Company Announcements

New Solution Helps to Fast Track Digital Verifications, Reducing Friction for Lenders and Borrowers

ATLANTA , April 14, 2026  /PRNewswire/ -- Equifax^® (NYSE: EFX) today announced the launch of The Work Number^® Record Indicator for auto or personal loans, a new solution that delivers income and employment insights from The Work Number alongside the Equifax consumer credit report at the start of the auto or personal loan application process. This integration can help lenders accelerate the approval process and reduce friction for both the borrower and lender.

The Work Number Record Indicator returns a response indicating whether a verification of income and employment (VOIE) is available for an applicant from The Work Number. This immediate visibility gives lenders the ability to instantly segment their workflows, fast-tracking appropriate borrowers through an automated, paperless path while proactively identifying those who may require manual documentation. By reducing  guesswork from the start of the application process, lenders can offer appropriate loans while borrowers can benefit from a faster approval process.

"By providing The Work Number Record Indicator for auto or personal loans alongside the Equifax Consumer Credit Report, we are bridging two critical viewpoints -- the consumer's current capacity to pay and their historical credit behavior," said Barrett Teague, Vice President of Sales, Auto Lending at Equifax. "This powerful combination provides lenders with the immediate clarity needed to make more informed, data-driven decisions, while delivering the seamless digital-first experience that today's borrowers expect."

Key Benefits for Lenders and Borrowers:

• Enhanced Decision-Making: Delivers a more nuanced view of a borrower's financial health by providing credit insights alongside an indicator of employment and income data availability.
• Operational Efficiency: Allows lenders to segment applications based on digital data availability, reducing manual touches and downstream friction.
• Improved Borrower Experience: Reduces the need for manual document collection for many applicants, supporting quicker "right-sized" loan offers and faster approvals.

The Work Number Record Indicator for auto or personal loans is the latest multi-data solution from Equifax, joining offerings including Equifax Employment Insights, which provides auto dealers a more complete picture of a buyer's financial profile earlier in the car-buying process, at both the pre-qualification and financing stages.

For more information about The Work Number Record Indicator, please visit our website.

ABOUT EQUIFAX INC.

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 nearly 15,000 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 www.equifax.com.

FOR MORE INFORMATION:
Dan Jenkins for Equifax Workforce Solutions
mediainquiries@equifax.com

 

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SOURCE Equifax, Inc.