Experian is a financial services heavyweight. But its portfolio is dominated by just one product – Credit Expert. Experian came to Sense Worldwide to help identify disruptive opportunities outside of the core business that would drive growth in years to come. They wanted to future-proof the business against new entrants.
Personal data was identified as a key area of opportunity. So we created an open innovation platform that brought together leading-edge entrepreneurs, designers and technologists in London and San Francisco. We adopted agile methodologies to iterate winning propositions within a beta testing community. Ultimately this culminating in two-day hackathons in the two cities.
Experian carries out annual Hackathons to this day; with the 2020 edition moving online due to COVID-19. The propositions ideated at these sessions are then picked up by Experian’s innovation team. It has proved an effective way to deliver breakthrough strategies.
Experian is a behemoth and due to its size, it struggles to match the agility of challengers, startups and disruptors. Our strategy was to utilise the brand’s strengths, relying on smarts rather than speed.
To develop ideas that would stand the test of time we needed insight from those living at the edge of culture. Who better to help build Experian’s innovation pipeline than entrepreneurs who are already creating the future?
We engaging entrepreneurial communities in both the UK and USA. These radical thinkers shared insight and techniques that enabled us to create a process that would identify valuable ideas and get them to a point that the in-house innovation team could deliver viable offerings in a timely manner.
The entrepreneurs worked together to designed market-ready B2C propositions powered by personal data.
Working with Sense Worldwide is seamless, it’s like having one team.
Managing Director, Strategy & Product Innovation, Experian