Equifax now offers lenders verified employment and income data along with credit reports.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.This new offering, Income Confirm, integrates data from the company’s The Wor ...

Core Insights - Equifax has completed the acquisition of Vault Verify, enhancing its HR services and verification capabilities [1][2] - The acquisition aims to streamline decision-making for verifiers and expand options for Equifax's employer clients [1][2] - Vault Verify's services will complement The Work Number database, aiding consumers in various financial applications [1][2] Company Overview - Equifax's CEO, Mark Begor, emphasized the company's mission to help individuals achieve their "financial best" through this acquisition [2] - Vault Verify, established in 2012, specializes in real-time employment and income verification services, particularly in the healthcare sector [2] - The integration of Vault Verify into Equifax's operations is facilitated by the Equifax Cloud transformation [2] Service Enhancement - The combined capabilities of Vault Verify and Equifax are expected to provide an enhanced set of knowledge for efficient verifications [2] - Consumers will benefit from quicker decision-making processes when applying for jobs, mortgages, and social services [2] - Vault Verify is now part of the Equifax Workforce Solutions business unit, with its team integrated into this unit [2] Product Development - Equifax has announced the integration of Optimal Path, an interactive score planner, into the Kikoff platform [3] - This integration will allow Kikoff members to receive personalized credit score plans based on their Equifax credit profiles [3] - The plans will include actionable tasks to help members achieve their target VantageScore 3.0 score [3]

Summary of Equifax Conference Call Industry and Company Overview - **Company**: Equifax - **Industry**: Information Services, specifically focusing on workforce solutions and data verification services Key Points and Arguments Government Segment and EWS - The government vertical within Equifax's workforce solutions is the largest business segment, generating over **$2.5 billion** in revenue this year and has attractive **50% EBITDA margins** [2][4] - The total addressable market (TAM) for income and employment verification related to social services is estimated at **$5 billion**, with current revenue at approximately **$800 million** [4][14] - The government vertical has experienced a **20% CAGR** over the last five years, although growth paused recently due to changes in CMS data costs [4][5] - Less than half of U.S. agencies currently utilize Equifax's data, indicating significant growth potential [5][14] - The focus on reducing **$160 billion** in improper payments in social services is expected to drive demand for Equifax's solutions [6][8] - New requirements from the OB-3 Bill are anticipated to enhance engagement from states in utilizing Equifax's data for social service delivery [6][12] Talent Solutions and Background Screening - Equifax's talent solutions vertical is also a fast-growing segment, with a TAM of **$4 billion** and current revenue around **$400 million** [20][19] - The company aims to convert more background screeners from manual verifications to its instant digital solutions [20][18] - Equifax has a unique data set that includes historical employment records, incarceration data, and healthcare credentialing data, which enhances its verification capabilities [19][20] Record Growth and Data Utilization - Equifax has seen a **10% growth** in its record base this year, with a focus on expanding both current and historical records [24][26] - The company has access to data from approximately **6.5 million** companies, which contributes to its extensive database [26][25] - The integration of various data sources allows Equifax to monetize new records immediately through existing commercial relationships [26][27] Mortgage Market Insights - The mortgage market has been down significantly, with Equifax's revenue impacted by over **$1 billion** due to declining market conditions [36][38] - The company anticipates a recovery in the mortgage market, estimating over **$1.2 billion** in incremental revenue as conditions stabilize [38][39] - The introduction of VantageScore as a competitive alternative to FICO is expected to drive cost savings and market share gains [40][42] AI Strategy and Future Outlook - Equifax is investing in explainable AI, with over **300 patents** in this area, to enhance the performance of its products [53][54] - The use of AI is expected to improve product performance and operational efficiency, leading to higher ROI solutions for customers [54][55] Other Important Insights - The OB-3 Bill introduces stricter requirements for data validation in social services, which could lead to increased demand for Equifax's solutions [9][12] - The company is focused on maintaining a competitive edge by differentiating its credit file with additional income and employment indicators [44][45] - Equifax's capital return program includes significant share repurchases, which are expected to impact interest expenses in the coming years [48][49] This summary encapsulates the key insights from the Equifax conference call, highlighting the company's strategic focus areas, growth opportunities, and market dynamics.

Core Insights - Equifax has completed the acquisition of Vault Verify, enhancing its employment and income verification services to help employers and verifiers make informed decisions more efficiently [1][2][3] Company Overview - Equifax is a global data, analytics, and technology company that plays a crucial role in the economy by assisting financial institutions, companies, employers, and government agencies in making confident decisions [5] - The company is headquartered in Atlanta and employs nearly 15,000 people worldwide, operating in 24 countries across various regions [5] Acquisition Details - Vault Verify, founded in 2012, specializes in real-time, API-based employment and income verification services, primarily serving the healthcare sector [2][3] - The acquisition is expected to streamline verification processes for consumers applying for jobs, mortgages, and social services [2][3] Strategic Impact - The integration of Vault Verify into Equifax's operations is facilitated by the Equifax Cloud transformation, allowing for rapid deployment of enhanced verification capabilities [2] - The acquisition is positioned to improve the overall efficiency of Equifax's verification services, benefiting both employers and consumers [3]

Financial Performance & Growth Strategy - Equifax aims for 7-10% organic revenue growth and 1-2% revenue growth from bolt-on M&A, targeting 8-12% total revenue growth[16] - The company targets 50 BPs margin expansion per year[16] - Equifax plans to invest approximately $1 billion per year in growth CapEx and bolt-on M&A[16] - The company intends to return over $1 billion per year to shareholders through dividend growth and buybacks[16] - Equifax projects strong 2025 financial performance, including approximately $900 million in free cash flow and 95% cash conversion[318] - The company anticipates adjusted EPS of $7.45 in 2025[317] Strategic Initiatives & Market Opportunities - Equifax has invested $3 billion in EFX Cloud over the past 7 years[30, 31] - The company is targeting a vitality index of 10%, indicating innovation acceleration post-cloud[39] - Equifax sees a $1.2 billion revenue upside from mortgage market recovery[58, 59] Workforce Solutions - Workforce Solutions is driving 13-15% long-term growth[159, 237] - The company is targeting a $15 billion total addressable market (TAM) primarily replacing manual verifications[170, 163]