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Highlights
Administrative burdens and fraud are major issues for mortgage brokers, Technology adoption is surprisingly low, AI and Open Banking data are slowly gaining traction, Market adaptation is key. Read more
Equifax has announced the enablement of its partnering arrangement with enterprise HR software company Tambla.
To help retailers reduce online payments fraud while also meeting increasingly high customer expectations, Equifax has announced the launch of Kount in Australia.
Rising rates of construction industry insolvencies and cost of living pressures continue to place a heavy financial burden on sole traders and small business owners, who make up 97% of construction companies.
Not everyone shopping for a loan with a mortgage broker will meet lending criteria or be ready to buy, but discovering their creditworthiness can take a broker many hours of work.
Mortgage demand fell -4.6% in Q1 2022, marking the first decline in more than two years according to the latest Equifax Quarterly Consumer Credit Demand Index (Mar 2022).
Rising rates of insolvency in the construction industry are putting significant pressure on sole traders and small business owners in the sector, according to new data from Equifax, the global data, analytics and technology company.
Equifax has signed an agreement with the Australian Taxation Office (ATO) to receive commercial tax default data, with the intention of displaying this information in its commercial credit reports. The inclusion of commercial tax default data in Equifax reports will provide customers with actionable data during the credit application process that was previously not available, allowing them to evaluate risk more accurately.
Identity crime costs Australia an estimated $36 billion each year, with one in four Australians falling victim to identity or cybercrime in their lifetime according to the Australian Institute of Criminology (AIC). Equifax, the global data, analytics and technology company, today announced the launch of its Employee Protect product, designed to help Australian businesses keep their employees safe from identity theft and cybercrime.
Strong personal loan growth constrained by decreased demand for BNPL, credit cards and auto loans. Consumer credit demand eased in Q4 2021, as factors including supply chain issues and a resurgence in COVID cases impacted consumer spending behaviour.
