ATLANTA, Sept. 7, 2021 /PRNewswire/ -- Equifax® (NYSE:
EFX) announced today that it has completed the acquisition of
Teletrack®, a U.S. leader in alternative credit data, from
CoreLogic®. The definitive agreement to acquire Teletrack was
announced on July 27, 2021. The
combination of Teletrack with the Equifax DataX business will
create a leading U.S. specialty consumer reporting agency, with
data on more than 80 million thin-file, unbanked, underbanked and
credit rebuilding consumers that can help to expand access to
credit through alternative data insights. The transaction is not
anticipated to have a material impact on 2021 Equifax financial
results.
"Teletrack is one of 8 acquisitions totaling approximately
$3 billion that Equifax has announced
or completed in 2021. We are significantly reinvesting Equifax
outperformance and leveraging the Equifax Cloud towards accretive,
strategic, bolt-on M&A," said Mark W.
Begor, CEO of Equifax. "The addition of Teletrack expands
the breadth of differentiated data assets that 'Only Equifax' can
provide. This powerful source of information will enable lenders
and service providers to access more alternative data sources in
credit decisioning that can help open new consumer financial
opportunities."
The planned integration of Teletrack with DataX, an Equifax
business operating within the company's United States Information
Solutions (USIS) business unit, is made possible by the Equifax
cloud transformation. Leveraging the Equifax Cloud, Equifax has
moved data exchanges into a cloud-native enterprise data management
platform that is deployed regionally in 24 global markets. This
Equifax data fabric is designed to speed time to acquisition
integration and also delivers the ability to powerfully ingest, key
and link, and enrich multiple sources of data with advanced
analytics, including artificial intelligence and machine
learning.
"Helping more consumers obtain access to mainstream financial
services and products requires new insights into individual
financial history. Teletrack and DataX have a shared commitment to
making non-traditional credit information more accessible to U.S.
financial institutions and service providers," said Sid Singh, president of Equifax USIS. "Bringing
the combined DataX and Teletrack data assets to our unique data
fabric powered by the Equifax Cloud will enable us to create new
solutions that can be used in conjunction with alternative data
assets like consumer-permissioned bank transaction data and telco
and utility payment history to create more products that drive
greater access to credit and promote financial inclusion."
Teletrack is now part of the USIS business unit at Equifax. For
more information on the use of Equifax differentiated data assets
in credit decisioning, please visit Equifax.com.
FORWARD-LOOKING STATEMENTS
This release contains
forward-looking statements and forward-looking information. All
statements that address our performance and events or developments
that we expect or anticipate will occur in the future, including
statements relating to our future operating results, expected
growth and performance, and ability to successfully integrate the
Teletrack acquisition, and similar statements about our business
plans are forward-looking statements. We believe these
forward-looking statements are reasonable as and when made.
However, forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations or
projections. These risks and uncertainties include, but are not
limited to, those described in our 2020 Form 10-K and subsequent
SEC filings. As a result of such risks and uncertainties, we urge
you not to place undue reliance on any forward-looking statements.
Forward-looking statements speak only as of the date when made. We
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe
knowledge drives progress. As a global data, analytics, and
technology company, we play an essential role in the global economy
by helping financial institutions, companies, employers, and
government agencies make critical decisions with greater
confidence. Our unique blend of differentiated data, analytics, and
cloud technology drives insights to power decisions to move people
forward. Headquartered in Atlanta
and supported by more than 12,000 employees worldwide, Equifax
operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia
Pacific region. For more information, visit Equifax.com
ABOUT DATAX, AN EQUIFAX COMPANY
DataX, an Equifax
company, is an industry leading Fair Credit Reporting Act (FCRA)
regulated specialty finance credit reporting agency (CRA) and
alternative data provider offering premier financial management
solutions to businesses through a suite of advanced products. The
insights gleaned from DataX's services empower businesses to manage
risk proactively, safeguard customers from fraud, lower customer
acquisition costs, and increase revenue
opportunities. www.DataXltd.com
ABOUT TELETRACK
Teletrack is a leading Specialty
Consumer Reporting Agency ("CRA") that provides non-traditional
credit data and insights to the alternative financial services
industry. Teletrack provides differentiated consumer insights to
enable clients to make informed lending decisions and monitor
existing loans portfolios
ABOUT CORELOGIC
CoreLogic, a leading provider of
property insights and solutions, promotes a healthy housing market
and thriving communities. Through its enhanced property data
solutions, services and technologies, CoreLogic enables real estate
professionals, financial institutions, insurance carriers,
government agencies and other housing market participants to help
millions of people find, buy, and protect their homes. For more
information, please visit www.CoreLogic.com.
FOR MORE INFORMATION
Kate
Walker for Equifax
mediainquiries@equifax.com
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SOURCE Equifax Inc.