Risk Solutions

Establishing real, demonstrable trust in a person’s identity is essential for Australia’s 26.7 million people to transact online safely and effortlessly, levelling the playing field for credit access and fuelling our digital economy.

With Equifax’s robust credit rating methodology and processes, and the qualifications and expertise of its analyst team, we are able to identify early warning signals of company failures and their potential impacts. 

We spoke with Tehani Legeay, General Manager of Identity and Fraud at Equifax, to determine what businesses need to know about fraud detection and prevention.

Is your company holding onto personal data long after customers have gone inactive? Do you collect unnecessary details like date of birth when a name would suffice? And how confident are you that your stored data won’t end up in the wrong hands?

A person you trust initiates a video conference and requests access to a confidential document. Nothing in their appearance or demeanour seems untoward, and their follow-up email uses the same communication style you’ve come to expect. So, naturally, you share the file with them.

While insurers are increasingly using data to gain competitive advantage, the potential of credit data remains largely untapped within Australia’s commercial insurance sector. To explore its possible value across the policy lifecycle, Equifax partnered with a leading commercial insurer to augment their internal customer data with Equifax credit data. 

Exploratory sandbox experiments unearthed compelling evidence showcasing the substantial gains of leveraging credit data, specifically across areas such as: Validation, Risk modelling and Marketing strategy.

In a tale of two markets, Australia finds itself contending with starkly opposing realities in its real estate landscape. While the residential sector grapples with a severe shortage, commercial properties, particularly office spaces, are experiencing very high vacancies.

Approving a credit application without checking a customer’s credit report and credit score is like building a puzzle with missing pieces. You may have some parts of the financial picture, but the overall view will be incomplete and maybe inaccurate. Credit reports and scores help credit providers make informed decisions that benefit the entire lending ecosystem. Here’s how...
 

Data analytics to retailers is like a microscope to a scientist – revealing details and patterns in consumer behaviour that otherwise remain unseen. For online retailers, data analytics can mean the difference between guesswork and precise knowledge about what works. Between maintaining the status quo and adapting to dynamic market changes. Between losing revenue to fraudsters and safeguarding profits.