Equifax UK has launched a new suite of solutions for commercial lenders, drawing on its fully cloud-native commercial data platform to help clients meet key business challenges with speed and agility.
The Business Intelligence Suite™ harnesses cloud-hosted Commercial Credit Data Sharing and Insight attributes across a range of products to help Equifax UK clients make better decisions throughout the commercial customer lifecycle. The suite of solutions includes:
Turnover Forecast, helping clients assess business customers for credit or finance using projected turnover for the next 12 months
Business ID Plus, for enhanced trading validation for businesses using evidence of verified business activity
Business Foresight, to help assess business customers at risk of going into distress
Recovery Radar™, to help clients improve debt recoveries through greater data insights
Equifax is the first UK credit reference agency with fully cloud-native commercial data, offering enhanced speed to market for clients and with greater security. The solutions are available to Equifax UK’s closed user group of banks and lenders, which contribute to centralised insights under terms of reciprocity, while bespoke limited packages are also available to non-participating groups seeking the benefits of Equifax advanced business insights.
The launch of the Business Intelligence Suite™ brings to market the first phase of new Equifax commercial solutions, with further capabilities expected to be available in the future.
Mike Coley, Director of Commercial Products at Equifax UK, said: “As the first UK credit reference agency with fully cloud-native commercial data, our Business Intelligence Suite™ draws on all the benefits of our platform to offer speed to market for lenders and help overcome key commercial challenges. This new suite further strengthens our critical position in UK financial services infrastructure, empowering clients to meet the evolving demands of the modern commercial lending ecosystem.”