Financial SoftwareEquifax Accelerates Fintech Innovation With New InnovationX

Unique Testing Ground for New Financial Services Solutions Helps Organizations Quickly Set Themselves Apart in Competitive Market; New USIS SVP of Data & Analytics Peter Maynard to Head Collaborative Program
PRNewswire PRNewswireApril 28, 20216 min

Equifax (NYSE: EFX) has introduced a new InnovationX immersive experience to help fintechs, established financial institutions and other organizations accelerate innovation in today’s competitive market. This unique testing ground for new financial services products enables organizations to validate ideas and understand new markets with ready access to real-time, cloud-native data and advanced analytics that only Equifax can provide. New innovations are developed in close collaboration with Equifax executive leadership and the best-of-the-best in data science. InnovationX will be led by Peter Maynard, Ph.D, the newly appointed Senior Vice President of Data and Analytics for Equifax United States Information Solutions (USIS).

“E-commerce and financial services have converged. Customers expect the same convenience, flexibility and personalized experience from the financial services companies they interact with as they do major e-commerce retailers,” said Sid Singh, Equifax USIS President. “InnovationX was created to help financial institutions of all sizes create experiences that stand apart from the competition. We’re inviting organizations to test and validate their ideas using our unique data and analytics expertise – working hands-on with Peter Maynard and our USIS Data and Analytics team to innovate at the speed of now.”

InnovationX brings fintechs and other companies the insights they need to drive change for their customers and smarter revenue for their businesses. By participating in the InnovationX immersive experience, organizations can:

  • Quickly test and bring new solutions to market with real-time access to data and analytics, and cloud-native, differentiated data assets that only Equifax can provide. Equifax Data Fabric will enable access to the precise data needed to expand an organization’s view of their customers, create new financial opportunities for unbanked or underbanked individuals, and make more informed decisions while managing risk.
  • Leverage patented Equifax Explainable Artificial Intelligence (xAI) and Machine Learning (ML) techniques to analyze massive structured and unstructured data sets rapidly;
  • Choose from a menu of customizable options to create the model configuration with segmentation, data source and modelling techniques that works best for their business; and
  • Drive greater Digital Identity Trust for each identity behind every payment, account creation and login event – blocking fraud in real time and enabling personalized customer experiences.

“Predictive data and advanced analytics are at the heart of fintech innovation and competitive advantage,” commented Maynard. “InnovationX enables us to work side-by-side with customers to help them harness the power of data as they prepare to launch new solutions, remain ahead of changing credit risk patterns, reduce fraud and create better customer experiences in an increasingly competitive environment.”

Maynard has spent seven years in enterprise analytics leadership roles at Equifax. He brings more than two decades of experience to the role of Senior Vice President of Data & Analytics, and joined Equifax from a major financial institution, where he spent more than 10 years leading application risk and response modeling. Under Maynard’s leadership, InnovationX will offer businesses the insights they need to deliver convenience, flexibility and a more personalized experience to their customers.

The Equifax InnovationX immersive experience is open now in Atlanta, with in-person and virtual sessions designed in accordance with COVID-19 social-distancing guidelines. For more information, or to get started, visit Equifax.com.

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