Account Opening

002 Increased consumer debt and stricter lending requirements heighten your need for detailed, precise consumer information and consistent practices at account opening. Can you be sure applicants are who they say they are? Are you making fair and balanced lending decisions?

Verification of stated income is just one example of the comprehensive data available with Equifax Decision 360. Decision 360° delivers unique employment, income, asset/property and macroeconomic data, as well as traditional credit reporting and risk scoring, to meet your specific information needs. This more inclusive approach to risk management combines unique consumer data and analytics, with automated risk decisioning for more confident credit decisions that reduce fraud, increase customer satisfaction and enhance your bottom line.

How can I verify employment and income at account opening?

  • Reduce the time and expense of manual verification with instant, automated delivery of employment data, featuring direct reporting from 2,000+ employers.

How can I identify additional opportunities for growth at the point-of-sale?

  • Evaluate against risk profiles of your best customers, and align additional offers with income and capacity/propensity to pay.

How can I ensure that my account opening and lending decisions align with my risk strategies and industry requirements?

  • Automate lending and account opening strategies for alignment with business rules, policies and processes, industry best practices and regulations.

 

Identity Suite

Fraud issues vary by industry and Equifax's fraud solutions have been effectively applied in combating fraudulent activity at thousands of companies. Products within Equifax's Identity Suite are specifically designed to automate the business processes that many companies are handling manually.


InterConnect

InterConnect is our industry leading solution for automating account opening, credit-risk decisioning, cross-selling and fraud mitigation during the account acquisition process. InterConnect centralizes your business processes, which means fast and consistent business decisions across all your sales channels. InterConnect includes a comprehensive suite of products to facilitate rapid change control and effective strategy management.


eID

Equifax offers identity verification and authentication solutions that provide a user-friendly experience during online account opening, while reducing fraud.




 

Products and Services
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Confidence Score for Credit Unions leverages TeleCheck’s database to create a multi-dimensional view of new share draft account applicants.
Decision Power Insight combines the power of decisioning technology and credit information from Equifax with closed-for-cause and negative deposit account information from TeleCheck.
InterConnect Direct allows you to quickly open new accounts across all sales channels, with centralized processing and decisioning that access all the right data sources.
InterConnect for Account Acquisition includes a comprehensive set of products to streamline the application and risk decisioning process, as well as support ongoing change control and strategy development.
   
Technology Services Cross-Sell: Financial institutions are under pressure to sell more business to existing customers.
Undisclosed Debt Monitoring is a proprietary platform that monitors the “quiet period” between the time of original credit file pull and the closing of the loan.
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