ATLANTA, Oct. 25, 2021 /PRNewswire/
-- Equifax (NYSE: EFX) is expanding decision intelligence
for lenders and other businesses with its enhanced cloud-based
OneView™ report. The visual report, which sets a new industry
standard for how credit data insights are delivered,
displayed, and provided to businesses of all sizes, can now include
alternative data insights from specialty financial credit reporting
agency DataX delivered alongside traditional credit data and income
and employment information from The Work
Number® database. Delivering differentiated data
assets that 'Only Equifax' can provide in a single transaction
helps businesses more quickly open mainstream financial
opportunities to more U.S. consumers.
According to the Federal Reserve, 63 million American adults are
either unbanked or underbanked. These individuals potentially face
higher costs for borrowing money and barriers to housing and
employment. Helping more of these consumers obtain access to
mainstream financial services and products requires new insights
into individual financial history. The addition of information from
DataX to the existing OneView report by Equifax provides businesses
with more robust data on thin-file, underbanked and credit
invisible consumers with a continuous stream of consumer loan
performance data from businesses nationwide, including small-dollar
installment lenders, rent-to-own businesses and furniture financing
companies.
"Two people with exactly the same credit score can have very
different financial profiles and very different financial needs,"
said Mark Luber, Chief Product
Officer for Equifax United States Information Solutions (USIS). "By
incorporating alternative data sources from DataX into our OneView
solution, we are providing businesses with the expanded consumer
views they need to support more informed decision-making and
promote financial inclusion."
The OneView report, now available from the Equifax for
Developers Application Programming Interface (API) Portal and
Equifax Eport Cloud, summarizes key consumer information on a
single page to help financial institutions and other businesses
focus on the information that best suits their decision models and
priorities. With OneView, businesses can obtain a colorful,
graphical report or a simple, text-only display - both designed for
maximum readability. OneView is powered by the industry's first
drag and drop configuration engine, allowing businesses to maximize
the "tiled" format of this unique report format for a truly custom
report view - and to change report views as needed.
OneView is the next generation of the Equifax TotalView product,
which provided the industry's first full view into credit,
employment and income status, with traditional credit data
delivered alongside employment and income data. Current Equifax
OneView customers with existing access to DataX can leverage this
new functionality today. New customers can visit Equifax.com for
additional details. In addition, Equifax anticipates that
supplementary data from the recent acquisition of Teletrack® will
be integrated into DataX and the OneView report in 2022.
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
FOR MORE INFORMATION
Kate Walker for Equifax
mediainquiries@equifax.com
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SOURCE Equifax Inc.