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 improve credit visibility for consumers with limited or no credit history [2][3] - Utilizing alternative data may lead to better credit scores for consumers who responsibly repay payday loans, resulting in improved loan terms and interest rates from lenders [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 across 24 countries in North America, Central and South America, Europe, and the Asia Pacific region [4]