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Originally published pyments.com July 24, 2019 Shoring Up FIs ‘Deteriorating Advantage’ Over Big Tech Conventional wisdom seems to hold that challenger banks will eat traditional financial institutions’ collective lunch in the race for deposits, for checking, even for credit cards. In that mindset, banks, laden with entrenched legacy systems, with disparate platforms — call it […]
Originally published https://www.americanbanker.com by Laura Alix May 14, 2019 Credit card delinquency rates hit a seven-year high in the first quarter largely because many borrowers in their 20s are struggling to keep up with their minimum payments, according to a new report from the Federal Reserve Bank of New York. In its quarterly report on household […]
By Maria L. Murphy, CPA June 10, 2019 Although FASB’s current expected credit loss (CECL) standard will be a significant game-changer for the financial services industry, it is critical that companies that hold financial instruments understand how it will apply to them, said Barry M. Pelagatti, CPA, partner in the Audit Services Group and leader […]
Published Equifax Insights blog on Jul 22nd, 2019 The Achilles’ Heel of Synthetic Identity Fraud By Christine M. Cornwell Losses from Synthetic Identity Fraud are Increasing Most of us are familiar with the fable from Greek storyteller, Aesop, about the boy who cries wolf. To get attention, he pretends a wolf is attacking his sheep. […]
Originally published by Equifax Gain market advantage with in-depth portfolio analysis PortfolioID Advantage™ provides a comprehensive view into the credit profile of your customers to help optimally manage portfolio performance while minimizing risk exposure. By evaluating your portfolio against the Equifax database of credit active consumers, PortfolioID Advantage delivers deeper consumer insights to enable your business to effectively: PortfolioID […]
Changes to MLA website going into effect making it more cumbersome to verify manually. Now is the time to stop manual research and get alerts on credit instead! Around June 27, 2019, DMDC will make significant changes to the Military Lending Act (MLA) website (https://mla.dmdc.osd.mil) to enhance security of the site and better protect the […]
Credit unions and small- to mid-size businesses may be a perfect match By Miranda GlancyOriginally published by Equifax Insights As credit unions look for ways to expand offerings and diversify asset portfolios, one area that is often overlooked is business lending. Many credit unions have avoided business loans altogether, focusing instead on individual members, and occasionally, […]
New collaboration combines multiple data assets to deliver broad actionable insights to lenders 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 […]
Fully automating the assessment of borrower income to meet underwriting and eligibility requirements ATLANTA, Oct. 15, 2018 /PRNewswire/ — Equifax Inc. (NYSE: EFX), a global information solutions company, today announced that it is working with Freddie Mac to create a simpler, faster and less costly path for lenders, and ultimately consumers, through its income verification tool, The […]