Commercial News

Equifax launches new credit solution for SME market

Rozi Jones -
31st July 2019
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"We understand the challenges small businesses face when it comes to client acquisition, cash-flow and scalability"

Equifax has launched a new solution to help SMEs with credit, cash-flow and scalability decisions.

Equifax Interconnect Flex enables SMEs to adopt a cost effective and consistent approach to credit and identity verification decisions. The solution is designed to save time, reduce human error, help combat fraud and deliver a better customer experience.

InterConnect Flex is securely hosted on the cloud and allows companies to configure a list of over 150 pre-defined rules, incorporating and utilising Equifax consumer and commercial bureau data and predefined Equifax scoring models to make simple and effective credit decisions.

Processes such as pre-filtering, credit risk assessment, anti-money laundering checks, due diligence, fraud detection and identity verification can be streamlined to the benefit of both businesses and their customers. SMEs will be able to replace timely manual processes, allowing them to on-board customers at scale and manage their risk.

Decisions are accessed through a user-friendly portal or delivered via an API. The interface features customisable tools that allow users to organise information, workflow and case management, with role-based access to the data tailored to employees.

Ryan Peacey, SME expert at Equifax, said: “We understand the challenges small businesses face when it comes to client acquisition, cash-flow and scalability, and InterConnect Flex can tackle some of these key pain points.

“It helps ensure a consistent approach to provide end customers with faster response times and a better user experience. With setup ready within one month, Equifax InterConnect Flex can help businesses grow organically by fuelling more accurate, informed and profitable decisions while reducing risk.”

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