Leading consumer, commercial and workforce information
) recently announced the expansion of its risk-based
authentication services within the Identity and Fraud product
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The expansion will help Equifax to deliver effective screening,
verification and authentication tools, which in turn will
mitigate fraud, protect privacy and reduce data loss, thereby
enhancing user acceptance and satisfaction with online channels.
Additionally, Equifax Identity and Fraud Solutions (IFS) will
help to reduce fraud and manage risk in both the private and
public sector, which will provide a secure environment for
customers, thereby helping Equifax to expand its customer base
and market share.
More than 70% of its customers use Equifax fraud, ID verification
or authentication tools to manage online fraud mitigation.
Moreover, as per American Banker, nine out of the top ten banks
turn to Equifax for advanced fraud solutions while booking new
Earlier, in order to further strengthen its position in the
identity protection market, Equifax acquired TrustedID, to join
Equifax's Personal Solutions group. TrustedID deals with identity
protection solutions and protects privacy and reputation on
social media services.
Equifax reported revenues of $586.9 million, up 14.3% year over
year in the second quarter of 2013. The upside is attributable to
top-line growth across the board.
Equifax's focus on product innovation, broadening data assets
through acquisitions and continued share gains in North America
are encouraging. We believe Equifax is well positioned to benefit
from its leadership in important markets and strength in
Given the company's strong correlation with the consumer and
financial markets as well as its U.S. and European exposure, we
see a gradual improvement in results. Competition from
Green Dot CP - A
) is however a concern.
Currently, Equifax has a Zacks Rank #3 (Hold). Investors can
instead consider stocks such as
Official Payment Holdings, Inc.
), which has a Zacks Rank #2 (Buy).