Equifax signs up its 100th member in just four months since commencing credit bureau operations in India
Equifax Credit Information Services Private Limited (ECIS), the joint venture between Equifax and six leading Indian financial institutions (Bank of Baroda, Bank of India, Kotak Mahindra Prime Limited, Religare Finvest Limited, Sundaram Finance Limited and Union Bank of India), has signed up its 100th member. ECIS has seen remarkable growth and has gained the trust of financial institutions from across India.
“India’s financial community is hungry for new solutions and sees Equifax as a key player in the credit information chain,” said Samir Bhatia, MD and CEO of ECIS. “We are excited about working with each of our members and look forward to leveraging our expertise to help our customers to improve lending decisions. Members have already started to draw information from the bureau and are very impressed with the quality of the reports being delivered.”
Equifax is actively engaged with members to build a comprehensive pan India consumer bureau with high quality information. To-date, Equifax has helped its members achieve an average load rate far in excess of 90%. Equifax is also working directly with members to streamline and secure their data cleansing and contribution processes with its time tested data quality platform used throughout the world.
Equifax is currently working with customers on introducing new products and services primarily focused on portfolio review and account management to assist with retention, optimisation, and collections. Equifax is also starting to help introduce customers to technology and analytic solutions for leveraging multiple consumer bureaus in their decisions.
About Equifax
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, Equifax leverages one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.
With a strong heritage of innovation and leadership, Equifax continuously delivers innovative solutions with the highest integrity and reliability. Businesses – large and small – rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. Equifax empowers individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Equifax Inc. operates in the U.S. and 14 other countries. Equifax is a member of Standard & Poor’s (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange under the symbol EFX.
