NewsEquifax’s Agreement with NCTUE for Contractor Services Gets a 5-Year Extension

The National Consumer Telecom and Utilities Exchange, Inc. (NCTUE) has extended the agreement for Equifax’s contractor services for another five years, as per an official announcement by the information solutions provider. NCTUE is a group of more than 70 companies from the telecommunications, utilities and Pay TV businesses. It offers insights to members on the credit risk posed by their existing as well as potential customers to help the companies make smart business choices.

The association’s decision to extend its contract with Equifax will see the latter continuing to operate the NCTUE database until August 2020. Currently collating information on over 600 million consumers with regards to 81 million businesses across the globe, Equifax’s scope of services for NCTUE will include member and non-member products. They will comprise of Alternative Data Risk Score (ADRS), Exchange Risk Score, (XRS) and solutions for fraud management.

The solutions provided by the company will help evaluate risk using alternative scoring techniques to assist a large volume of consumers with sound financials but little or no banking transactions in accessing credit services. A major player in the information solutions industry, the Atlanta-based company offers customized customer insights for businesses based on advanced analytics, in-house technology and differentiated data investments.

Bill Brito, VP of Communications and Utilities Exchange Leader, USIS Programs & Exchanges, Equifax said, “We look forward to seeing how our partnership will evolve over the next five years as alternative data scoring continues to become mainstream in determining credit risks.”