Equifax Announces 2022 Developer Challenge and Accelerator Program Finalists

Rhea-AI Summary

Equifax (NYSE: EFX) concluded its second annual developer challenge and accelerator program aimed at fostering financial inclusion. The program accepted U.S.-based software developers to create solutions leveraging Equifax Cloud APIs. The event, held in November at Equifax's Atlanta headquarters, showcased 10 finalists' prototypes addressing financial accessibility across various sectors. Participants received mentorship and resources to innovate faster. Equifax emphasized its commitment to using data and technology to tackle pressing financial issues and improve service access for consumers and businesses alike.

Positive

• Launch of accelerated program for innovative financial solutions.
• Increased access to resources such as Equifax Cloud APIs for participants.
• Mentorship provided to participants potentially enhancing business solutions.
• Focus on addressing financial inclusion and accessibility challenges.

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• None.

Program Finalists Harness Equifax Cloud^™-Enabled APIs to Develop Transformative Solutions to Foster Financial Inclusion and Improve Access to Services 

ATLANTA, Dec. 15, 2022 /PRNewswire/ -- Today, Equifax^® (NYSE: EFX) announced the conclusion of its second annual developer challenge and accelerator program, hosted in partnership with 1871, which called upon U.S.-based software developers to create transformative solutions that support financial inclusion and improve access to services by leveraging Equifax Cloud enabled Application Programming Interfaces (APIs). Launched in July, the 2022 Equifax Accelerate program culminated in November with a Product Showcase at the company's headquarters in Atlanta. There, the 10 finalists shared their prototypes for helping improve the wide array of industries they serve, from fintech and digital insurance to financial planning and access to services for those in need. These finalists are:

• Mini City: Mini City seeks to eradicate homelessness by utilizing smart technology to connect vulnerable citizens to life critical services.
• Neofin: Neofin is a disruptive fintech software as a service (SaaS) that brings a seamless, e-commerce experience to the lending business.
• Billy: Billy is a digital insurance agency that makes it easier for construction businesses to manage and purchase insurance.
• VacayHQ: VacayHQ combines travel with personal finance, helping consumers build credit, qualify for the best travel credit cards and earn free travel.
• Denim: Denim is trusted by freight brokers of all sizes to simplify their financial operations and easily access working capital.
• Dytrix: Dytrix provides cybersecurity solutions and counterparty risk management for banks, credit unions, lenders, and other financial services businesses to mitigate cyber payment fraud.
• Clocr: Clocr aims to ease a family's burden at their greatest time of need by providing an easy-to-use estate planning platform for managing digital assets.
• EQL Finance: EQL Finance is a fintech platform that provides small dollar, interest-free lending to help American working families and individuals access and improve their credit.
• Bobsled: Bobsled provides a no-code data sharing experience connecting any cloud, platform, or region.
• Freede Solutions: Freede provides agencies with a self- service digital debt resolution platform powered by artificial intelligence.

"The high caliber of innovation seen at this year's Product Showcase underscores the power of the Equifax Cloud in helping spur solutions for many of the industry's biggest challenges today," said Bryson Koehler, Chief Product, Data & Analytics and Technology Officer at Equifax. "By harnessing our cloud-native technology, 2022 Equifax Accelerate program participants are finding new ways to expand access to credit, while helping provide greater access to the services businesses and consumers need to live their financial best."

The top 50 2022 Equifax Accelerate entries were accepted to participate in a Design Sprint Challenge in August, where they received mentorship from both Equifax and 1871, a Chicago-based business incubator that supports early-stage tech start-ups, growth stage tech leaders and corporate innovators, to assist in the creation of prototype solutions. From there, 10 finalists were accepted to the Product Studio phase before presenting at the Product Showcase, where they received unlimited access to all 1871 products and services, as well as Equifax Cloud-enabled APIs and expanded data assets, helping them innovate faster than ever before.

"From delivering solutions that help individuals build credit to providing financial planning for working-class families and access to services for the homeless – data, analytics and technology play a vital role in addressing some of the most pressing issues facing consumers and businesses today," said Joy Wilder Lybeer, Chief Revenue Officer and Senior Vice President of Global Partnerships at Equifax. "Following the success of last year's inaugural Equifax Accelerate program, this year's program brought even more technology – with expanded data sets for participants, including data-as-a-service, AWS Data Exchange and Snowflake Marketplace – together with later-stage startups to further the mission of fostering financial inclusion. Equifax is thrilled to work with our Accelerate finalists to drive value in the markets we collectively serve."

For more information about Equifax Accelerate, visit the link here.

ABOUT EQUIFAX

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 14,000 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

Rebecca Paul-Martin for Equifax
mediainquiries@equifax.com

 

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SOURCE Equifax Inc.

FAQ

What was the purpose of Equifax's developer challenge in 2022?

The challenge aimed to foster financial inclusion by encouraging software developers to create solutions using Equifax Cloud APIs.

When was the Equifax developer challenge program held?

The program culminated in November 2022, following its launch in July 2022.

What did the top finalists of the Equifax 2022 program focus on?

Finalists focused on enhancing access to financial services and addressing financial challenges across various industries.

How does Equifax support the participants in its developer challenge?

Equifax provides mentorship, resources, and access to its Cloud APIs to help participants innovate their solutions.

What key issues did Equifax highlight in the press release?

Equifax emphasized the importance of data and technology in improving financial access and services for consumers and businesses.