ATLANTA, Nov. 2, 2018 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) today announced its latest commitment to finding solutions for more secure identity verification beyond the Social Security Number – a strategic relationship with the rapidly growing Better Identity Coalition. The Coalition is a national organization focused on developing and advancing consensus-driven, cross-sector policy initiatives that promote the development and adoption of better solutions for identity verification and authentication. Since its launch in February, nearly 20 companies from a variety of industries have united behind this important mission.
"Equifax has been off to a strong start in its transformation journey, especially with regard to enhancing our identity protection and authentication capabilities – but we're eager to do more," said Jamil Farshchi, Chief Information Security Officer for Equifax. "One of our commitments to consumers, our customers and to Congress was to play a meaningful role in the conversation about finding a more dynamic solution to outdated, static identifiers like the Social Security Number. We're pleased to partner with the Coalition in working toward a common goal of fostering meaningful change in the identity space that will ultimately help to keep consumer data more secure than ever."
As one of the largest global consumer credit reporting agencies, Equifax recognizes the importance of collaboration in protecting consumer data and is actively working with its partners and peers to advance the adoption and implementation of a more secure digital identifier. In addition to membership in the Coalition, Equifax is leveraging the new organization Atlanta for the Advancement of Security (ATLAS) to build support for a better identity solution. ATLAS is a council dedicated to information sharing and open dialogue between Chief Information Security Officers and currently includes more than 20 Atlanta-based private and public sector organizations.
Equifax is also on track to invest $275 million in 2018 to enhance processes, technologies and infrastructure – especially around identity and access management and data security – and will proactively share its learnings in these areas with The Coalition.
"This is a meaningful step in our unwavering commitment to protecting and defending consumers' data and their greatest asset – their identities," added Julia Houston, Chief Transformation Officer for Equifax. "While the Social Security Number is one of the most common ways to verify consumers' identities, it's also one of the most antiquated and static forms of authentication. Meaningful change in which our economy embraces a new and improved identity solution requires collaboration and consensus building among many different industries, policy makers, and thought leaders. We believe that, working with our partners in the Coalition, we can transform the way in which consumers do business – leading to an improved and more secure experience for millions of consumers every day."
Learn more about the work of The Better Identity Coalition at https://www.betteridentity.org/.
Equifax is a global information solutions company that uses 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 11,200 employees worldwide.
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SOURCE Equifax Inc.