Equifax Completes Acquisition of Teletrack® from CoreLogic®
“Teletrack is one of the 8 acquisitions totaling approximately $ 3 billion that Equifax announced or completed in 2021. We are significantly reinvesting the outperformance of Equifax and leveraging the Equifax cloud for accretive, strategic and targeted mergers and acquisitions, ”said Mark W. Begor, CEO of Equifax. “The addition of Teletrack expands the range of differentiated data assets that ‘Only Equifax’ can provide. This powerful source of information will allow lenders and service providers to access more alternative data sources in credit decision making, which can help open up new financial opportunities for consumers.
Teletrack’s planned integration with DataX, an Equifax company operating within the company’s United States Information Solutions (USIS) business unit, is made possible by the transformation of Equifax to the cloud. Leveraging Equifax Cloud, Equifax moved data exchange to a cloud-native enterprise data management platform that is regionally deployed in 24 global markets. This Equifax data structure is designed to accelerate acquisition integration and also offers the ability to ingest, capture, link and enrich multiple data sources with advanced analytics including artificial intelligence and machine learning.
“Helping more consumers access traditional financial products and services requires new knowledge about individual financial history. Teletrack and DataX have a common commitment to make non-traditional credit information more accessible to US financial institutions and service providers, ”said Sid singh, President of Equifax USIS. “Bringing the DataX and Teletrack data assets combined with our unique data structure powered by Equifax Cloud will allow us to create new solutions that can be used in conjunction with alternative data assets such as consumer authorized bank transaction data. and the history of telecommunications and utilities payments to create more products that promote better access to credit and promote financial inclusion. “
Teletrack is now part of the USIS business unit of Equifax. For more information on the use of Equifax differentiated data assets in credit decisions, please visit Equifax.com.
This press release contains forward-looking statements and forward-looking information. All statements that deal with our performance and events or developments that we expect or anticipate will occur in the future, including statements relating to our future operating results, expected growth and performance, and the ability to incorporate the successful acquisition of Teletrack, and similar statements about our business plans are forward-looking statements. We believe these forward-looking statements are reasonable as they are made. However, forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from our historical experience and from our current expectations or projections. These risks and uncertainties include, but are not limited to, those described in our Form 10-K 2020 and subsequent SEC documents. Because of these risks and uncertainties, we urge you not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date on which they are made. We assume no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge is the engine of progress. As a global data, analytics and technology company, we play a vital role in the global economy by helping financial institutions, businesses, employers and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technologies generate insights that are useful in making decisions and moving people forward. Based at Atlanta and supported by more than 12,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific Region. For more information visit Equifax.com
ABOUT DATAX, EQUIFAX COMPANY
DataX, an Equifax company, is a credit bureau (CRA) specializing in the area of the Fair Credit Reporting Act (FCRA) and an alternative data provider providing leading financial management solutions to businesses through to a suite of advanced products. The insights gained from DataX services enable organizations to proactively manage risk, protect customers from fraud, reduce customer acquisition costs, and increase revenue opportunities. www.DataXltd.com
Teletrack is one of the leading specialized consumer information agencies (“CRAs”) providing credit data and non-traditional information to the alternative financial services industry. Teletrack provides differentiated consumer insights to enable clients to make informed lending decisions and monitor existing loan portfolios
CoreLogic, a leading provider of real estate information and solutions, promotes a healthy housing market and thriving communities. With its enhanced real estate data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance companies, government agencies and other housing market players to help millions of people to find, buy and protect their homes. For more information, please visit www.CoreLogic.com.
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Kate walker for Equifax
SOURCE Equifax Inc.