Equifax Accelerates Fintech Innovation With New InnovationX Immersive Experience
Equifax (NYSE: EFX) launched InnovationX, an immersive experience designed to facilitate fintech innovation. This initiative allows organizations to quickly validate financial services ideas using real-time data, advanced analytics, and techniques such as Explainable AI. Led by Peter Maynard, the new Senior VP of Data and Analytics, InnovationX aims to enhance customer experiences in a competitive market. Participants can access unique data assets, customize modeling options, and improve fraud prevention while fostering personalized services.
- Launch of InnovationX aimed at accelerating fintech innovation.
- Access to real-time data and advanced analytics for faster market solutions.
- Utilization of patented Explainable AI and Machine Learning techniques.
- None.
ATLANTA, April 27, 2021 /PRNewswire/ -- Equifax (NYSE: EFX) has introduced a new InnovationX immersive experience to help fintechs, established financial institutions and other organizations accelerate innovation in today's competitive market. This unique testing ground for new financial services products enables organizations to validate ideas and understand new markets with ready access to real-time, cloud-native data and advanced analytics that only Equifax can provide. New innovations are developed in close collaboration with Equifax executive leadership and the best-of-the-best in data science. InnovationX will be led by Peter Maynard, Ph.D, the newly appointed Senior Vice President of Data and Analytics for Equifax United States Information Solutions (USIS).
"E-commerce and financial services have converged. Customers expect the same convenience, flexibility and personalized experience from the financial services companies they interact with as they do major e-commerce retailers," said Sid Singh, Equifax USIS President. "InnovationX was created to help financial institutions of all sizes create experiences that stand apart from the competition. We're inviting organizations to test and validate their ideas using our unique data and analytics expertise - working hands-on with Peter Maynard and our USIS Data and Analytics team to innovate at the speed of now."
InnovationX brings fintechs and other companies the insights they need to drive change for their customers and smarter revenue for their businesses. By participating in the InnovationX immersive experience, organizations can:
- Quickly test and bring new solutions to market with real-time access to data and analytics, and cloud-native, differentiated data assets that only Equifax can provide. Equifax Data Fabric will enable access to the precise data needed to expand an organization's view of their customers, create new financial opportunities for unbanked or underbanked individuals, and make more informed decisions while managing risk.
- Leverage patented Equifax Explainable Artificial Intelligence (xAI) and Machine Learning (ML) techniques to analyze massive structured and unstructured data sets rapidly;
- Choose from a menu of customizable options to create the model configuration with segmentation, data source and modelling techniques that works best for their business; and
- Drive greater Digital Identity Trust for each identity behind every payment, account creation and login event – blocking fraud in real time and enabling personalized customer experiences.
"Predictive data and advanced analytics are at the heart of fintech innovation and competitive advantage," commented Maynard. "InnovationX enables us to work side-by-side with customers to help them harness the power of data as they prepare to launch new solutions, remain ahead of changing credit risk patterns, reduce fraud and create better customer experiences in an increasingly competitive environment."
Maynard has spent seven years in enterprise analytics leadership roles at Equifax. He brings more than two decades of experience to the role of Senior Vice President of Data & Analytics, and joined Equifax from a major financial institution, where he spent more than 10 years leading application risk and response modeling. Under Maynard's leadership, InnovationX will offer businesses the insights they need to deliver convenience, flexibility and a more personalized experience to their customers.
The Equifax InnovationX immersive experience is open now in Atlanta, with in-person and virtual sessions designed in accordance with COVID-19 social-distancing guidelines. For more information, or to get started, visit Equifax.com.
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 11,000 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
FOR MORE INFORMATION
Kate Walker for Equifax USIS
mediainquiries@equifax.com
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SOURCE Equifax Inc.
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