Equifax Canada empowers businesses to arrive at better credit decisions faster, with Risk Reveal

Share

Equifax Canada | April 20, 2017

equifax_01

TORONTO, ONTARIO--(Marketwired - April 20, 2017) - (NYSE:EFX) - Equifax Canada® announced today the launch of Risk Reveal, the only solution in the Canadian market that leverages both commercial and consumer intelligence for a robust and predictive view of a company, as well as its owners.

Combining the depth of two credit databases in one solution, Risk Reveal brings together credit scores, credit data, legal actions, and collections data for both a corporation and its principals, enabling businesses to assess client risk with greater speed and predictability, helping to minimize the potential for fraud.

See:  Credit Card Companies Have No Choice But To Embrace Blockchain

"It can be difficult to fully understand the credit worthiness and potential for delinquency for a small business," notes George Staikos, Director of Commercial Markets at Equifax. "Is the business being funded through the owner's personal accounts? Or did the owner opt for a business credit card or loan? Or both? Risk Reveal provides a 360-degree view of a small business' risk."

Risk Reveal returns a report for the business inquired upon, and reports for up to three owners/guarantors, as well as a commercial and a consumer delinquency score which predicts the likelihood that a business will become severely delinquent (non-payment for 90 days or greater, in the next 12 months). That data is distilled into a dual risk score that helps businesses adjudicate customers better and faster while reducing write offs.

"This solution, the first in Canada, provides a greater understanding of true credit risk," says Staikos. "Risk Reveal enables businesses to keep profits on track and risk in check."

Source:  Equifax Release

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support and networking opportunities to over 1500+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

 

Share

Leave a Reply

Your email address will not be published. Required fields are marked *