Equifax Inc. (NYSE: EFX) is the leading credit report provider in the U.S. and is considered one of the "Big 3" in the credit reporting market. It generated $1.54 billion in revenue (2006) and operates in 14 countries across three continents. Equifax also provides credit scoring, marketing consulting and other credit related services. Equifax also recently acquired TALX, the leading employment verification company in the U.S.
Since the US credit reporting market is now considered mature, Equifax has had to expand its database services to include other services such as marketing and credit scoring, in addition to developing its international divisions. Efforts toward the latter have been quite successful to date with Equifax non-domestic operations growing at double digit rates over the last few years. Among the adverse factors affecting Equifax are the potential for more stringent government privacy policies and the stagnancy of the US housing market in the wake of higher interest rates and subprime lending troubles.
Equifax operates in three segments broken down by region and are further brown down by three divisions of service.
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Equifax's main clientele consists of banks and credit card companies, but its customers have become more diverse largely due to the rise of identity theft, fraud and more thorough background checks. For example, small businesses, insurance providers, a number of government groups and retailers use Equifax's services to conduct background checks on potential employees, check payment histories and validate the credit of a business. Equifax also caters to individual clients who wish to have access to their credit reports or scores. In recent years, individual clients have been generating more business for EFX.
Equifax is one of the largest players in a mature credit market. As a result, the growth prospects of its credit reporting business is somewhat limited. Faced with increasing pricing pressure the company is focusing on offering more complimentary services.
|Market||Total % of EFX Rev||Total Revenue (2006)||% Growth ('05-'06)|
|Latin/South America||10%||154 M||21.5%|
Did Equifax actually say your cderit report was frozen? Of did you assume that's what the message meant? If Equifax requested that you mail your request and include copies of your social security card, driver's license, and other personal info, there could be a security problem. They want to make sure they only give the report to the actual person.The cderit bureaus are three completely different companies. It is not unusual to have a problem with one and not the others. Usually the complaint with Equifax is problems freezing the cderit.
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