Veda and RP Data announce strategic alliance: Big data to benefit Australia’s property market

Sydney, Australia, 22 April 2013: Veda, Asia-Pacific's leading provider of consumer and commercial data intelligence and insights, today announced a strategic alliance with RP Data, Australia's leading provider of property data and risk analytics.
The alliance gives lenders, and other commercial entities that extend credit, the option to incorporate RP Data's real-time property valuation model with Equifax's own credit bureau data.
"This strategic alliance will really help to sharpen the picture for property lenders and other verticals," said Equifax's CEO Nerida Caesar.
"Unprecedented data is now at our customer's fingertips, in real-time, ready to be layered with Equifax's commercial and consumer data, via our online portal VedaCheck.
"This presents a major step forward for our clients, who can now access integrated insights across multiple data platforms."
RP Data's CEO Graham Mirabito said that the alliance with Veda is timely, as it reflects a wider shift towards a growing consumer appreciation for big data, where RP Data is leading the way by integrating its data, analytics and insights into new industries and large organisations across Australia; as well as through joint-venture projects with US parent company, CoreLogic.
"We continue to be Australia's number one source of market-leading property insights - and this alliance reflects our commitment to be responsive to the needs of specific customer segments," said Mr Mirabito.
"Where it gets interesting for both Veda and ourselves is that our customers understand, more than ever, the power of big data both as a concept in itself and as a means to add value to their own goals.
"These are exciting times for leading data providers and their customers. We're proud to be aligning ourselves in this way, to ultimately deliver even better insights for our customers - in real-time," continued Mr Mirabito.
John Wilson, Equifax's Executive General Manager, Product and Market Development said the partnership helps to support responsible lending decisions at a pragmatic level.
"We have integrated RP Data's analytic tools that quickly drill into this cross-platform information, to really harness the power of this data. By packaging these insights into an online, user-friendly format, lenders have instant access to a greater depth of information. This information can help to minimise their risk exposure - and streamline their application or due diligence processes.
"This way, responsible-lending obligations really come into their own here. We are proud to support this process," Mr Wilson said.