ATLANTA, Oct. 15, 2018 /PRNewswire/ -- Equifax Inc. (NYSE: EFX), a global information solutions company, today
announced that it is working with Yodlee, a financial data aggregation and data analytics platform, to help simplify the mortgage
loan process by making it easier for lenders to derive insights from borrowers' financial data.
This collaboration provides Equifax with access to real-time asset and income information on prospective customers who have
granted permission and helps streamline loan production, reduce fraud exposure in the application process, and give banks, loan
originators and lenders additional tools to assess risks in underwriting and portfolio management.
"Changing buyer behaviors, as well as advanced data and insights, are transforming the lending industry," said Craig Crabtree, Senior Vice President and General Manager, Equifax Mortgage Services. "Complementing the
robust suite of data and analytics that Equifax offers, this collaboration with Yodlee advances the mortgage process to ensure
that prospecting, qualifying and verifying processes keep pace with evolving customer needs and become more inclusive for
credit-worthy borrowers."
Equifax manages the nation's largest centralized repository of income and employment verifications, powered by The Work
Number, a proprietary data asset containing more than 350 million payroll records. Through the collaboration with Yodlee,
Equifax is enhancing its already robust verification offering. The addition of asset data will help Equifax provide the
industry with a fully rounded solution for verifying borrower income, assets and employment, all delivered in a seamless
electronic document and API flow.
"By utilizing our data intelligence, based on comprehensive consumer and small-business financial data available across
banking, credit and wealth management, this collaboration can quickly move the mortgage lending industry to the next level of
actionable, paperless processes," said Brandon Rembe, SVP, Products, Yodlee. "While this
collaboration begins in mortgage, we believe it will eventually benefit the entire lending ecosystem."
Follow our product news on Twitter at @EquifaxInsights and on LinkedIn at Equifax Business Insights.
About Equifax
Equifax is a global information solutions company that uses trusted unique data, innovative analytics, technology and
industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make
more informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central
and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P)
500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs
approximately 10,800 employees worldwide.
FOR MORE INFORMATION
Wyatt Jefferies
Media Relations
404-885-8907
Wyatt.jefferies@equifax.com
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SOURCE Equifax Inc.