Consumer Finance

Equifax Launches Consumer Finance Dataset

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Equifax, the credit scoring company still reeling from a massive data breach last year, announced news on Monday (Feb. 26) of the launch of Analytic Dataset, a new tool that provides borrower-level data in an anonymous and non-aggregated format.

In a press release, the company said the dataset provides information for researchers and modelers, including “credit risk scores, geography, debt balances and delinquency status at the loan level.” Equifax noted the new data service will enable investors and market participants to enhance their modeling for delinquency, default, loss severity and prepayment. It will also enable them to more accurately value securities and understand consumer credit trends from a broad level.

Furthermore, Equifax said the tool can be used by asset-back securities and mortgage-backed securities investors, issuers, traders and ratings agencies researchers. It can analyze and model consumer payment performance across different asset classes like autos, credit cards, mortgages and personal loans that are not secured by any assets or collateral.

“When businesses or government entities are able to apply segmentation and perform analytics by credit quality or asset class, they can better determine important factors, such as how consumers prioritize payments and the impact of behaviors of given loan types on other forms of credit,” said Geoffrey Hickman, managing director of Government Credit and Capital Markets at Equifax, in a press release. “This, in turn, gives them the ability to drive a deeper level of understanding and improve modeling efforts.”

According to Equifax, Analytic Dataset is available, starting today, for direct delivery and can also be accessed through 1010data.  

“1010data is excited to expand our decade-long partnership with Equifax by hosting their new Analytic Dataset. This is the largest and most powerful consumer modeling set across all consumer asset types,” said Perry DeFelice, director of 1010data in the same press release. “The combined Equifax/1010data-hosted solution eliminates the burdens traditionally associated with managing and analyzing data of this size and complexity by providing direct browser-based access to every data element, at its most granular level, for unlimited analytical flexibility.”

The Analytic Dataset solution enables entities “with little or no historical data in multiple consumer asset classes” to acquire insights that can improve business prospects on a material level.

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