Equifax Ignite and Interconnect Help Institutions Streamline Decisions, Assess Risks and Better Serve Customers
In less than two years since launching Ignite as a one-stop data and analytics solutions suite, Equifax Inc. has witnessed institutions from subprime lenders to retailers improve outcomes with powerful business results. Long-time customer, Lendmark Financial Services, a consumer finance company specializing in providing a variety of personal loans, automobile loans, and retail merchant finance services, now uses Equifax Ignite and InterConnect solutions to better qualify and deliver meaningful customer offers, more accurately assess risk, and serve their customers in a more efficient way.
“The combination of Equifax Ignite and InterConnect solutions will help us turn our data into actionable insights enabling us to create more consistent and profitable marketing campaigns, account acquisition strategies, portfolio review processes and account management decisions,” said Steve Wheeler, Chief Risk Officer, Lendmark. “We’ll be able to tailor the solutions to meet our customer’s specific needs and build custom models and applications, allowing us to be more nimble in our lending practices. We are happy to work with Equifax to offer customers the most sophisticated and advanced technology in the data and analytics market today.”
InterConnect is a versatile, cloud-based SaaS decision management platform that enables businesses to define and execute their decision policies at point of sale with streamlined execution. Businesses gain accelerated time-to-insights using orchestrated access to a vast library of data sources. These assets help businesses develop customized attributes and scorecards for more refined and precise decisions that help achieve business growth goals while minimizing risk.
With Ignite, lenders have the ability to analyze decision outcomes made through InterConnect. Those decisions, combined with loan performance data available in Ignite, have the potential to give lenders more insight than they may be able to achieve with in-house tools or competing market solutions. This combination of decision outcomes and data points are not typically easy to obtain enables lenders to quickly monitor and adjust their decision rules used in InterConnect.
“It is always a pleasure to work with Lendmark, a company excited about propelling its brand and customers into the next dimension of innovative marketing,” said Prasanna Dhoré, Chief Data and Analytics Officer for Equifax. “It is our pleasure to help them extract more value from their database in an effort to re-assess their customers so they can offer them more of the right benefits.”