EQUIFAX HELPS LAUNCH EVERYDAY LOANS
Three year contract to provide vital support to consumer finance start-up
London, 17th May 2007 – Equifax, the consumer credit risk and scoring expert, has won a major new contract with new high street lender, Everyday Loans Limited (everydayloans). Under the new agreement Equifax is providing bespoke scorecards enabling everydayloans to make fast, effective application decisions in the sub-to-near prime market. Equifax’s powerful suite of credit risk assessment tools and its unrivalled level of consumer data means that it is the ideal partner for start-ups like everydayloans which need expert support to set up robust business systems in the UK financial services market.
everydayloans is a branch based financial services company, providing a friendly, face-to-face lending environment for customers looking for unsecured and secured personal loans. In November 2006 it launched into the non-prime consumer finance market with 23 branches already open and further expansion planned. everydayloans needed bespoke scorecards to streamline application decisioning in its high street branches and wanted to use multiple channels to market, including direct mail, telephone, the internet, brokers and media.
“Our strong relationship management and experience of working with new start-ups, proved an unbeatable combination for everydayloans ”, explained Sandra Lawrence, General Manager, Equifax. “By supporting its IT solution, we enabled everydayloans to go live extremely quickly, helping them to control risk in the non-prime market.”
Danny Malone, CFO of everydayloans confirmed: “Equifax supported our aggressive launch targets, providing excellent technical support from key individuals with extensive experience. This was invaluable during the system set-up and will give us ongoing benefits as the business expands.
“Furthermore, Equifax’s Predictive Sciences team consulted with us throughout the development of our bespoke scorecards to build a solution utilising the power of Equifax’s data and capitalising on the company’s experience of our sector of the financial services marketplace.”
Sandra Lawrence, Equifax concludes, “This win is further testament to the powerful combination of data and expertise Equifax can provide to new and established businesses. We are continuing to work closely with everydayloans to offer vital support in the development of systems that meet the changing needs of the business, helping it expand and develop.”
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Notes to Editors
For further press information please contact: Claire Foster, Kate Clements or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: claire@harrisonsadler.com
About Equifax
Equifax Inc. is a global leader in information technology that enables and secures global commerce with consumers and businesses. We are one of the largest sources of consumer and commercial data. Utilizing our databases, advanced analytics and proprietary enabling technology, we provide real-time answers for our customers. This innovative ability to transform information into intelligence is valued by customers across a wide range of industries and markets. Headquartered in Atlanta, Georgia, Equifax employs approximately 4,600 people in 13 countries throughout North America, Latin America and Europe. Equifax was founded 107 years ago, and today is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX. .
Equifax. Information That Empowers.
