News and Media

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.

Business credit demand bounced back from Delta lockdowns in Q4 2021, with business loan applications driving a third straight quarter of growth. Despite the overall upward trend, however, the pace of growth has eased in recent months, and the spike in Omicron cases has cast a shadow on the prospect of continued commercial credit growth into Q1 2022. 

Increasingly sophisticated cybercrime threats in Australia are encouraging organisations to evolve their security culture, reporting structures and level of preparedness, according to a new Red Paper released today by global data, analytics and technology company Equifax.

Consumer credit demand continues its upward trajectory in Q3 2021, with early indications of further recovery in the coming months. Data from the first week of NSW reopening after 15-weeks in lockdown shows a jump in demand for auto loans (+33.0%), mortgages (+15.0%) and personal loans (+10.0%) compared to the previous week in lockdown.

The recovery in business credit demand eased in Q3 2021, but recovery may be imminent as states make their way out of lockdown. Data from the first four days of NSW reopening after 15-weeks in lockdown shows a jump in demand across all categories of credit. Asset finance enquiries rose by +25.1%, trade credit by +15.5% and business loans by +2.5% in the week of 11-14 October compared to the previous week in lockdown.

Equifax celebrates ten years with the release of the National Credit Managers Survey 2021 results

Equifax has been recognised as an ABA100 Winner in The Australian Business Awards 2021 for Product Innovation and New Product Innovation for Equifax One Score.

Equifax, the global data, analytics and technology company, has announced a partnership with leading HR and Payroll software provider Frontier Software. A first in the Australian market, the partnership will enable Frontier Software and its customers to streamline the employment income verification process and mitigate data handling risks in loan applications with automated employment income verification.

Rebound now hit by Pandemic Second-Wave

For the first time in three years, consumer credit demand has moved out of negative territory. According to the latest Quarterly Consumer Credit Demand Index (June 2021), demand recovered sharply in the June quarter (+29.1%), with applications for credit cards, Buy Now Pay Later (BNPL), personal loans, auto loans and mortgages all experiencing double-digit growth. A drop in the momentum of recovery is expected in the third quarter, with stay-at-home pandemic orders impacting around 10 million Australians