Equifax has integrated Mastercard Open Finance tools into its existing banking solutions platform. Lenders can now access three specific data products to enhance their underwriting processes and credit decision-making.
The new offerings include Cash Flow Analytics, which analyzes up to 24 months of account activity, and Payment Risk Insights, designed to predict repayment stress. Additionally, the Transaction Report provides at least six months of categorized bank data.
These resources aim to assist financial institutions in evaluating consumers who lack traditional credit histories. By incorporating this data, lenders can streamline approval workflows and expand credit access within the United States.
Jacob Osborne, senior vice president at Equifax, stated that the collaboration provides customers with greater flexibility in selecting open finance providers. This integration combines alternative data with existing credit metrics to support more informed lending decisions.
Bart Willaert, executive vice president at Mastercard, noted that the partnership helps financial organizations and fintechs gain a comprehensive view of consumer financial health, facilitating faster and more reliable credit assessments.
