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.
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.
Related Posts
The recent Equifax Frontiers: Championing Digital Trust event convened industry leaders to explore the evolving identity and fraud landscape. Discussions provided valuable insights into strengthening defenses against fraud, scams, and data breaches, ensuring regulatory compliance, and future-proofing operations. The central theme emphasised that ‘digital trust’ - meaning customer confidence and security in online business interactions - is no longer a peripheral concern. Instead, it’s a foundational element for business resilience and growth. Consumers expect businesses to protect their personal data while offering transparent, reliable, privacy-respecting and frictionless digital interactions.
Here's a summary of the key insights and talking points from four of the top sessions.
New market leading CDR transaction-based risk score from Equifax harnesses the power of the Mastercard Open Banking platform to help consumers better understand their credit health and open new financial opportunities