ATLANTA, Nov. 19, 2019 /PRNewswire/
-- Equifax Inc. (NYSE: EFX) has extended its
long-standing relationship with the National Consumer Telecom and
Utilities Exchange, Inc.® (NCTUE®). NCTUE is an independent, Fair
Credit Reporting Act-compliant consumer reporting agency that
maintains an industry-specific database of payment information for
telecommunications, wireless, cable, pay TV, home security and
utility companies.
Under the terms of the current agreement, Equifax will continue
its operation and management of the NCTUE database. Equifax will
also maintain the exclusive right to deliver NCTUE products and
services, including: Equifax Insight Scores for Credit, Rental
Scores, Advanced Communications Plus, Advanced Energy Plus and many
others through 2024. This extended service agreement continues
Equifax operation and management of the NCTUE database, subject to
the oversight of the NCTUE board of trustees.
"This extended service agreement enables service providers to
better identify and manage financial risks and more effectively
monitor customer relationships," said Brian
Newcomb, AT&T Director of Credit Policy and Strategy and
President of the NCTUE Board of Trustees. "Equifax has maintained a
relationship with NCTUE for 23 years, working with the exchange to
launch the NCTUE database in 1996. We are pleased to continue our
work to support our 120 company members and their customers'
needs."
The database empowers NCTUE members to safely and
responsibly provide mainstream credit for millions of consumers.
Through the exchange, members leverage alternative data
assets through Equifax products and innovative services that help
member companies and lenders expand credit access when traditional
credit data is limited or unavailable to assess risk.
"Working on behalf of NCTUE for more than two decades has
given Equifax an unmatched understanding of the telecom and
utilities industry," said Sid Singh,
president of Equifax United States Information Solutions (USIS).
"Alternative data sources like utility payment history present a
tremendous opportunity for the underbanked or credit invisible.
Telecom and utility payment history is not currently considered in
traditional credit reports, but alternative data can help consumers
improve creditworthiness in the eyes of service providers as
individuals seek new products, credit and services."
In addition to its management of the NCTUE database, Equifax
maintains a powerful suite of data insights. This includes The Work
Number® database, the industry-leading, centralized repository of
income and employment information in the U.S.; and the Equifax
Commercial Financial Network (CFN), which provides organizations
with a 360-degree view of risk, through traditional and
non-traditional types of data, to help organizations improve
decision making and generate revenue. These differentiated data
assets are augmented by the acquisitions of DataX and PayNet as
well as the recently announced partnerships with Urjanet and
Envestnet⼁Yodlee.
For more information on Equifax NCTUE products and services,
please visit: https://www.equifax.com/business/nctue-plus/.
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
Kate
Walker for Equifax USIS
404-885-8058
MediaInquiries@equifax.com
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SOURCE Equifax Inc.