Risk Solutions

With an evolving risk landscape and growth in technological innovation, it’s vital to stay informed. 

Equifax Risk Solutions provides the insights businesses need to make highly informed decisions helping to identify, measure and mitigate risk.

Access our articles and free resources for insights into the power of data and analytics in helping you make better risk decisions.  Shift your perspective.

Case Study: A New Industry Rating Tool can highlight the early warning signs of Probuild and others years before collapse
4th May 2022

With the right data, it's possible to see the early warning signs when a building firm like Probuild starts to struggle. A data-driven assessment conducted after Probuild's demise shows there were plenty of danger signals in the years leading up to its unfortunate demise.

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Combating cybercrime may now be the single most crucial risk-management activity for every Australian company. 

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Wherever there is data, there are answers. But there are right answers, and there are wrong answers.

Good-quality data can be relied upon to give valuable insights for better decision making, but the same can't be said of low-quality data. Data that is incomplete, dated or not fit for purpose can result in inaccurate or misleading outcomes.

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Australian-based global software company, Inspect Real Estate (IRE), could see a need to make the tenant application and screening process faster and easier for property professionals and property seekers. 

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Every year from 2011 to 2021, Equifax has solicited the views of credit managers around Australia to gain insight into credit risk management practices, sentiments and trends. A decade of data provides a unique perspective of the past, the present, and the future of credit management in Australia. Here, we look at where the industry is heading and how it has transformed, including the impact of COVID-19.

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Digitalisation is driving innovation in many areas of credit evaluation, and credit scoring is no exception. 

Data availability is exploding, consumer expectations are rising, and analytic capabilities are rapidly advancing. It's a heady mix that is bringing about transformational improvement to the accuracy of credit scores.

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Many a credit officer wishes they could stop SME customer drop-offs during the loan acquisition process. Many a bank customer service rep craves to avoid badgering their customers for financial paperwork that they have neither the time nor inclination to gather. 

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Asking suppliers to answer questions about their efforts to prevent modern slavery is a good starting point for companies serious about building ethical supply chains. But without evidence to validate their responses, are questionnaires to suppliers any more than a tick-the-box compliance exercise?

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There are some updates coming to the Document Verification Service (DVS) and the Commonwealth electoral roll that may impact how you use IDMatrix.

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Cybersecurity readiness doesn't come easily. Reacting to a security breach is vastly different from being ready to act should a breach occur. Many organisations haven't previously focused on proactively protecting their critical information assets, but change is coming. The increased sophistication of today's threat actors heightens the chances that more organisations will find themselves the unlucky targets of cybercrime.

 

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A potential borrower with no defaults but a poor repayment history applies for a loan with a lender who uses only negative bureau data in their credit decisioning. Other things being equal, their application is likely to be approved. The same borrower applies to a lender with access to Comprehensive Credit Reporting (CCR) data, only to have their application rejected. 

The difference? One lender made their decision based solely on negative-only credit information like defaults, bankruptcies and the number of credit enquiries. The other lender made their decision based on both negative and positive CCR data. This lender could see that the applicant had a history of paying late and had many loans with multiple lenders.

 

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