the entire customer lifecycle

 

  

65% of businesses

say the key barrier to increased automation of originations is cost

  

67% of businesses

say they need to make significant improvements to originations performance in the next 12 months so as not to lose customers and revenue

 

To learn more about the findings, download your copy of the report today.

Read full article

Experian

By Experian 11/18/2019

2019-Experian-Optimising-Originations-Report

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