Equifax launches credit risk predictor tool for financial services campaigning

LONDON – Equifax is targeting the consumer financial services sector with the launch of a product that claims to be able to predict people's credit risk based on their postcode profile.

The product, called the Geo Risk Navigator, aims to be able to assess credit risk and enable financial services and credit firms to better target customers, based on data covering almost of all of the UK's 1.67m postcodes.

Dave Webber, Equifax marketing services product manager, said: "The challenge is to focus campaigns on the most responsive segments, and Geo Risk Navigator allows companies to identify these groups in prospect lists, with an almost 100% match rate.

"Geo Risk Navigator can also complement and enhance individual level data, with pre-launch trials showing that it outperforms other postcode level solutions and competes effectively with individual level scoring tools."

The product, which will be updated quarterly, also offers users a risk scoring system for each of the UK's postcodes from one, the highest risk, to 200, the lowest.

In July, Equifax appointed Sandra Lawrence from First Data Corp as its country manager for the UK.

Part of her role is to oversee marketing services, the division responsible for the Geo Risk Navigator.

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