Equifax Limited has become the first of the three main UK based credit reference agencies to be named on Crown Commercial Service’s (CCS), Open Banking Dynamic Purchasing System (DPS) framework for Open Banking services. 

This development allows Equifax to bid to provide Account Information Services (AIS) to any UK public sector body that uses the DPS. These include central government departments and wider public sector bodies, such as, local authorities, NHS, police, education providers, devolved administrations and charities, to access Equifax’s Open Banking solutions. 

CCS supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2022/23, CCS helped the public sector to achieve commercial benefits equal to £3.8 billion - supporting world-class public services that offer best value for taxpayers. 

Equifax’s Open Banking proposition provides integrated solutions to help public sector bodies use data to gain real insights. We can help buyers harmonise the data Equifax already holds about your customers with their bank transaction data to build a more complete picture and to deliver valuable insights for a variety of use cases. With the inclusion in the DPS framework, public sector buyers can tap into Equifax’s services which include, identity verification and fraud services , income verification,, credit risk and affordability assessments.  

This announcement marks a significant milestone for Equifax, which already has strong ties to Central Government, Local Government and Law enforcement agencies. 

James Hilton, Chief Commercial Officer, TDX Group, and Equifax Public Sector, comments: “We’re proud to become an approved supplier on CCS’s Open Banking DPS Framework. Our Open Banking capabilities are a vital part of Equifax’s services and capabilities, having built one of the most powerful Open Banking categorisation engines. Equifax works with leading financial players, and our Open Banking solutions provide faster verification, and more accurate decision making, within financial services and beyond. Therefore, it is extremely positive that these capabilities are being integrated within the public sector. We believe that Equifax’s consultative and proactive approach to creating and integrating the best solutions for our clients, means we’re well-placed to provide valuable insights to the public sector.”

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ABOUT EQUIFAX:  

At Equifax Inc., (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region.  

Equifax Ltd is one of the Equifax group companies based in the UK. Equifax Ltd is authorised and regulated by the Financial Conduct Authority. For more information, visit equifax.co.uk and follow the company’s news on LinkedIn.  

ABOUT CCS:

Crown Commercial Service (CCS) is an Executive Agency of the Cabinet Office, supporting the public sector to achieve maximum commercial value when procuring common goods and services.

To find out more about CCS, visit: www.crowncommercial.gov.uk