According to the press release issued, Equifax announces that it has extended its more than twenty-year relationship with the National Consumer Telecom and Utilities Exchange (NCTUE), an independent, non-profit organization.
It is a Fair Credit Reporting Act compliant consumer credit reporting agency for the telecommunications, pay TV, Internet, home security and utilities industries.
Under the terms of the agreement, Equifax will continue to exclusively operate and manage the NCTUE database and will provide the organization with ongoing business development support.
Equifax will therefore continue to provide members-only NCTUE products and services, such as Advanced Energy Plus and Advanced Communications Plus, which integrate telecommunications, pay TV, Internet, home security and utility insights beyond traditional credit data and provide NCTUE members a unique 360-degree financial view of consumers that can help maximize consumer approval rates, help identify potential risks, reduce manual intervention costs and improve customer experience, according to the statements.
Brian Newcomb, President of the NCTUE Board of Trustees “NCTUE has maintained a relationship with Equifax for nearly three decades – a partnership that has been in place since the launch of our database. Together, we support more than 160 member companies, helping them to innovate with data and leverage payment history information to better identify and manage members’ financial risk. Our collective efforts ultimately help establish creditworthiness and can enable better credit decisioning, especially for those consumers with limited traditional credit data.”
Todd Horvath, president of Equifax United States Information Solutions “We highly value our 27-year partnership with NCTUE and appreciate their continued trust in Equifax as the stewards of their data exchange. “We are focused on creating innovative, member-only solutions to help solve fraud and deposit challenges, and to ultimately improve consumer experience – helping people live their financial best. Additionally, our continued partnership helps further enable the availability of expanded insights into consumer payment history alongside our traditional credit report. This is a significant benefit to both lenders and consumers seeking credit, particularly those consumers who are underbanked or seeking to establish a credit history.”
