The acquisition of CDC is a strategic fit that is well timed for Equifax, said Bill Catucci, executive vice president and group executive, Equifax North American Information Services. This acquisition enables us to further extend our product reach and penetration into one of our higher growth industry segments — on-line brokerage.
The CDC acquisition enables Equifax to combine three individual brokerage products into one overall solution, he said. The first new brokerage service released as a result of this new initiative is AppVantageSM, a turnkey solution for opening new accounts on the Internet, a high-growth area of financial services.
AppVantage harnesses a number of Equifax products and services into a strategic combination that provides a total solution. AppVantage is component-driven and incorporates multiple solutions that help detect fraudulent activity and reduce risk through superior decisioning capabilities and cross-sell functionality. It funds accounts immediately via ACH or paper draft. This represents a first-of-a-kind total solution and the CDC acquisition makes it complete, Catucci concluded.
In August, Equifax announced a partnership with CDC. CDC, located in Zephyr Cove, Nev., and New York, has been the industry leader in providing reports of non-compliance since 1962 and serves about 65% of the brokerage community with more than 150 subscribers.
