Equifax Canada Exploring How Payday Loan Data Could Help Drive Financial Inclusion

Core Insights - Equifax Canada is dedicated to enhancing financial inclusion and access to fair credit opportunities for Canadians by exploring non-traditional data sources for credit scoring [1][2] - The company is analyzing the potential impact of including payday loan data in credit histories, which could benefit consumers with limited credit histories or those previously unbanked [2][3] - Utilizing alternative data may lead to improved credit scores for consumers who demonstrate responsible repayment of payday loans, resulting in better loan terms and interest rates [3] Company Overview - Equifax operates as a global data, analytics, and technology company, playing a crucial role in the global economy by assisting various entities in making informed decisions [4] - The company is headquartered in Atlanta and employs nearly 15,000 individuals, with operations or investments in 24 countries across multiple regions [4]