ATLANTA and STERLING, Va., Nov. 20, 2019 /PRNewswire/
-- Equifax Inc. (NYSE: EFX) and Neustar®, Inc., today
announced a strategic agreement designed to deliver superior
segmentation solutions to the financial services industry. This new
relationship will bring together the unique data assets of both
companies for offerings designed to meet the needs of financial
services institutions.
The Fair Credit Reporting Act (FCRA) and Fair Housing Act (FHA)
have caused many financial services companies to eliminate
protected class variables from all targeted marketing activities.
Unfortunately, most available segmentation models were built with
protected class variables including age, income, marital status,
and others; making them unusable. Together, Equifax and
Neustar are bringing to market a first-of-its-kind segmentation
solution that does not use protected class information such as age
or gender. Designed specifically for financial services companies,
the solution includes the Equifax financial insights including
average assets and liabilities, asset composition, propensity to
buy certain financial products and services, and other variables
that provide unique insights into consumer financial behavior.
These Equifax data assets are then linked to Neustar's
industry-leading identity graph to describe the financial profile
for households in the U.S.
"Companies of any industry need reliable market and
consumer intelligence to identify their most valuable customers and
lines of business. This helps them to optimize their marketing to
retain customers, and then build custom segmentation to identify
their most valuable prospects," said Neustar Senior Vice President
& General Manager of Marketing Solutions Michael Schoen.
"Partnering with a leader like Equifax to develop a segmentation
schema for the financial services industry, that's absent of any
protected class variables, will give Neustar's financial services
customers the ability to unlock a number of new potential use
cases, that have been previously unavailable due to compliance
concerns. These include custom audience targeting,
activation, site planning, market sizing, offer optimization as
well as measurement and attribution by customer segment."
"Financial institutions rely on Equifax to provide them with the
most complete picture available of consumer financial behavior,"
said Ian Wright, Chief Data Officer,
Data-driven Marketing from Equifax. "The combination of our unique
data insights and Neustar's respected expertise in the creation of
segmentation solutions is a powerful one. Together, we are giving
bank marketers the opportunity to leverage segmentation solutions
without using protected class demographics."
Neustar's ElementOne audience intelligence solution has been
providing industry-leading segmentation capabilities for over a
decade, and is now used by hundreds of customers for insights,
planning, activation and measurement purposes. The new
financial segmentation schema will leverage the same proprietary
modelling capability, and the resulting dataset will be rolling out
across Neustar's marketing solutions product-set in a phased way,
starting in Q1 2020.
ABOUT EQUIFAX INC.
Equifax is a global data,
analytics, and technology company and believes knowledge drives
progress. The Company blends unique data, analytics, and technology
with a passion for serving customers globally, to create insights
that power decisions to move people forward. Headquartered
in Atlanta, 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 11,000 employees
worldwide. For more information, visit Equifax.com and follow
the company's news on Twitter and LinkedIn.
About Neustar
Neustar is an information services and
technology company and a leader in identity resolution providing
the data and technology that enables trusted connections between
companies and people at the moments that matter most. Neustar
offers industry-leading solutions in Marketing, Risk,
Communications, Security and Registry that responsibly connect data
on people, devices and locations, continuously corroborated through
billions of transactions. Neustar serves more than 8,000 clients
worldwide, including 60 of the Fortune 100. Learn how your company
can benefit from the power of trusted connections here:
https://www.home.neustar.
Media Contacts
Kate
Walker for Equifax
MediaInquiries@equifax.com
404.885.8058
Sheila S. Blackwell for
Neustar
Sheila.blackwell@team.neustar
301.717.7345
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SOURCE Equifax Inc.