Press Releases

380 Articles
Equifax marks 30-year anniversary of its Wexford office
Credit reference agency Equifax has celebrated the 30th anniversary of its Wexford office site in Ireland, marking three decades of growth and impact. Established in 1994 with a small team focused on manual capture of commercial company data from Companies House, the office has since evolved into a major local employer, with nearly 100 staff members supporting Equifax clients and consumers. The anniversary celebratio ...
December 02, 2024
Equifax UK launches first-of-its-kind affordability solution for lenders
Credit reference agency Equifax UK has launched a first-of-its-kind solution for lenders, combining bureau insights with real-time transaction data accessed via Open Banking and statistical estimates to boost affordability assessments and consumer outcomes. Traditionally lenders have relied on a mixture of consumer affordability assessment models. Industry research from Equifax found nearly a quarter (24%) of organisations relied on a co ...
December 02, 2024
OneID® and Equifax create new solution to streamline customer onboarding
Equifax UK has partnered with digital identity provider OneID® to integrate Equifax’s Apply+ to create an award-winning solution which helps overcome the persistent challenge of customer identity verification and application abandonment in credit journeys. By integrating Equifax’s Apply+ into OneID’s document-free digital identity verification, customers will be empowered to verify their identities without the need for traditional ID ...
December 02, 2024
Equifax UK launches Open Banking solution to simplify utility and telecom s ...
Equifax UK has launched a new digital customer onboarding journey to help certain utility and telecoms providers automate customer eligibility assessments for social tariff discounts, making it simpler and easier for consumers to apply, and helping them access discounts and special pricing plans available for households facing financial hardship. The award-winning solution, Tariff Connect, uses a digital application form and Open Banking ...
December 02, 2024
The Future of Lending: Why automating open banking data Is a game-changer f ...
For years, lenders have leaned on credit bureau data to automate decisions, ensuring speed and consistency with pre-set policies and risk frameworks. However, open banking introduces a wealth of real-time insights that represent a new frontier in lending automation—one that remains largely untapped. While many lenders have begun supplementing their decision-making with open banking data, about one-third of Equifax’s clients are ...
October 18, 2024
Tackling financed emissions: Closing the environmental data gap
In today’s world, the role of financial institutions in combating climate change is gaining significant attention. Banks, as major financiers, are increasingly being held accountable for the carbon emissions linked to their lending and investment portfolios.  These emissions, known as "financed emissions," pose both regulatory and reputational risks for banks. As the pressure to transition to a net-zero economy m ...
October 18, 2024
Navigating the challenges of social tariffs in the utilities and telecoms s ...
With rising costs of living, increasing consumer debt, and increased regulatory focus, utility companies are exploring innovative ways to offer social tariffs. Use of digital automation is a significant opportunity for these companies to  support financially vulnerable customers while maintaining operational efficiency. Equifax's Tariff Connect is a groundbreaking solution that  leverages Open Banking technology, transforming the process of ass ...
August 08, 2024
Making Ends Meet: Who is Paying the Price? A Summary of the 2024 Equifax Fi ...
In the dynamic world of finance, understanding the intricate patterns of consumer behavior and financial health is pivotal. Equifax, a global data, analytics, and technology company, alongside its subsidiary TDX Group, delves into these patterns in their 2024 Financial Health Report. This report, titled "Making Ends Meet: Who is Paying the Price?", leverages data and insights from millions of consumer interactions to provide a compreh ...
July 16, 2024
Tackling late and missing payments: A critical issue for UK SMEs and the b ...
In the vibrant landscape of UK small and medium-sized enterprises (SMEs), one persistent challenge threatens to undermine growth and stability - late and missing payments.  Having previously launched several financial products to help SMEs run and grow their businesses, I’m aware this issue is not just a minor inconvenience; it represents a significant financial burden, affecting cash flow, operational efficiency, and ...
July 15, 2024
Equifax Becomes the First of the Three Main UK Based Credit Reference Agenc ...
Equifax Limited has become the first of the three main UK based credit reference agencies to be named on Crown Commercial Service’s (CCS), Open Banking Dynamic Purchasing System (DPS) framework for Open Banking services.  This development allows Equifax to bid to provide Account Information Services (AIS) to any UK public sector body that uses the DPS. These include central government departments and wider public sector bodi ...
May 30, 2024
Equifax UK partners with Homely to power platform for aspiring homeowners
Equifax UK has partnered with free-to-use platform Homely to provide Open Banking and credit insights to help support first-time buyers and those moving up the property ladder with getting mortgage-ready. Homely is working to advance and digitalise the home-buying process for UK consumers, making it simpler and more rewarding by combining data, rewards, education and recommendations to prepare people for homeownership. T ...
March 27, 2024
The increasing importance of accurate affordability checks
Whilst every lender checks whether a customer has a history of repayment as part of creditworthiness assessment, but whilst inflation might be slowing, prices remain high, meaning lenders are more focused than ever on understanding if consumers can afford to take on credit. In a recent Equifax industry survey, 22% of financial services companies told us complying with consumer duty was the number one challenge they face in asses ...
March 01, 2024