Confluent Strategies/Equifax Training Portal
Chapter 27: EFX Alliances

Lesson 1: Equifax Partners

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IN THIS LESSON

  • Chex Systems is a consumer reporting agency that collects and maintains information on consumers' checking and savings account histories. This information is used by financial institutions to determine whether or not to approve a consumer for a new checking or savings account. Chex Systems keeps records of negative account activity, such as unpaid overdraft fees or bounced checks, for up to five years. Consumers are entitled to one free copy of their Chex Systems report per year and can dispute any inaccurate information.

  • Qualifile is a fraud prevention tool used by financial institutions to screen potential customers before opening new accounts. It checks for any negative history associated with the customer's name, such as past instances of identity theft, fraud, or other financial crimes. This helps financial institutions to reduce their risk of losses due to fraudulent activities and to comply with regulatory requirements. Qualifile is a reliable and efficient way to ensure that customers with a history of fraud are not able to open new accounts, protecting both the institution and legitimate customers from financial harm.

  • Zest AI is a company that specializes in using artificial intelligence to improve credit underwriting. Their platform analyzes vast amounts of data to help lenders make more accurate and fair credit decisions. Zest AI's technology is designed to remove bias and improve the overall efficiency of the underwriting process. By leveraging machine learning, Zest AI is helping to make credit more accessible and affordable for people who might otherwise be overlooked by traditional lending methods.

  • TruStage is a financial technology company that provides a lending automation platform to credit unions and banks. Their platform uses data analytics and machine learning to offer personalized lending options to customers, making the lending process faster and more efficient.

    TruStage aims to help financial institutions increase loan volumes, while also improving customer experience and reducing manual processes.