PARTNER SPOTLIGHT:
EQUIFAX

Automotive lenders are looking for ways to mitigate risk, automate more approvals, and better determine pricing and loan terms – all while keeping a competitive edge. Lenders need solutions that can complement their existing methods to further identify risk and broaden their data insight. That’s why they turn to Equifax.

How Equifax can help.

In addition to traditional U.S. and Canadian credit data, Equifax offers the following solutions via defi LOS:

The Work Number^® provides lenders with a fast, digital way to clear stipulations in the lending process, helping consumers get a quicker loan decision. Instant verifications of income and employment can help lessen the burden of verifying borrower-provided documents such as pay stubs, W-2’s, and applicant stated income, providing auto lenders with a faster, more efficient lending process.

Learn more about The Work Number by watching this short video or by visiting theworknumber.com

FraudIQ^® Synthetic ID Alerts use patent-pending machine-learning algorithms to detect synthetic ID behaviors and patterns at various entry points. The alerts can be used during account origination to sort applications that trigger an alert into a manual review process. When used in waterfall with a traditional Equifax credit report, auto lenders can leverage these real-time alerts to vet new customers opening or applying for an auto loan.

Click here to learn more about Equifax’s Identify and Fraud solutions.

Equifax and defi have partnered to provide lenders with access to one of the industry’s most comprehensive commercial credit risk data, designed to help make the lending process faster, easier, more accurate, and more profitable. This proprietary database consists of over 33 million borrowers,over 165 million commercial contracts, and $4.7 trillion in total originations expanding access to credit beyond the traditional consumer credit file.

Click here to learn more about Equifax’s Commercial solutions.