ATLANTA, April 24, 2018 /PRNewswire/ -- Equifax Inc.
(NYSE: EFX) today announced the launch of the blended version
of the Commercial Insight™ Delinquency Score, a high-performance
product that predicts the likelihood of a business incurring severe
delinquency (91 days or greater), charge-off or bankruptcy on
financial accounts within the next 12 months. The latest
addition of this product suite is the first solution to combine
consumer credit information with the trended business credit data
in the Equifax Commercial Financial Network (CFN).
"Providing our customers with the option of combining consumer
data and small business data with the innovative, machine-learning
based technology present in the Commercial Insight™ Delinquency
Score will redefine the US Commercial Risk Management market,"
explains Scott Spencer, Senior Vice
President and General Manager for U.S. Commercial Services at
Equifax. "Results from our analyses have demonstrated up to a 19
percent lift in predictability of risk versus other blended scores,
and up to a 33 percent increase in scoreable businesses over
non-blended scores. These incredible results will help our
customers make more informed decisions and drive the next wave of
growth within their businesses."
The Commercial Insight™ Delinquency Score output is based
upon:
- Equifax CFN database, which not only includes
traditional payment performance data, but also adds other important
data to the mix, such as business owner and identity. It
includes:
-
- approximately $300 billion in
outstanding balances
- over 1,400 commercial payment data portfolios
- up to 5 major data categories beyond the traditional credit
bureau
- Trended data, which provides predictive insights
into the future financial path of a business, as well as past
financial behaviors, giving lenders valuable insight into spending
patterns. These patterns significantly increase predictiveness that
helps lenders mitigate risk more effectively.
- NDT (NeuroDecision™ Technology), an Equifax-exclusive,
risk modeling solution that blends the advanced machine-learning
technology of neural networks allows a lender's credit scoring
system to generate adverse-action reason codes with understandable
explanations of resulting scores.
Powered by the CFN and leveraging NDT and trended data, the new
risk score helps customers achieve profitable growth by increasing
access to capital and services for American small businesses.
Simply put, it will allow customers to lend more intelligently to a
greater number of qualified borrowers.
For more information about this product, please visit
Equifax.com/cisuite.
About Equifax
Equifax is a global information solutions company that uses
trusted unique data, innovative analytics, technology and industry
expertise to power organizations and individuals around the world
by transforming knowledge into insights that help make more
informed business and personal decisions.
Headquartered in Atlanta, Ga.,
Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia
Pacific region. It is a member of Standard & Poor's
(S&P) 500® Index, and its common stock is traded on the New
York Stock Exchange (NYSE) under the symbol EFX. Equifax employs
approximately 10,300 employees worldwide
FOR MORE INFORMATION
1550 Peachtree Street, NE
Atlanta, Georgia 30309
Marisa Salcines
Media Relations
770-752-2574
marisa.salcines@equifax.com
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SOURCE Equifax Inc.