Welcome to our dedicated page for Equifax news (Ticker: EFX), a resource for investors and traders seeking the latest updates and insights on Equifax stock.
Equifax Inc. (NYSE: EFX) is a global data, analytics, and technology company whose news flow reflects its role in credit reporting, workforce solutions, and compliance services. As one of the major U.S. credit bureaus, Equifax regularly releases updates that matter to lenders, employers, and policymakers, as well as to investors following the EFX stock.
News about Equifax often highlights new data and analytics products, such as tools that use the Equifax Cloud™ and EFX.AI™ capabilities for risk assessment, fraud prevention, and personalized credit score planning. Recent announcements include the launch of Income Qualify, which delivers income and employment insights from The Work Number® to mortgage lenders earlier in the lending process, and the introduction of Optimal Path™, an interactive score planner integrated into platforms like Kikoff.
Equifax also issues releases on workforce and employer services, including unemployment claims solutions like the Unemployment Claims Power of Attorney Manager and verification enhancements driven by acquisitions such as Vault Verify. Regulatory and risk-related news includes new Anti-Money Laundering (AML) Compliance Solutions that use AI to screen and monitor customers against sanctions and high-risk lists.
Investors tracking EFX can find announcements on quarterly dividends, participation in investor conferences, and periodic Market Pulse reports that summarize U.S. consumer credit trends using Equifax data. This news page aggregates these product launches, market insights, capital markets events, and corporate updates in one place, providing a focused view of how Equifax’s data, analytics, and cloud technology are being applied across credit, employment, and compliance use cases.
Equifax (NYSE: EFX) reported record financial results for Q1 2021, achieving revenue of $1.2 billion, up 27% year-over-year. This marks the fifth consecutive quarter of double-digit revenue growth. Workforce Solutions and USIS revenue surged by 59% and 19%, respectively. The company's net income rose by 72% to $201.6 million, and diluted EPS increased to $1.64. Equifax completed five acquisitions aimed at enhancing its data capabilities and raised its full-year revenue guidance to between $4.575 billion and $4.675 billion.
Equifax (NYSE: EFX) will announce its Q1 financial results on April 21, 2021, after market close. A conference call to discuss results is set for 8:30 am ET on April 22. Senior management will provide insights related to the financial performance during the quarter. Interested parties can access related materials on investor.equifax.com by 6:30 am ET on April 22. Equifax is a global data and analytics company with a presence in 24 countries and over 11,000 employees.
Equifax (NYSE: EFX) has launched a new solution called Payment Insights, developed in partnership with Urjanet. This cloud-based tool enhances financial inclusion by allowing consumers to share their utility and telecom payment histories with lenders, irrespective of their traditional credit scores. Notably, 63 million American adults are either unbanked or underbanked, often relying on expensive alternative financial services. Payment Insights aims to empower these consumers, providing lenders with critical insights into their financial history, thus increasing access to mainstream financial services.
Equifax (NYSE: EFX) has completed the acquisition of i2verify, enhancing its automated verification solutions. This move targets improved efficiencies for consumers and verifiers, particularly in the employment and wage data sector. i2verify, established in 2011, is recognized for its instant access to employment data and complements Equifax's existing services under The Work Number®. The acquisition aligns with Equifax's strategy to innovate through differentiated data and cloud technology to drive growth in consumer access to credit and financial services.
Equifax (NYSE: EFX) has appointed Julia Houston as Chief Strategy and Marketing Officer, expanding her role to include global marketing leadership. This move aims to enhance alignment with company strategy and drive innovation. CEO Mark W. Begor emphasized that Houston's leadership will facilitate synergies across various departments, supporting customer growth solutions. Houston has been instrumental in Equifax's recovery post-2017 cyber incident and has significantly contributed to the company's transformation and growth strategies.
Equifax (NYSE: EFX) has announced a new integration between The Work Number database and PrimePay, a payroll service provider. This integration automates the process of verifying income and employment, thus streamlining decision-making for consumers. With access to over 114 million records, the service aims to reduce manual HR tasks and improve employee benefits and credit decisions. The verification service is available at no cost to PrimePay clients, enhancing efficiency and privacy in verification tasks.
Equifax (NYSE: EFX) has successfully completed the acquisition of HIREtech, enhancing its Workforce Solutions portfolio. This move aims to deliver improved employer and verification services through advanced technology in human capital management. HIREtech's platform will facilitate better access to data and insights for businesses, supporting critical financial and hiring decisions. CEO Mark W. Begor emphasized that this acquisition aligns with Equifax's growth strategy and commitment to innovation within the HR sector.
Equifax (NYSE: EFX) has launched a new Commercial Real Estate (CRE) Tenant Risk Assessment product suite aimed at asset managers and bankers to improve portfolio management. This suite leverages Equifax's commercial credit data to evaluate tenant financial stability, especially crucial during the economic challenges posed by COVID-19. The suite features a Tenant Risk Assessment Report™ and a cloud-based application to track tenant payment patterns and flag potential risks. This helps stakeholders mitigate losses in a period where 59% of CRE executives reported increased rental payment issues.
Equifax (NYSE: EFX) has launched the Equifax Ignite Lost Sales Analysis solution, designed specifically for mortgage and home equity lenders. This tool provides differentiated data and actionable insights, helping lenders analyze why pre-approved prospects do not close loans. With mortgage applications surging by 42.2% in December 2020, understanding lost sales is crucial for improving marketing ROI and retention. The solution integrates cloud technology with lender data, allowing users to visualize KPIs and optimize marketing strategies effectively.
Equifax (NYSE: EFX) has enhanced its I-9 Anywhere product, catering to employers' remote onboarding needs as the trend of remote work persists. The expansion focuses on increasing the network of trained Form I-9 completers, particularly in states with rising employment. Companies are increasingly seeking remote hiring solutions; a recent survey indicated 36% of firms are open to fully remote hires. The I-9 Anywhere service meets USCIS requirements and simplifies the Form I-9 process for both new hires and re-hires, emphasizing accuracy and efficiency.
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