Equifax and Georgia Tech Announce Financial Inclusion Research Partnership

Rhea-AI Summary

Equifax (NYSE: EFX) has partnered with Georgia Tech to enhance access to credit for underserved consumers. The collaboration will utilize Equifax's anonymized data to boost research at the Financial Services Innovation Lab, aiming to foster fintech entrepreneurship in Atlanta. Georgia Tech’s lab connects academic resources with the financial services industry, promoting innovative solutions to improve financial health. This partnership builds on previous support from Equifax for Georgia Tech’s doctoral research and projects since 2016.

Positive

• Collaboration with Georgia Tech aims to boost fintech innovation and financial inclusion.
• Use of Equifax’s anonymized data to support research on consumer credit access.

Negative

• None.

ATLANTA, Jan. 21, 2022 /PRNewswire/ -- Equifax® (NYSE: EFX) and the Georgia Institute of Technology ("Georgia Tech") have announced a new research partnership designed to develop new ways to reach underserved, underbanked and credit-rebuilding consumers. As part of this relationship, the Financial Services Innovation Lab at Georgia Tech will leverage anonymized Equifax data assets to further its innovative research designed to increase consumer access to credit and Equifax data scientists will provide hands-on data education to speed research time. The research partnership is designed to stimulate growth in fintech entrepreneurship in Atlanta.

"We appreciate having access to comprehensive alternative data sources and credit modeling experts through the Equifax Data Science Lab," said Professor Sudheer Chava, Alton M. Costley Chair at Scheller College of Business, Georgia Tech. "We are excited to take the next step to strengthen our partnership with Equifax in conducting research to improve people's financial lives."

The Georgia Tech Financial Services Innovation Lab aims to be a hub for finance education, research and industry in the Southeast United States. The lab acts as a platform to connect faculty and students across Georgia Tech with the financial services industry and fintech entrepreneurs. The fintech industry is one of Georgia's fastest-growing sectors, and Atlanta is a major global center for financial technology. Equifax and Georgia Tech intend to facilitate inclusive innovation in the fintech industry through university sponsored startup accelerator programs.

"Our purpose is to help people live their financial best. We strive to create economically healthy individuals and communities everywhere we do business," said Christopher Yasko, Senior Vice President, Equifax Data Science Lab. "Partnering with Georgia Tech enables us to work hands-on with the next generation of data scientists to create solutions that can positively impact consumers for decades to come."

Equifax has sponsored doctoral dissertation research and capstone projects within the Georgia Tech Scheller College of Business since 2016. For more information on the Financial Services Innovation Lab at Georgia Tech, please visit: https://fintech.gatech.edu.

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 13,000 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
mediainquiries@equifax.com 

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SOURCE Equifax Inc.

FAQ

What is the purpose of the Equifax and Georgia Tech partnership?

The Equifax and Georgia Tech partnership aims to enhance access to credit for underserved consumers and stimulate fintech entrepreneurship.

What role does Equifax play in the Financial Services Innovation Lab?

Equifax provides anonymized data and data education to accelerate research at the Financial Services Innovation Lab at Georgia Tech.

When was the partnership between Equifax and Georgia Tech announced?

The partnership was announced on January 21, 2022.

What is the significance of the Financial Services Innovation Lab?

The Financial Services Innovation Lab serves as a hub for finance education and industry connection, promoting fintech development in the Southeast U.S.

How long has Equifax supported research at Georgia Tech?

Equifax has sponsored doctoral dissertation research and capstone projects at Georgia Tech since 2016.