"The Equifax Cloud™ is helping our partners and customers address the evolving fraud landscape and deliver innovative solutions to today's market challenges faster than ever before," said
Equifax Digital Identity as a Service combines data and analytics with modern cryptography to provide a higher degree of trust without sacrificing user experience. Adding Digital Identity as a Service to Bonifii's MemberPass® will help enable credit unions to more confidently onboard members.
"There's a common misconception that financial institutions must choose between mitigating fraud risk and acquiring new customers," said
Digital Identity as a Service gives consumers greater control over what information is shared, enhances protections against synthetic identity fraud and third-party account takeover, and strengthens user profiles with differentiated data only Equifax can provide.
Credit unions interact with members across a number of channels, including websites and mobile applications, call centers, ATMs and branch drive-through lanes. MemberPass gives credit unions control over identity authentication while protecting personal data. It assigns members a digital credential that serves as verification for contact center interactions, loan applications and financial transactions. Bonifii's technology helps enable trusted peer-to-peer digital interactions among financial institutions, and helps them meet complex data demands while minimizing friction and supporting growth.
"When credit union members authenticate with a MemberPass ID, we want to be certain they are who they say they are," said Bonifii CEO
Equifax Digital Identity as a Service gives credit union members more control over their information and will help to facilitate faster and easier user experiences for previously onboarded users. Functionality from Equifax's suite of identity protection products including
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 12,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com
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