Approving a credit application without checking a customer’s credit report and credit score is like building a puzzle with missing pieces. You may have some parts of the financial picture, but the overall view will be incomplete and maybe inaccurate. Credit reports and scores help credit providers make informed decisions that benefit the entire lending ecosystem. Here’s how...
Tougher economic climate also impacting business growth
Auto financiers face a growing challenge that has been flying under the radar – shadow hardship. Equifax Senior Solutions Consultant Ashley Schumacher recently highlighted this issue at the 2023 Automotive Finance Forum. In this post, we’ll delve into what shadow hardship means, its implications for auto financiers and solutions to protect your business from this hidden pocket of risk.
Data breaches increase the risk of identity fraud and money laundering in financial institutions. For financial institutions looking to protect against identity crime and money laundering, consider these four components when selecting an early fraud detection solution.
As emerging technologies and alternative data sources open up a world of possibilities, savvy lenders are increasingly leveraging data analytics to make better decisions, protect against fraud and tailor their interactions to better serve customer needs.
More than 3 in 5 merchants agree that reform of the Buy Now Pay Later (BNPL) sector will encourage more businesses to adopt this payment option, according to an Equifax survey.
Equifax spoke with Dany Khoury, the Director of Design Management of the architectural and interior design studio BDAI about their experiences as the first adopter of iCIRT-ratings in their sector.
Nearly 2 in 5 home loan applicants expect more support and better service from their mortgage broker during the early stages of onboarding, according to the Equifax Mortgage Broker Pulse Survey 2023.
Insolvencies and late payments climb, while more SMBs and Sole Traders experience mortgage stress
Mortgage arrears accelerate as the impact of interest rate rises becomes more pronounced
Nearly a quarter of mortgage surveyed brokers expect to take on more refinancing loans this year
