Equifax Strengthens Security Suite - Analyst Blog
September 25 2013 - 6:44PM
Zacks
Leading consumer, commercial and workforce information solutions
provider, Equifax Inc. (EFX) recently announced
the expansion of its risk-based authentication services within the
Identity and Fraud product suite.
The expansion will help Equifax to deliver effective screening,
verification and authentication tools, which in turn will mitigate
fraud, protect privacy and reduce data loss, thereby enhancing user
acceptance and satisfaction with online channels.
Additionally, Equifax Identity and Fraud Solutions (IFS) will help
to reduce fraud and manage risk in both the private and public
sector, which will provide a secure environment for customers,
thereby helping Equifax to expand its customer base and market
share.
More than 70% of its customers use Equifax fraud, ID verification
or authentication tools to manage online fraud mitigation.
Moreover, as per American Banker, nine out of the top ten banks
turn to Equifax for advanced fraud solutions while booking new
accounts.
Earlier, in order to further strengthen its position in the
identity protection market, Equifax acquired TrustedID, to join
Equifax’s Personal Solutions group. TrustedID deals with identity
protection solutions and protects privacy and reputation on social
media services.
Equifax reported revenues of $586.9 million, up 14.3% year over
year in the second quarter of 2013. The upside is attributable to
top-line growth across the board.
Equifax’s focus on product innovation, broadening data assets
through acquisitions and continued share gains in North America are
encouraging. We believe Equifax is well positioned to benefit from
its leadership in important markets and strength in international
markets.
Given the company’s strong correlation with the consumer and
financial markets as well as its U.S. and European exposure, we see
a gradual improvement in results. Competition from Fiserv
Inc. (FISV) and Green Dot CP - A (GDOT)
is however a concern.
Currently, Equifax has a Zacks Rank #3 (Hold). Investors can
instead consider stocks such as Official Payment Holdings,
Inc. (OPAY), which has a Zacks Rank #2 (Buy).
EQUIFAX INC (EFX): Free Stock Analysis Report
FISERV INC (FISV): Free Stock Analysis Report
GREEN DOT CP-A (GDOT): Free Stock Analysis Report
OFFICIAL PAYMNT (OPAY): Get Free Report
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