Equifax Inc Stock Price, News & Analysis

Equifax (NYSE: EFX) has unveiled its new OnboardConnect solution aimed at accelerating business-to-business transactions. This innovative platform combines unique data sources and analytics for nearly real-time verification, fraud checks, and compliance assessments. OnboardConnect can reduce onboarding time from days to hours, enabling businesses to authenticate new customers more efficiently. With the increase in business applications—4.3 million in 2020—this tool is critical for lenders and merchants seeking to streamline processes and seize new opportunities.

Equifax has concluded its 2021 Accelerate program, which invited U.S.-based start-ups to develop solutions promoting financial inclusion using Equifax APIs. A total of 10 finalists showcased their projects across various sectors, including fintech and digital identity. The initiative, backed by a $1.5 billion investment in technology and security, drew participation from over 100 early-stage companies. Chief Technology Officer Bryson Koehler emphasized the program's role in driving innovation within the industry.

The Equifax Board of Directors has declared a quarterly dividend of $0.39 per share, payable on Dec. 15, 2021, for shareholders of record as of the close of business on Nov. 24, 2021. This marks over 100 consecutive years of cash dividend payments, demonstrating the company's commitment to returning value to shareholders. Equifax operates globally, providing critical data and analytics services to various sectors, supporting financial institutions and government agencies in decision-making.

Equifax (NYSE: EFX) has announced an expansion of its Environmental, Social, and Governance (ESG) commitments, including annual quantitative disclosures in line with the Sustainability Accounting Standards Board (SASB) framework. The company aims for net-zero greenhouse gas emissions by 2040, driven by its transition to the Equifax Cloud, which will reduce its operational footprint. Equifax also disclosed its Equal Employment Opportunity (EEO-1) report, highlighting a diverse workforce, with 45% of employees identifying as women and 42% from diverse racial groups.

Equifax (NYSE: EFX) has enhanced its cloud-based OneView™ report, now incorporating alternative data insights from DataX. This improvement aims to assist lenders by providing a comprehensive view of consumers' financial profiles, addressing the needs of the 63 million unbanked or underbanked individuals in the U.S. The enhanced report delivers vital data in a visually accessible format, allowing businesses to make informed decisions. Current users can access the new features immediately, while new customers can explore them via Equifax's API portal.

Equifax (NYSE: EFX) is set to host a virtual Investor Day on November 10, 2021, from 8:30 a.m. to 12:00 p.m. ET. The event will cover the company's EFX2023 strategy, detailing long-term financial frameworks, capital allocation, and the impact of the Equifax Cloud on innovation and growth. Key executives, including CEO Mark W. Begor and CFO John Gamble, will present. Interested attendees can register using passcode EFX_ID2021, and the replay will be available from November 11 at investor.equifax.com.

Equifax reported record third quarter revenue of $1.22 billion, reflecting a 14% increase year-over-year. Workforce Solutions revenue surged 35%, marking the tenth consecutive quarter of double-digit growth. Despite revenue gains, net income fell 10% to $205.4 million, and diluted EPS decreased 11% to $1.66. The company has raised its guidance for full-year revenue to a range of $4.901 billion to $4.921 billion. Strategic acquisitions are positioned to enhance future growth and drive innovation.

Equifax (NYSE: EFX) announced new expedited options for manual verifications of employment, offering Priority Next Day™ and Priority Two Day™ services. These options aim to improve turnaround times for verifiers, setting a standard in the industry for rapid employment verification. Priority Next Day VOE ensures requests are fulfilled by 11:59 p.m. CT the next business day, while Priority Two Day VOE completes requests by 11:59 p.m. CT two business days later. Equifax processes over 500,000 verifications daily, enhancing its service efficiency.

Equifax (NYSE: EFX) has launched its Digital Identity as a Service solution to enhance fraud detection for businesses. This service will be integrated into Bonifii's MemberPass, providing credit unions with improved identity verification capabilities. By utilizing cloud technology, Equifax enables secure and scalable real-time insights to combat sophisticated fraud attempts. The service allows users greater control over their personal information, improving user experience and reducing identity fraud risks. This partnership marks Bonifii as the first adopter of the new service.