ATLANTA, Jan. 17, 2020 /PRNewswire/ -- Equifax®
(NYSE: EFX), a global data, analytics and technology company, today
announced that it has signed a definitive agreement to increase its
ownership of Equifax Credit Information Services Private Ltd.
(ECIS) to 100%. ECIS is a leading Indian credit information
company. The transaction emphasizes Equifax's proactive investment
in the Indian lending industry.
Since 2010, ECIS has operated as a joint venture between Equifax
and leading Indian financial institutions, including State
Bank of India, Bank of Baroda,
Bank of India, Kotak Mahindra
Prime Limited, Sundaram Finance Limited and Union Bank of
India. Following this transaction,
ECIS will be 100% owned by Equifax.
"This investment represents the strong confidence that Equifax
has in India's economy and ECIS's
growth potential," said Mark W.
Begor, Equifax CEO. "We appreciate the support of our joint
venture partners, customers and employees over the last decade in
India. This transaction emphasizes
Equifax's focus on expanding our footprint globally as a leader in
differentiated data, advanced analytics, and technology that create
innovative solutions and insights for our customers."
Over a decade of presence in India, ECIS has brought many innovations in
data and analytics to the Indian lending space. It is now a full
service credit bureau offering its services to all segments of the
lending industry – Retail Banking, Microfinance Institutions (MFI)
and Commercial.
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.
For more information:
Mediainquiries@equifax.com
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SOURCE Equifax Inc.