Press Releases

383 Articles
Navigating PS24/2: Best Practices for Lenders
PS24/2 has changed the game for borrower support. Understanding and implementing these new regulations is essential for protecting your consumers and your business. In this blog we provide a guide to PS24/2, offering practical strategies for early intervention and tailored support for consumers that can drive both compliance and growth.   What is PS24/2? The FCA’s PS24/2 Strengthening protections for borrowers in financi ...
Uncovering competitive insights: How Open Banking data could transform mark ...
In today’s data-driven world, understanding consumer behaviour goes beyond monitoring your brand’s performance; it involves analysing broader market dynamics to gain insights into customer spending patterns, preferences, and competitor interactions. However, many brands face challenges in capturing accurate market intelligence due to reliance on limited internal data, slow and outdated reporting methods, and fragmented customer insights. ...
Protecting Businesses and Banks from Authorised Push Payment (APP) Fraud
Authorised Push Payment (APP) fraud, exploiting real-time payment systems, has emerged as a major threat and the Payment Systems Regulator (PSR) implemented the Authorised Push Payment (APP) scam reimbursement framework in October, In this blog I’ll explain what APP fraud is, the scale of the problem, why UK regulators are focusing on this type of fraud and the ways which financial services firms can tackle this issue. What ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 mounts, fi ...
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 ...
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 ...
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 ...