Equifax acquires Creditworks helping SMEs manage risk

SYDNEY – 1 March 2021 – Equifax, a global data, analytics and technology company and leading provider of credit information in Australia, has finalised the purchase of Creditworks to help trade credit and SME businesses manage commercial risk through end-to-end credit automation.

Equifax acquired a 51% stake in Creditworks in May 2018 and the purchase of the final share complements and enhances Equifax’s commercial credit decisioning portfolio. The acquisition addresses the needs of the trade credit and SME sector, as it enables better management of credit risk through an online credit application process, workflow and decisioning solution.

Moses Samaha, Executive General Manager Customer and Solutions at Equifax said, “In the current economic climate, managing commercial credit risk is crucial, from bringing new suppliers on board to ensuring security interests are registered. This can be challenging for SMEs and the combined Equifax and Creditworks solution makes this a streamlined and robust process for them.”

Trade credit and SME businesses benefit through technology to support improved efficiency and accuracy in credit application decisions and faster customer onboarding, as well as integration with CRM and ERP platforms and PPSR registrations. The combination of Creditworks and Equifax capabilities and data sources provides a unique and highly configurable trade credit application process to suit an organisation’s business needs and credit risk policy.

“Helping businesses manage their risk is where Equifax has both the data, insights and expertise. Extending our products and offerings to help businesses navigate risk is a top priority for us as we support businesses of all sizes through uncertain times,” said Samaha.