Businesses today want, and need, long-running relationships with their customers. Ideally, they want to know them all through their financial lives, accommodating customers’ needs as they navigate decisions both big and small. This knowledge gives businesses the chance to up-sell and cross-sell. Plus, of course, there is the simple truth that it costs more to acquire a new customer than to retain an existing one.

In addition to this there is an emotional reason for getting to know the customer well - and treating them well. There is a huge opportunity to entrench a brand in their lives as something more than “just a business.” Children often get to know the brands their parents buy and use, whether it be anything from a food brand to a car. This sense of trust can be passed on from generation-to-generation. The brand means something, and that meaning resonates down through the years.

But there’s a problem here. As businesses grow, their communications, processes and decision-making can seem increasingly remote. This can lead to customers, even those of many years, feeling taken for granted. It is a real risk - and one that many thousands of companies globally have to deal with.

At Equifax, we solve this by believing in a different world. This isn’t a utopian fantasy; rather, it’s a world in which we improve the work of our clients and the lives of millions of their customers. We offer better data, deeper client understanding and more customisable data. This means we don’t just give quick yes/no answers. We see our clients’ customers in a far more detailed and nuanced light. We respond to their individual needs, rather than seeing them as a number. As a result, it means the decisions that we provide are fairer and more balanced. For our clients this means decisions are clearer; for their customers it means they have a greater likelihood of getting what they want; for us, it means we can be proud of serving our customers. In short, all parties benefit. 

It is this approach which has benefitted millions of people around the world. For example, only last year Equifax enabled 642,000 people in the UK to buy their first home. 

This fairness doesn’t just apply to how we treat our customers - it applies to our people and the environments we work in too. To us, a world beyond yes and no is not a pie-in-the-sky notion. It is a realistic world that we believe our clients, and their customers, deserve. At Equifax, we’re making it a reality.

View our latest video here.