Equifax Inc Stock Price, News & Analysis

Equifax (NYSE: EFX) has launched a new Global Business Services Center in San Jose, Costa Rica, enhancing its credit data and analytics capabilities in the region. This expansion is part of Equifax's strategy to leverage its $1.5 billion cloud investments, aiming for innovation and growth. The new facility will serve as a critical hub for technological advancements, including cybersecurity. With existing operations certified carbon neutral, the new site is pursuing LEED gold certification. Equifax anticipates a workforce exceeding 2,000 employees in Costa Rica by 2023.

Equifax (NYSE: EFX) announced on September 27, 2022, the appointment of Jamil Farshchi, Chief Information Security Officer, as a Strategic Engagement Advisor to the FBI. This role will enhance collaboration with the private sector to address cyber threats. Farshchi emphasized the importance of public-private partnerships in improving cybersecurity. With a history of leadership in security roles at major corporations, he aims to expand efforts in information sharing and corporate resilience. Equifax is committed to strengthening national security through improved communication and transparency.

The three major U.S. credit reporting agencies—Equifax (NYSE:EFX), Experian (LON:EXPN), and TransUnion (NYSE:TRU)—have announced the extension of free weekly credit reports for consumers through the end of 2023. This initiative aims to assist Americans in managing their financial health amid rising inflation and economic uncertainty following the COVID-19 pandemic. The CEOs of the companies emphasized the importance of credit reports in enhancing financial stability and education during this critical period.

The three major credit reporting agencies, Equifax (NYSE:EFX), Experian (LON:EXPN), and TransUnion (NYSE:TRU), have announced an extension of free weekly credit reports for U.S. consumers until the end of 2023. This initiative aims to assist individuals in managing their financial health amid rising inflation and economic uncertainty following the COVID-19 pandemic. The CEOs of the companies highlighted the importance of credit reports in achieving financial stability and education for consumers.

Equifax (NYSE: EFX) announced the launch of its I-9 Management App for small- and medium-sized businesses (SMBs) within the Clover App Market. This solution aims to simplify the completion and retention of Form I-9 requirements, offering SMBs a mobile-friendly method for employee verification and remote onboarding. By integrating with Clover, which processes over $234 billion annually, Equifax enhances onboarding efficiency while providing access to I-9 Management and E-Verify services. This initiative builds on Equifax's strategic partnership with Fiserv (Nasdaq: FISV).

Equifax (NYSE: EFX) has launched new Reemployment Services designed to assist separated employees in securing new jobs swiftly while simultaneously reducing unemployment costs for employers. This initiative comes at a time when the U.S. Bureau of Labor Statistics reports that it takes an average of 22 weeks for individuals to find new employment, impacting both their financial stability and employer expenditures. The services include personalized job coaching and a comprehensive Reemployment Training Platform aimed at enhancing the offboarding experience and supporting job seekers.

Equifax (NYSE: EFX) has launched the TotalVerify™ data hub, a tool designed for social service agencies, lenders, background screeners, and employers to enhance trust, safety, and risk assessment. This hub integrates multi-data solutions, leveraging insights from the acquisition of Appriss Insights in 2021. With 11.2 million job openings in the U.S., the hub seeks to provide a comprehensive view of candidates, aiding in efficient service delivery amidst rising demand for social services. It also emphasizes data management to meet regulatory requirements.

Equifax (NYSE: EFX) has successfully completed the acquisition of LawLogix, a cloud-based provider of I-9 software and immigration case management solutions. Announced on July 21, 2022, this acquisition strengthens Equifax's Workforce Solutions business unit and expands its portfolio of employer-focused services. LawLogix's products, Guardian and Edge, support compliance with Form I-9 and E-Verify requirements while offering immigration case management capabilities. The transaction is not expected to materially impact Equifax's 2022 financial results.

Equifax has completed its acquisition of Midigator LLC, enhancing its global capacity in digital identity and fraud prevention solutions. The decision, announced on July 26, 2022, aims to leverage Midigator's post-transaction fraud mitigation technologies alongside Equifax's existing Kount business. This strategic move is expected to offer clients advanced tools for managing fraud throughout the customer lifecycle, although it is not anticipated to materially impact Equifax's financial results for 2022.