ATLANTA, Dec. 13, 2010 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) today announced the launch of a business identity verification and risk management solution for mid-market telecommunications and utility companies. Power Pack™ for Telco and Utility leverages Equifax's unique data assets and advanced analytics to help mid-sized providers quickly validate a business's identity and make more informed decisions around account deposit determination. Using this solution, telco and utility companies gain a more comprehensive view of a businesses' financial profile to improve application screening, streamline the service activation process and reduce write-offs.
"By providing both business identity verification and payment risk information, we have equipped mid-market telco and utility companies with an easy, inexpensive way to make informed decisions about potential business customers," said Dan Csont, Chief Marketing Officer, Equifax Commercial Information Solutions. "Power Pack for Telco and Utility pulls together only the most relevant information into one, easy-to-understand format."
Business identity verification and access to multiple data sources are especially valuable for telco and utility companies which have significant annual write-offs due to fraud and non-payment. Power Pack for Telco and Utility enables businesses to make better application and risk decisions by integrating data from Equifax and third-party sources. With access to Equifax's extensive data and proprietary risk scores as well as identity verification solutions, telco and utility companies can efficiently confirm the identity and past payment history of new applicants.
Customers that use Power Pack for Telco and Utility can select from three versions of this solution:
- Power Pack includes company name, address, firmographics and public records, making it easy to confirm the legitimacy of a business.
- Power Pack with Score is comprised of the basic solution plus the Business Credit Risk Class™ which includes only non-financial institution data, enabling identity verification and quick credit risk assessment.
- Power Pack with Premium Score offers the basic product plus the Small Business Risk Class™, which includes financial services and non-financial data – making it a more predictive scoring solution.
Power Pack for Telco and Utility offers customers a number of add-on features such as Business Failure Risk Rating™, which predicts the likelihood of business failure through formal or informal bankruptcy within a 12-month period. Also available is Business Fraud Advisor™, an industry-leading fraud solution used to validate the identity of a business and verify application data while identifying applications with the highest likelihood of fraud. Customers interested in a more detailed view of a company's credit obligations, payment capacity and overall risk have the option of purchasing the Equifax Business Credit Report™ which includes a business profile, public records, trade receivable payment history as well as bank and lease payment information.
For more information about Power Pack for Telco and Utility and other Equifax business solutions, visit www.equifax.com/commercial.
About Equifax Inc. (www.equifax.com)
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage 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.
Equifax Commercial Information Solutions is the leading provider of small business intelligence. We provide the information and expertise necessary for companies to best understand and manage their dealings with small business customers, prospects and suppliers. Our best-in-class commercial credit risk data, combined with highly predictive scoring, corporate linkage, and innovative technology, enables companies to make quick, confident credit decisions and minimize potential losses. Leveraging our EFX ID® keying and linkage technology, companies can also gain greater visibility into their supply chain as well as improve the precision of their sales and marketing efforts – from customer acquisition to retention and expansion.
With a strong heritage of innovation and leadership, Equifax continuously delivers innovative solutions with the highest integrity and reliability. Businesses and government entities in the U.S. and Canada rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more.
Headquartered in Atlanta, Georgia, Equifax Inc. operates in the U.S. and 14 other countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.