Equifax Acquires Workload Financial Business
The acquisition of Workload is part of Equifax's global strategy to continue to develop its wealth intelligence business.
Workload operates a shared investment product data exchange with information provided by over 90 of the financial services companies in the UK.
Additionally, Equifax has formed a relationship with Interthinx, a Verisk Analytics company, to give financial institutions unprecedented visibility into the underwriting process. Now, Interthinx clients can seamlessly access Equifax's Undisclosed Debt Monitoring solution through FraudGUARD to address investor and lending requirements and uncover undisclosed debt - a multi-billion dollar challenge in the mortgage market.
Through this relationship, mortgage originators, investors and insurers benefit from enhanced risk mitigation, reduced fraud and fewer loan buybacks.
Shawn Holtzclaw, managing director of Equifax, said: â€œAdding their extensive wealth and asset data, including information on ISAs, bonds, unit trusts, pensions and mortgages to our own data, means we can give consumer-facing businesses in a wide range of markets a greater overall insight into the financial status and capabilities of customers and prospects. This will enable us to deliver improved customer acquisition, retention and growth for our clients.â€
Mark Hamill, managing director of Workload, said: â€œThis partnership gives us a fantastic opportunity to build and improve on the services which we currently provide to our increasingly sophisticated client base. Working with the Equifax team we will be able to help companies improve all aspects of their business growth strategies.â€
Will the acquisition benefit Equifax?
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