ATLANTA and NEW YORK, April 27, 2021 /PRNewswire/ -- Global data, analytics and technology company Equifax (NYSE: EFX), and global fintech innovator, Revolut today announced a new strategic relationship. Used by more than 15 million people globally to make over 100 million transactions a month, Revolut has selected Equifax to better serve its customers in the United States and provide a more diverse range of services. Equifax was chosen for the ability to provide cloud-native differentiated data assets and real-time predictive analytics for a faster, more informed view of customers and prospects.
"We're on a mission to build the world's first global financial superapp," said Ronald Oliveira, CEO of Revolut U.S. "Equifax has a strong understanding of the global fintech space. They provided us with the flexibility we needed to replicate our unique business model internationally while giving us a deeper view of the needs of consumers and small businesses as we seek to provide a more diverse range of products for our customers in the U.S."
Equifax is the only cloud-native consumer credit reporting agency. Being cloud-native is what enables innovation at scale - providing the unique ability to give deeper, more predictive insights, customized solutions, faster results, and maximum security. With Equifax, Revolut is able to obtain the decision intelligence they need within milliseconds, enabling them to quickly help more consumers and small businesses access more financial opportunities and manage their money with greater freedom. Equifax also provides a number of flexible, innovative solutions, including the new InnovationX immersive experience, to support the needs of rapidly expanding fintechs like Revolut.
"Data is at the heart of fintech innovation and competitive advantage," commented Sharla Godbehere, Leader of FinTech and Alternative Financial Services for Equifax United States Information Solutions (USIS). "We partner with fintechs of all sizes to provide the data and analytics they need to innovate at the speed of now. With Equifax, Revolut is able to quickly improve its service and decision-making outcomes with richer context on the U.S. market. We're providing actionable insights that can help Revolut acquire new customers seeking financial opportunity while mitigating risk and increasing revenue."
Revolut customers can open a multi-currency account in minutes and are able to access an array of services immediately after account setup. The app allows individuals to exchange, send and receive 28+ currencies in seconds; manage money with spending analytics; withdraw from over 55,000 surcharge-free ATMs nationwide; access their salary up to two days in advance; and more.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com
We are building the world's first truly global financial superapp. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, 15 million customers around the world use dozens of Revolut's innovative products to make more than 100 million transactions a month.
Across our personal and business accounts, we help customers improve their financial health, give them more control, and connect people seamlessly across the world. www.revolut.com
The Revolut USA Prepaid Mastercard is issued by Metropolitan Commercial Bank pursuant to a license from Mastercard International and may be used everywhere Mastercard is accepted. Banking services are provided by Metropolitan Commercial Bank, Member FDIC. Revolut Technologies Inc. is a technology services provider and administrator of the card program.
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Kate Walker for Equifax
Jane Nho for Revolut
SOURCE Equifax Inc.