Equifax, the consumer and business insights expert, continues to expand its presence in alternative lending with InvestDen becoming the latest crowdfunding platform to utilise Equifax Identity Verifier.
Equifax Identity Verifier will form an integral part of the platform, providing ‘shared secret’ questions to applicants looking to provide investment in new businesses. This will allow businesses to verify potential investors are genuine, helping prevent fraud and money laundering. The integrated solution will provide a frictionless authentication process by removing the manual steps traditionally involved in identity verification.
InvestDen is an equity and debt crowdfunding platform launched in June 2015 which connects investors and businesses online, enabling entrepreneurs to take control of their funding needs, and investors to access new investment opportunities.
Craig Tebbutt, Head of Alternative Lending, Equifax, says: “Equifax Identity Verifier helps peer-to-peer and crowd funding platforms confirm the validity and identity of investors while improving the user experience. It’s an exciting time for the alternative lending sector and we’re committed to supporting new entrants like InvestDen as they grow their foothold. Working with Equifax will encourage entrepreneurs to the InvestDen platform to raise funds, as they can be assured that investors are genuine.”
Matt Novak, CEO of InvestDen says: “We were looking for a reliable and well known credit referencing agency to increase the number of investors using our platform and help on-board them faster, while also safeguarding against fraud. The Equifax service will enable us to increase our investor approval rates and materially improve our customer journey. We value the support from a strong brand like Equifax, along with their expertise within the alternative lending sector. Having Equifax on board will allow us to achieve our aim of uniting more businesses with investment opportunities.”