Empowering Financial Well-Being with Equifax Consumer-Friendly Solutions
EQUIFAX HELPS INDIVIDUALS TAKE CONTROL OF THEIR FINANCIAL WELL-BEING, recently introducing several solutions that are designed to help consumers more easily assess their financial health and empower them to make more informed financial decisions. Whether consumers are simply aiming to better understand their credit or working toward major financial milestones, these solutions focus on putting consumers first in an effort to help them live their financial best.
“Our Purpose is to help people live their financial best, and providing consumers with the resources they need to increase their financial capability is an important part of that commitment,” said Aparna Shah, who leads the Direct-to-Consumer Business at Equifax. “With solutions like Optimal Path, the myEquifax mobile app and the redesigned U.S. consumer credit report, we’re empowering people to better understand their credit and plan for important financial goals.”
Optimal Path™ is an interactive score planner now available to consumers through participating financial institutions, employers and benefits providers. Powered by the Equifax Cloud™ and patented EFX.AI capabilities, this highly personalized, white-labeled solution integrates with each consumer's current Equifax credit profile and delivers AI-powered recommendations to help them achieve their target VantageScore® 3.0 credit score. With features such as personalized goal setting, AI-powered specific tasks, and estimated score impact, Optimal Path provides guidance for consumers on every step of their financial journey, creating deeply personalized plans that suggest the most actionable positive behavior for that particular user. It was designed to turn credit data into clear, actionable guidance with recommendations that are informed not just by the current credit file, but by AI-driven insights from similar consumers who achieved comparable score objectives.
Complementary to that offering is the myEquifax™ mobile app, which offers consumers a convenient, on-the-go way to monitor their financial health. The mobile app enables users who sign up with Equifax Core Credit to view their current VantageScore 3.0 credit score and also includes a “My Journey” section that helps consumers set credit score milestones and track their progress over time. Additional app features include the use of biometrics for secure authentication and access to Equifax Knowledge Center resources where consumers can learn more about how the credit system works. Consumers with a paid subscription will have access to their current features, which may include multi-bureau reports and scores as well as identity restoration services.
Optimal Path and the myEquifax mobile app are powered by the Equifax Cloud, a top-tier global technology and security infrastructure backed by an approximately $3 billion multi-year investment. One of the largest Cloud initiatives ever undertaken in the industry, it enables the rapid development and deployment of solutions that are faster, more reliable, more powerful, and more secure than ever before.
Another recent advancement is the redesigned U.S. consumer credit report, created in direct response to consumer feedback. The newer format replaces lengthy pages of text with color-coded sections and easy-to-read graphics to give consumers a comprehensive look at their current and past credit activity. The redesigned report also includes a “key factors that affected your credit” section to provide more context on the type of credit activity that may be helping and/or hurting a person’s respective credit score. Available to U.S. consumers who request a hard copy of their Equifax credit report, the new design mimics the visual experience that consumers with an Equifax product currently have when viewing their digital credit report via their myEquifax™ account or when using the myEquifax™ mobile app.
From personalized score planning and mobile access to visual redesigns, Equifax will continue to focus on putting consumers first and delivering on its Purpose - to help people live their financial best - into action, empowering consumers to take control of their financial well-being and make more informed financial decisions with a clear understanding of the factors that can affect their credit.
Learn more about Optimal Path and download the myEquifax™ mobile app here.