Equifax Russia Continues Progress with New Product and Conference
ATLANTA, May 14 /PRNewswire-FirstCall/ -- Six months after becoming the operator and investor of Russia's premier nationwide credit bureau, Equifax Russia is holding a client conference in Moscow today, May 14, to discuss with current and potential customers the country's economy and how the company's credit data and products can help them manage risk and grow their business even during difficult economic periods.
Equifax Russia launched its scoring product, the Bureau Score, in March 2009 and within the first month had four financial institutions testing its credit and risk management products, and one of the country's largest banks using the Bureau Score in its underwriting processes.
The Bureau Score is based on actual and current Russian credit data, accommodating unique Russian market aspects, such as the markets' recent credit tightening.
"We leveraged Equifax's global predictive sciences experience to launch a series of products including the bureau score that can be used for all aspects of credit acquisition and credit management," said Ross McKay, vice president commercial and emerging markets product management. "Given the newness of the credit experience to many Russian consumers and commercial enterprises, we've even created a "no-hit" score which enables users to use demographic information to provide a risk assessment for consumers with little or no credit history. "
Equifax Russia is the leading credit bureau in Russia. Its database includes nearly 25 million trade records on more than 18 million individuals and businesses from more than 60 data providers under contract. In addition to the new credit score, Equifax Russia also offers standard credit reports and credit file enhancements with additional data and customer-specific configurability.
"Equifax has significant experience in providing unique credit-based solutions to financial institutions throughout the world. We are using our experience, technology, data assets and analytics - along with those of our partners -- to help our customers make critical business decisions in this fast-growing market," said McKay. "Our client conference will allow us to detail our products and how they're helping our clients better understand how our credit information and products will help them manage risk, particularly during these tough economic times."
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.
Customers have trusted Equifax for over 100 years to deliver 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. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Georgia, USA, Equifax Inc. operates throughout the U.S. and in 14 other countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500(R) Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.
SOURCE Equifax Inc.
Released May 14, 2009