Welcome to our dedicated page for Equifax, Incorporated news (Ticker: EFX), a resource for investors and traders seeking the latest updates and insights on Equifax, Incorporated stock.
Equifax, Incorporated (NYSE: EFX) is a global leader in consumer, commercial, and workforce information solutions. The company provides critical insights and information to businesses of all sizes and consumers, helping them make informed decisions with confidence. Headquartered in Atlanta, Equifax manages data on over 600 million consumers and 81 million businesses worldwide, operating in 24 countries across North America, Central and South America, Europe, and the Asia Pacific region.
Equifax's core business revolves around its extensive database and advanced analytics. The company generates significant revenue from its credit reporting services, which are fundamental in the credit decision-making process of lenders. Alongside Experian and TransUnion, Equifax is one of the major credit bureaus in the United States, offering detailed credit histories on millions of consumers.
The firm's Workforce Solutions division contributes over 40% of its revenue, providing services such as income verification and employer human resources services. In recent years, Equifax has expanded its product offerings, notably with the launch of Smart Screen™, a portfolio of consumer reports designed to streamline criminal background checks. This product leverages the Equifax Cloud™ and TotalVerify™ data hub, accelerating the background check process for employers and government agencies.
Financially, Equifax has performed robustly, despite challenges such as the fluctuating mortgage market and foreign exchange impacts. The company reported a revenue increase of 6% year-over-year in Q3 2023, driven by strong performances in non-mortgage sectors and international markets. Equifax continues to innovate, recently acquiring Boa Vista Serviços, the second largest credit bureau in Brazil, to bolster its presence in the South American market.
Equifax places a strong emphasis on data security and compliance, particularly following the 2017 cybersecurity incident. The company has since made significant investments in improving its technology infrastructure and data security measures. Equifax is committed to ethical data usage, supporting initiatives like fair chance hiring through data-driven decisions that expand employment opportunities for individuals with criminal histories.
For more information about Equifax's products, services, and latest news, please visit Equifax.com.
Equifax (NYSE: EFX) will release its financial results for the second quarter of 2021 on July 21, after market close. A conference call will be held on July 22 at 8:30 am ET, where management will discuss the results. Investors can access presentation materials on investor.equifax.com. An audio replay will be available from July 23. Equifax, based in Atlanta, supports decision-making through its data analytics and technology services across 24 countries.
Equifax (NYSE: EFX) has launched the Insight Score for Credit Cards, enabling credit card issuers to expand access to credit by incorporating alternative data from over 430 million utility and telecom accounts. This new scoring method can potentially elevate 5.5 million U.S. consumers from unscorable to prime credit offers, enhancing financial inclusion. Additionally, it allows lenders to approve 5% to 7% more applicants, mitigating risk with Equifax's NeuroDecision Technology. This initiative comes at a critical time when many Americans are seeking credit.
Equifax (NYSE: EFX) is launching the Equifax Accelerate, a developer challenge and accelerator program, to enhance credit access using cloud technology. This initiative, part of a $1.5 billion cloud transformation, invites early-stage developers to create innovative solutions with Equifax APIs. Applications are open until July 29, 2021. The top 50 entries will participate in an August 2021 Design Sprint Challenge, with opportunities for mentorship and access to a custom Product Studio program. This program aims to drive financial inclusion through tech-driven solutions.
Equifax (NYSE: EFX) is set to host a special edition of its Market Pulse webinar titled "Accelerating Access to Credit" on June 24, 2021. The discussion, moderated by Sid Singh, President of USIS, will feature insights from Christopher Wheat of JPMorgan Chase Institute and Kahlil Byrd of Invest America. The webinar will address the challenges faced by 26 million "credit invisible" Americans and explore the role of alternative data in financial inclusion. This initiative aims to foster a more inclusive financial system and support underserved communities.
Equifax (NYSE: EFX) has launched OneView™, a cloud-based report that integrates real-time income and employment data from The Work Number® database, enhancing decision intelligence for lenders. This tool aims to assist up to 7 million consumers with thin or no credit files in gaining better access to credit. The OneView report offers a consolidated view of credit insights and can increase approval rates by over 5% for certain credit portfolios. It allows businesses to customize reports for improved decision-making efficiency.
Equifax (NYSE: EFX) has promoted Lisa M. Nelson to President of Equifax International, effective immediately. Nelson, who has been with the company since 2011, previously served as Group Managing Director for Equifax Australia/New Zealand and has a record of driving growth and innovation. Under her leadership, she will oversee operations in 23 countries, focusing on leveraging cloud technology for growth and innovation. Melanie Cochrane will succeed her in Australia/New Zealand, bringing extensive experience from American Express.
Equifax (NYSE: EFX) announces its free virtual conference, Ignite LIVE 2021, scheduled for May 25, 2021, from 10am-2pm ET. The event will address digital convergence in the financial services sector, highlighting the need for businesses to adapt to evolving customer demands. Key topics include strategies for combating digital identity fraud, leveraging Explainable AI in credit expansion, and innovations through the InnovationX platform. Equifax aims to facilitate discussions on market challenges and foster financial inclusion through this conference.
Equifax Workforce Solutions is enhancing its manual verification services to improve turnaround times for income and employment verifications. New express options will complement existing services and leverage their cloud-native infrastructure. With over 25 years of experience, Equifax handles nearly 6,000 manual verification requests daily, aiming to provide comprehensive verification solutions. The Work Number database supports almost two-thirds of the U.S. non-farm payroll and collaborates with over one million employers, enhancing its verification capabilities.
FAQ
What is the current stock price of Equifax, Incorporated (EFX)?
What is the market cap of Equifax, Incorporated (EFX)?
What does Equifax do?
Where is Equifax headquartered?
What services does Equifax offer?
How does Equifax generate revenue?
What is Smart Screen™?
How does Equifax ensure data security?
What recent acquisitions has Equifax made?
What is Equifax's role in the credit decision-making process?
How can I learn more about Equifax's products and services?
What is Equifax's strategy for future growth?
