Delivering Credit Education to Consumers Where They Bank

January 08, 2024

Empowering consumers with tools to help them understand their current credit position is an important way to help consumers prepare for future financial milestones. As part of our continued efforts to help people live their financial best, Equifax is partnering with Array - a leading financial innovation platform - to deliver credit education and financial wellness solutions directly within financial institutions’ digital banking platforms. 

The deep expertise and differentiated data offerings Equifax brings to the financial services industry, coupled with Array’s innovative technology and integrations with digital banking platform providers, result in a credit education solution that helps consumers gain greater understanding of their financial wellness. This solution is easily implemented and managed by financial institutions, creating greater opportunities to engage consumers online through the banking applications they use on a daily basis. 

“Consumers are taking ownership of their financial futures in increasingly active ways, and our commitment is and has been to provide them with innovative, financially-inclusive opportunities to help them do so,” said Melinda McBride, Global Alliances and Partners Group Leader at Equifax U.S. Information Solutions (USIS). “Through our partnership with Array, we are meeting our customers where they’re already doing business, offering them a seamless way to help consumers monitor their credit, better protect themselves from identity theft, and understand where they’re spending their money within the tools they’re already using.” 

The offerings that are available through the partnership with Array include credit reports and scores, credit report monitoring and coming in early 2024, Credit Score Coach, a virtual credit assistance solution.

“With Array’s embeddable suite of consumer-facing products, banks, credit unions, fintechs and digital brands can accelerate their feature roadmap,” said Martin Toha, CEO and Founder of Array. “Through our expanding partnership with Equifax, we’ve seen the relationships between our clients and their end-users grow even stronger.”

According to the Financial Health Network, consumers who think their financial institution supports financial health are five times more likely to report interest in purchasing additional products and services. 

Learn more about the consumer credit education solutions that Equifax and Array offer here.