27 April 2018
visit www.nextgenbanking.co.uk

Equifax launches credit information service in India

03 September 2010  |  3079 views  |  0 Source: Equifax

Equifax Inc. (NYSE:EFX), a global leader in information solutions, announced today it has begun providing its unique, in-depth credit information solutions across India, using member-contributed data from the country's largest banks and financial institutions.

Equifax Credit Information Services Private Limited (ECIS) brings Equifax's global experience to the growing Indian economy through its joint venture with six leading Indian financial institutions - Bank of Baroda, Bank of India, Kotak Mahindra Prime Limited, Religare Finvest Limited, Sundaram Finance Limited and Union Bank of India.

Equifax applied to the Reserve Bank of India (RBI) for a Certificate of Registration to establish the new credit information company under The Credit Information Companies (Regulation) Act and was approved for a license in March of this year.

"The emergence of India as a major influence in global commerce, and India's own internal growth, require world-class customer insights and risk-management systems," said Richard F. Smith, Equifax Chairman and CEO. "Our joint venture combines Equifax technology and international experience with a very large and growing database, managed and delivered entirely within India, to give our customers unmatched data and insights, in the most efficient and effective manner."

"Our in-country staffing, local hosting, volume and depth of files we already have, allows us to understand the Indian business community and its needs better than any other service provider," added ECIS Managing Director & CEO Samir Bhatia. "This, combined with Equifax's global experience, and the deep knowledge and expertise of our partners, gives us -- and our customers -- significant advantages.

"Lenders have told us they want new ways to be able to manage their portfolios," Bhatia said. "We will be providing a comprehensive suite of credit risk, customer retention/cross-sell and collection products based on the highest calibre data in the industry."

ECIS has implemented the most stringent standards in the industry for the verification of the information within its database, ensuring its high quality. ECIS is one of only a select few companies granted a license to operate a credit information company in India.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://response.ncr.comvisit www.ebaday.com

Top topics

Most viewed Most shared
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
9903 views comments | 20 tweets | 21 linkedin
TransferWise launches multi-country bank accountTransferWise launches multi-country bank a...
9204 views comments | 26 tweets | 22 linkedin
JPMorgan to roll out Voice ID; begins branch expansionJPMorgan to roll out Voice ID; begins bran...
9091 views comments | 6 tweets | 8 linkedin
Physical cash retains its popularity in face of electronic onslaughtPhysical cash retains its popularity in fa...
8749 views comments | 15 tweets | 17 linkedin
TSB customers rage as migration to Sabadell platform goes awryTSB customers rage as migration to Sabadel...
8716 views comments | 6 tweets | 6 linkedin

Featured job

Find your next job