Equifax and Qlarifi Partner to Study Impact of Buy Now, Pay Later on Credit Risk and Fraud
Equifax (NYSE: EFX) and Qlarifi have announced a partnership to conduct the industry's first comprehensive study on Buy Now, Pay Later (BNPL) data's impact on credit risk and fraud prevention. The study comes as over 50% of U.S. consumers currently use BNPL services, with 35% planning to increase usage in 2025.
The collaboration will leverage Qlarifi's real-time BNPL consumer credit database to analyze data from multiple providers, focusing on loan stacking risks, predictive power of BNPL data, and consumer protection. The partnership aims to enhance credit decisioning processes and provide greater visibility into consumer financial behavior across BNPL platforms.
Equifax (NYSE: EFX) e Qlarifi hanno annunciato una collaborazione per realizzare il primo studio completo del settore sull'impatto dei dati Buy Now, Pay Later (BNPL) sul rischio di credito e la prevenzione delle frodi. Lo studio arriva in un momento in cui oltre il 50% dei consumatori statunitensi utilizza attualmente i servizi BNPL, con un 35% che prevede di aumentare l'uso nel 2025.
La collaborazione sfrutterà il database in tempo reale di Qlarifi sui crediti dei consumatori BNPL per analizzare dati provenienti da diversi fornitori, concentrandosi sui rischi di sovrapposizione dei prestiti, sul potere predittivo dei dati BNPL e sulla protezione dei consumatori. L'obiettivo della partnership è migliorare i processi decisionali del credito e offrire una maggiore visibilità sul comportamento finanziario dei consumatori attraverso le piattaforme BNPL.
Equifax (NYSE: EFX) y Qlarifi han anunciado una asociación para llevar a cabo el primer estudio integral de la industria sobre el impacto de los datos de Buy Now, Pay Later (BNPL) en el riesgo crediticio y la prevención del fraude. El estudio llega en un momento en que más del 50% de los consumidores en EE. UU. utilizan actualmente servicios BNPL, con un 35% que planea aumentar su uso en 2025.
La colaboración aprovechará la base de datos de crédito al consumidor BNPL en tiempo real de Qlarifi para analizar datos de múltiples proveedores, enfocándose en los riesgos de acumulación de préstamos, el poder predictivo de los datos BNPL y la protección del consumidor. La asociación busca mejorar los procesos de toma de decisiones crediticias y ofrecer una mayor visibilidad del comportamiento financiero de los consumidores en las plataformas BNPL.
Equifax (NYSE: EFX)와 Qlarifi가 BNPL(지금 구매, 나중에 결제) 데이터가 신용 위험 및 사기 방지에 미치는 영향을 업계 최초로 종합적으로 연구하기 위해 파트너십을 발표했습니다. 현재 미국 소비자의 50% 이상이 BNPL 서비스를 이용하고 있으며, 35%는 2025년에 사용을 늘릴 계획입니다.
이번 협력은 Qlarifi의 실시간 BNPL 소비자 신용 데이터베이스를 활용해 여러 제공업체의 데이터를 분석하며, 대출 중복 위험, BNPL 데이터의 예측력, 소비자 보호에 중점을 둡니다. 이 파트너십은 신용 의사결정 과정을 개선하고 BNPL 플랫폼 전반에 걸친 소비자의 금융 행동에 대한 가시성을 높이는 것을 목표로 합니다.
Equifax (NYSE : EFX) et Qlarifi ont annoncé un partenariat pour mener la première étude complète du secteur sur l'impact des données Buy Now, Pay Later (BNPL) sur le risque de crédit et la prévention de la fraude. Cette étude intervient alors que plus de 50 % des consommateurs américains utilisent actuellement les services BNPL, avec 35 % prévoyant d'augmenter leur utilisation en 2025.
La collaboration exploitera la base de données de crédit à la consommation BNPL en temps réel de Qlarifi pour analyser les données de plusieurs fournisseurs, en se concentrant sur les risques d'empilement de prêts, la puissance prédictive des données BNPL et la protection des consommateurs. Le partenariat vise à améliorer les processus de décision de crédit et à offrir une meilleure visibilité sur le comportement financier des consommateurs sur les plateformes BNPL.
Equifax (NYSE: EFX) und Qlarifi haben eine Partnerschaft angekündigt, um die erste umfassende Studie der Branche über die Auswirkungen von Buy Now, Pay Later (BNPL)-Daten auf Kreditrisiken und Betrugsprävention durchzuführen. Die Studie erfolgt, während über 50 % der US-Verbraucher derzeit BNPL-Dienste nutzen und 35 % planen, die Nutzung im Jahr 2025 zu erhöhen.
Die Zusammenarbeit wird Qlarifis Echtzeit-Datenbank für BNPL-Verbraucherkredite nutzen, um Daten von mehreren Anbietern zu analysieren, mit Fokus auf Risiken durch Kreditstapelung, die Vorhersagekraft von BNPL-Daten und Verbraucherschutz. Ziel der Partnerschaft ist es, Kreditentscheidungsprozesse zu verbessern und eine bessere Transparenz des finanziellen Verbraucherverhaltens auf BNPL-Plattformen zu schaffen.
- Partnership addresses growing BNPL market with over 50% consumer adoption rate
- First industry study using real-time multi-provider BNPL data
- Potential to improve credit access for consumers with limited credit history
- Enhanced ability to identify loan stacking risks in real-time
- Current lack of comprehensive BNPL data integration in credit assessments
- Increasing risk of consumer overextension in BNPL market
According to a recent survey, more than
Qlarifi provides a platform designed specifically for short-term credit. The platform gives lenders a secure and simple path to furnishing data for to-the-second tracking of BNPL usage by consumers across providers. This real-time infrastructure provides secure, dynamic insights into consumer borrowing across BNPL providers allowing for the identification of loan stacking in real-time and surfacing insights specific to the BNPL industry.
"Conducting a group study with an innovative partner like Qlarifi and multiple BNPL providers will ultimately allow the industry to identify the potential to minimize loan stacking risks and trends, quantify the predictive power of BNPL data, and maximize the benefits to consumers," said Jake Osborne, Senior Vice President and General Manager of Fintech and Payments at Equifax.
As more consumers adopt BNPL, understanding the predictive impact of this data has become increasingly important to lenders and service providers. While traditional credit reports remain a strong indicator of credit history and past financial reliability, lenders are seeking the most comprehensive consumer view possible to optimize offers and inform their decisioning. This study will also explore how BNPL data can strengthen consumer protection by providing early visibility into financial stress, identifying loan stacking in real-time, and helping prevent overextension. At the same time, responsible BNPL usage can help create greater access to credit for consumers with limited credit history.
"BNPL providers and traditional lenders have been flying blind for too long," said Alex Naughton, CEO of Qlarifi. "This joint study, providing real-time data across multiple providers, will be a crucial first step in understanding how organizations can better serve the evolving needs of both the lending community and consumers by offering a more complete and transparent view of how BNPL behavior can inform credit decisioning."
For more information about how Equifax helps FinTech companies innovate and support positive outcomes, click here. For more information about how Qlarifi enhances risk and fraud lending decisions with accurate, detailed and real-time data, click here.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in
About Qlarifi
Qlarifi is the first real-time BNPL consumer credit database. It provides insightful underwriting data for BNPL lenders via consumers' transaction history. With richer data, lenders can make more informed underwriting decisions - helping both BNPL providers and consumers. For more information, visit www.qlarifi.com.
FOR MORE INFORMATION:
Tiffany Smith for Equifax
mediainquiries@equifax.com
Emma Dunn for Qlarifi
emma@fridayinitiatives.com
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SOURCE Equifax Inc.
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