ADDISON, Texas (August 23, 2016)
Digital Matrix Systems, Inc. (DMS) today announced that it has expanded its relationship with Atlanta-based Equifax to provide DMS clients with access to a new consumer risk score – FICO® Score XD, which was developed by FICO in partnership with Equifax and LexisNexis. In addition, DMS’s expanded relationship with Equifax now allows DMS to deliver different Equifax products and services through the streamlined TotalView from Equifax delivery channel.
The strongest risk management strategies in use at leading financial services, auto finance, and insurance companies employ not only traditional credit data, but a balance of alternative data as well. The additional delivery channel will provide a wide range of insights that lead to better-informed decisions:
- TotalView from Equifax is a streamlined, cost-effective way to access a broader range of Equifax data sources, providing both credit and alternate data through a single access point. Data available includes fraud detection, property data and analytics, income and employment verification, and enhanced credit information.
- FICO Score XD helps bank card lenders score additional creditworthy consumers that would otherwise be unscoreable through the use of data that resides outside traditional credit files, including public records as well as a consumer’s history of phone, cable, and utility payments.
Access to FICO Score XD and TotalView will be available through Data Access Point™ by DMS, a cutting-edge connectivity hub that offers clients flexibility when using both traditional and alternative data sources.
“The DMS platform is ideally suited to deliver our risk assessment solutions,” said Gaurav Khanna, General Manager of Connector and Channel Partnerships for Equifax. “Being able to deliver both traditional and alternative data helps to both strengthen underwriting decisions and deepen the credit eligibility pool.”
“We are pleased to continue to work with Equifax in support of our clients’ expanding data needs,” said David Graves, DMS executive vice president. “There is a growing need for additional data sources, especially quantifiable and actionable data on underbanked consumers.”
Equifax powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its databases include employee data contributed from more than 5,000 employers.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,200 employees worldwide.
Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune’s World’s Most Admired Companies (2011-2015); named one of Forbes’ World’s 100 Most Innovative Companies (2015). For more information, visit www.equifax.com.
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.
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