Consumer Solutions for Business
Powering Consumer Facing Credit Solutions
Email Us: ConsumerSolutionsSales@equifax.com
Interested in accessing consumer consented credit report data to power your business needs?
Equifax Consumer Solutions can help you access consent based credit report data to power your business needs. Whether that's by simply assisting in the pre-population of initial data or building a bespoke consumer service, you can do this by utilising our market leading data and insight, driving better engagement and behaviours and helping consumers live their financial best!
Below you’ll find details of all the services we offer.
What our clients say
At Sprive, we really appreciate Equifax’s forward-thinking approach alongside its world-class data services. It has made them the perfect partner to help us build pioneering technology that is now helping homeowners across the UK save money on their mortgages.
Since the very start, our relationship with Equifax has proven to be highly valued and of significant strategic importance to us. Together, we have been able to deliver exceptional user experiences to our renters, and generate meaningful revenue into our business.
Integrating Equifax into our solution was a pleasure. The process took less than a month in total to integrate and go live. The best part was the support we received during the integration…It was second to none. We received responses to our queries in a timely fashion and the data we now receive plays an integral role within our business.
Building a more inclusive credit system around the world requires the support of exceptional partners like Equifax. Our work together has proven to be invaluable in servicing thousands of newcomers looking to apply for financial products and start their lives in a new country.
Equifax’s leading data services, together with an exceptional account management team, have proven to be of immense support and importance to us. Together we are giving more visibility and better access to financial products, to a very important segment of the market not being served by the high-street.
Credit Score
Provision of the enhanced Equifax credit score as part of a full credit report
or
as a standalone feature.
Credit Report
Use consented data to better understand your customers financial position,
enabling
a fully rounded view of what key aspects are affecting their credit score. With
Equifax
Characteristics, you can simplify the data in a more readable format to help drive
positive behaviours and strong engagement with consumers.
Equifax Score Simulator
Our new score simulator can help consumers understand the impact their
behaviours
have on their credit score, allowing them to make informed decisions.
Authentication
Market leading services to ensure your Consumers are fully authenticated
prior to accessing their credit report & score. Equifax can offer products such
as
Open
Banking ID and also biometric document and liveness verification, ensuring the most
frictionless user journey possible whilst remaining secure and robust.
Open Banking
Equifax award-winning Open Banking solutions can not only assist in the
financial
assessment of consumer creditworthiness, but also offer engaging ideas as a
consumer-
facing product. Whether you want to show consumers their financial health via Score
Plus
by
combining their bureau score with their Equifax FHI score, fully categorise their
bank
account
transaction data, or somewhere inbetween, Equifax has a solution.
Why Equifax?
The final and perhaps the most important question when deciding on your next
credit
solutions partner. A dedicated team based across the UK catering to some of the
biggest
names in the market as well as those offering niche products.
Credit Score
- Easy to interpret score movements | the recently updated Equifax Score is based on only 24 characteristics, resulting in easy interpretation of score movements and drastically reducing consumer score queries;
- Real-world model replication | the new score is highly correlated to the majority of client scores and consumers are evenly distributed across the spectrum replicating the actual population;
- Enhanced score analysis | in addition to the intuitive characteristics used, the score has been scaled between 0 and 1000 to assist consumer interpretation;
- Clear and simple bandings | Easy to interpret and reflective of real life lending decisions providing users with an accurate and transparent view of their creditworthiness.
Credit Report
- The enhanced Equifax Credit Report has been created to be usable, accessible and more accurate than ever. It is also completely configurable, you can show as little or as much data back to your consumers as you wish. Choose whatever fits your product offering best!
- Partners will be able to provide their users with essential data that lenders use to make their borrowing decisions and information to help them identify the things that are impacting their ability to get credit.
- Bureau credit data - Available in pre-coded Red, Amber and Green data characteristics and detailed raw data formats to ensure consumers understand the data used to calculate their credit score.
- Data can be refreshed depending on your requirements, whether that’s monthly, weekly or daily.
Equifax Score Simulator
- Score simulator / Budget planner - Interactive tool providing gamification options to our bureau score.
- Equifax can supply partners with the actual score calculations for 8 of the actual characteristics that power the real score.
- Partners can then also use their own decisioning criteria to present offers and eligibility criteria to users based on the data that they have simulated
Authentication
- Identity, Fraud and Financial Crime Compliance solutions from ‘Kount’.
- AI Driven Fraud Protection and Online trust
- Solutions for Account creation, Account log in, payment protection, bot attacks and more.
- Open Banking ID - Multi-factor, PSD2 compliant, Strong Customer Authentication
Blog/Press release/testimonials - Find out what our growing number of business partners have to say about using Equifax Consumer Solutions for Business.
Open Banking
Through Equifax’s robust and secure APIs, data can be accessed quickly and easily. A full UAT environment is provided during integration and ongoing support is on hand to help you develop and evolve your consumer facing solutions.
OBID- ‘Open Banking ID’ is a stand alone authentication journey.
- Multi-factor, PSD2 compliant, Strong Customer Authentication.
- Consumers confirm their identity in seconds by logging into their bank account in their usual way and negates the need for clunky KYC processes.
- Equifax can now provide your users with 3 consumer facing scores to ensure they understand the complete picture of their creditworthiness.
- The Equifax credit bureau score designed specifically for consumers.
- Our Financial Health Index score is based solely on open banking transactional data.
- ‘Score Plus’ brand new for 2022 it presents a new score to users showing how their bureau score can move up or down once their bank account data has also been reviewed.
Visit https://developer.equifax.co.uk/ for more information?
Why Equifax?
- More people view Equifax data daily in the UK than any other bureau.
- We build our characteristics at address level resulting in the most granular data out of all the UK bureaus.
- We are the only bureau investing in solving the outage issue long term as we invest in always-on technology.
- We have the most powerful Open Banking categorisation engine in the market.
- We hold more Telco data than any other bureau.
Visit https://developer.equifax.co.uk/ for more information?