Equiniti Group plc, the FTSE-listed share services and fintech business, is delighted to announce that its risk management business, Equiniti Riskfactor, has been awarded a contract with Eagle Business Credit, the Atlanta-based factoring company which launched in 2013 and provides flexible funding solutions for small businesses.
Equiniti Riskfactor will provide Eagle Business Credit with its proven risk management and analytics software, EQ Riskfactor. The software is built especially for the invoice finance and asset based lending market and uses unique risk algorithms to detect and prevent fraud by identifying suspicious behaviour.
Eagle Business Credit marks the eleventh North American business for Equiniti Riskfactor, following the appointment of Leigh Lones to head up their North American business in July. It continues Equiniti Riskfactor’s ongoing international strategy to take its specialist products outside of the UK which has been a success in 2018 after winning its first ever Canadian client, Baron Finance, and partnering with Efcom to sell into the German market.
Aaron Hughes, Managing Director at Equiniti Riskfactor, commented:
“We are very excited to have been awarded this mandate by Eagle Business Credit. It is great to have another US client on board and we have a strong pipeline for 2019. Our technology has been very well received in the US and it is rewarding to see it making a positive impact on new clients.”
“As well as detecting fraud the software will help Eagle Business Credit to improve the overall efficiency of the business and ensure for the first time that they have access to real time information. This will revolutionise the way the teams manage their clients and help to minimise losses across the portfolio.”
“EQ Riskfactor already enhances the operating systems of many lenders in the industry and can be easily installed to work alongside their existing systems. I am delighted to welcome Eagle Business Credit into the Equiniti family and look forward to working with them in the future.”
Ian Varley, CEO at Eagle Business Credit, commented:
“I used EQ Riskfactor as a risk management tool for over ten years when I was at Bibby Financial Services so I know first-hand the benefits it will bring to our business. The ability to easily pinpoint potential issues before they become a major problem is critical for us to help prevent unnecessary losses.”
“We’ve been growing our portfolio at an impressive rate and this software will also help drive operational efficiencies, allowing us to scale the business and manage overheads as we continue to expand.”