Equifax Partners with Bridgeforce Data Solutions

EQUIFAX INC. | March 08, 2022

Equifax® and Bridgeforce Data Solutions, a fintech firm, today announced a new partnership that strengthens their commitment to the data furnisher community by offering additional tools and support mechanisms to enable efficient data accuracy. Equifax can now make Bridgeforce's industry-leading Data Quality Scanner® (DQS) and comprehensive consulting assistance provided to data furnishers as part of the agreement, providing a seamless, integrated solution for optimum customer reporting compliance and dispute management to data furnishers.

Equifax has one of the industry's leading credit databases. Equifax depends on credit grantors to completely submit client data monthly in order to keep information current and maintain file quality. These data providers who report to Equifax are critical in recognizing credit risk and preventing financial losses in the credit-granting sector. For this group, which includes banks, credit unions, and lenders, among other financial institutions, more data integrity equals better credit-related choices and lower regulatory risk.

"Bridgeforce and Equifax share an ongoing commitment to data quality and accuracy, which drove our decision to partner together in support of today's data furnisher community. Bridgeforce strives to help furnishers improve data quality through a combination of automated technology and consulting support. Tapping into these offerings through our partnership with Equifax, furnishers can now comprehensively assess and address compliance and operational needs to mitigate risk, reduce costs and improve their overall customer experience."

Matt Scarborough, CEO of Bridgeforce Data Solutions

Equifax may now refer data providers in need of assistance to Bridgeforce's Data Quality Scanner® and complete consulting services as part of the new collaboration. Bridgeforce would provide software and advice to evaluate data from furnishers, among other things, to discover quality concerns and plan for regulator audits. A Bridgeforce Data Solutions case study shows that a leading U.S. bank witnessed a 70% drop in data inconsistencies during the first year of adopting DQS and a 30% decrease in its average quarterly dispute rate over a two-year period after installation.

Robert Eison, Chief Operating Officer for Equifax United States Information Solutions (USIS) said "Data furnishers play a critical role in today's credit ecosystem. As a trusted steward of consumer data, Equifax is committed to investing in practices and partnerships that help us better support customers in ensuring accurate data reporting. Joining forces with Bridgeforce supports this commitment by helping furnishers referred from Equifax enhance the quality of their data, resulting in improved accuracy, lower dispute rates and reduced compliance risk."

Spotlight

How to Use Analytics in UX

Integrating analytics into UX work helps to make data-based decisions and focus efforts on projects with the most significant impact.

More featured news

Spotlight

How to Use Analytics in UX

Integrating analytics into UX work helps to make data-based decisions and focus efforts on projects with the most significant impact.

Related News

Big Data Management

Netenrich Shift into Data Analytics-Driven Autonomic Security Operations at Google Cloud Next '23

prnewswire | August 29, 2023

Netenrich, featuring Resolution Intelligence Cloud™, a secure analytics operations company, today announced its participation at Google Cloud Next '23, on August 29 - 31, 2023, at booth #1631, Moscone Center in San Francisco, California. The company invites security and IT professionals to see how our Resolution Intelligence Cloud advances a modern SecOps approach to manage security aligned to business risk. For enterprises and digital native businesses (including ISVs) looking to transform their operations, Resolution Intelligence Cloud is a clear choice. Unlike legacy SOC architectures and security tools that fail to scale and handle massive data, the Netenrich platform disrupts current architectures with a built-from-the-ground-up platform centered around data analytics, automation, and engineering-led operations. Security operations is a big data problem. The growing volume and complexity of data flowing in and out of organizations have created new challenges in managing digital risk. Existing SIEM solutions cannot scale with the velocity of data growth, without taxing security budgets and draining existing resources. Harnessing the power of data analytics provided by Google Cloud, Resolution Intelligence Cloud takes a quantitative lifecycle approach to assessing, identifying, and managing digital risk to reduce the toil of security operations. The platform focuses on key areas, including Analytics-driven decision making to allow organizations to assess critical events, rapidly identify the best personnel to take action, keep customers and stakeholders informed, and drive continuous improvement through rich postmortem analytics. Situation analysis using quantitative risk scoring and contextual evidence to proactively assess threat likelihood and impact severity. By targeting and providing the right on-call personnel with a full view into a situation, teams can rapidly remediate and resolve issues--when applicable, through automation--while notifying stakeholders in the process. Cross-functional communication and collaboration, so teams and key stakeholders can better coordinate actions for situation analysis with actionable insight. Granular capture and analysis of event timelines to drive better prioritization and categorization to ensure that an organization remains focused on delivering the best customer experience and executing on the most important tasks. With Resolution Intelligence Cloud, Netenrich helps organizations become operationally mature as they shift to Autonomic Security Operations (ASO). The approach is a combination of philosophies, practices, and tools that improve an organization's ability to withstand security attacks through an adaptive, agile, and highly automated approach to threat management. The shift optimizes overall operations while maximizing security efficacy. Processes, workflows, and systems are improved. Human toil is reduced. The right people with the right expertise (high-level analysts and engineers) gain the time and insight to focus on high-value work. It's about building operational scale to align security to business risk, and meeting the needs of the growing business. For all ISVs, DevOps, and software developers who are building their applications stack on Google Cloud, come talk to us as we help transform and scale your operations. Visit Netenrich at Google Cloud Next '23. About Netenrich Netenrich makes data the solution, not the problem. With Resolution Intelligence Cloud™, our secure analytics operations platform, we turn complex big data into actionable intelligence so enterprises can manage security to business risk. The platform leverages a cybersecurity mesh architecture to converge security and digital operations. Its data engineering, multitenant, and automation capabilities optimizes current security systems to achieve petabyte scale and speed. More than 3,000 global customers rely on Netenrich to increase operations effectiveness, improve ROI, and ensure cybersecurity and business resilience.

Business Intelligence

Oracle's New Next-generation Platform Transforms Business Insights

Oracle | September 25, 2023

Oracle introduces a data, analytics, and AI platform for Fusion Cloud Applications to enhance business outcomes. The platform offers 360-degree Data Models, Prescriptive AI/ML Models, Rich Interactive Analytics, and Intelligent Applications. Oracle plans to extend the platform to NetSuite and other industry applications, enriching analytics offerings. Oracle has recently unveiled the Fusion Data Intelligence Platform, a cutting-edge data, analytics, and AI solution designed to empower Oracle Fusion Cloud Applications users to enhance their business outcomes through the fusion of data-driven insights and intelligent decision-making. This groundbreaking platform, which builds upon the foundations of the Oracle Fusion Analytics Warehouse product, offers business data-as-a-service with automated data pipelines, comprehensive 360-degree data models for critical business entities, interactive analytics, AI/ML models, and intelligent applications. These ready-to-use capabilities run on top of the Oracle Cloud Infrastructure (OCI) Data Lakehouse services, including Oracle Autonomous Database and Oracle Analytics Cloud, thereby facilitating complete extensibility across data, analytics, AI/ML, and application layers. The Oracle Fusion Data Intelligence Platform presents the following suite of pre-built capabilities that are designed to empower Oracle Fusion Cloud Applications users to unlock the full potential of their data: 360-Degree Data Models: This will equip business users with a cohesive and comprehensible representation of their organizational data, allowing them to discern the intricate relationships between data and business processes. By providing a range of conformed data models based on Oracle Fusion Cloud Applications data and other data sources, this platform offers a 360-degree view of various facets of a business, including customers, accounts, products, suppliers, and employees. Prescriptive AI/ML Models: Leveraging pre-configured AI/ML models, such as workforce skills assessment and customer payment forecasting, organizations can solve specific business problems by automating labor-intensive tasks, freeing up resources for strategic endeavors. Furthermore, it empowers organizations to rapidly analyze substantial datasets, uncovering invaluable insights and patterns that can drive business growth and efficiency. Rich Interactive Analytics: Business users can seamlessly explore and visualize their data using pre-built dashboards, reports, and key performance indicators (KPIs). Additionally, Analytics Cloud features like natural language query, auto insights, and mobile applications allow quick access to data and insights. Intelligent Applications: These applications go beyond providing insights offering intelligent recommendations based on pre-existing data models, AI/ML models, and analytics content. They enable organizations to make informed decisions swiftly, ultimately improving business outcomes. The Fusion Data Intelligence Platform is a pivotal step in a long-term vision to transition from data and analytics to actionable decisions that drive business success. Importantly, this platform will extend its reach beyond Oracle Fusion Cloud Applications, with plans to offer the same foundational platform for NetSuite and across various Oracle industry applications, such as healthcare, financial services, and utilities, to facilitate cross-domain insights. The Fusion Data Intelligence Platform includes an extensive portfolio of ready-to-use analytics for Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Human Capital Management (HCM), Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), and Oracle Fusion Cloud Customer Experience (CX). These analytics offerings have been further enriched with the following additions: Oracle Fusion ERP Analytics: The introduction of Accounting Hub analytics empowers finance teams to create a system of insights for accounting data sourced from Oracle Accounting Hub sub-ledger applications. Oracle Fusion SCM Analytics: New Manufacturing analytics provide manufacturers with timely insights into work order performance, enhancing shop floor efficiency by rapidly identifying anomalies and continually optimizing plan-to-produce processes by connecting insights across supply chain data. Oracle Fusion HCM Analytics: The addition of Inferred Skills, Payroll Costing, and Continuous Listening analytics equips organizational leaders with integrated workforce insights, covering employee skills, payroll trends and anomalies, and the efficacy of a continuous listening strategy at any given point in time. Oracle Fusion CX Analytics: The new Quote-to-Cash analytics extend the analysis beyond the lead-to-opportunity pipeline by offering insights into how the price, contract, and quote process influences the overall customer experience.

Data Visualization, Data Science

Alteryx Fuels Finance Transformation with Decision Intelligence and Intelligent Automation Leveraging the Power of AWS

PR Newswire | July 11, 2023

Alteryx, Inc., the Analytics Cloud Platform company, today announced decision intelligence and intelligent automation capabilities on Amazon Web Services (AWS) designed to empower chief financial officers (CFOs) and finance leaders to embrace cloud and data analytics as strategic tools for their modernization goals. "Analytic insights help us tailor digital transformation solutions based on our clients' needs to achieve the greatest impact for their business," said Ana Margarita Albir, president at ADL Labs. "Leveraging Alteryx and AWS, we are able to integrate capabilities across any data source, visualize and analyze data in real time, and enhance security, resulting in an estimated $6 million in cost and efficiency savings for both ADL and our clients." Changing regulations and manual processes in the office of finance often mean repetitive work, time consuming data input, and hours of labor spent in preparing spreadsheets. The Alteryx intelligent automation capabilities available on AWS maximize the benefits of cloud for office of finance teams by modernizing processes that help them solve more complex data problems and adapt to constantly changing market environments. Highlights: Impact the bottom line: Analytics automation significantly reduces the time and effort spent with manual processes, freeing up time for analysts on strategic projects moving the business forward. For instance, analysts on billing teams have used Alteryx to reduce the cost of overhead of manual bill reporting up to 25 percent.1 An accounting team reconciling financial data reduced time spent on reconciliation processes up to 99 percent.2 Modernize with new technologies: Alteryx leverages the power of AWS to provide an environment where technologies like artificial intelligence, machine learning, data science, robotic process automation, and blockchain meet, making it easier for CFOs to quickly deploy and use new technology right away. For example, a finance team relying on labor-intensive, outdated tools for calculating sales tax liability can quickly adopt automation and configure alerts on incorrectly taxed transactions, freeing up tax resources for higher-value activities. Gain data-driven insights at scale: Finance departments are expected to deliver regular insights to management for decision-making. Alteryx provides an automated process for connecting and combining different data sources, helping finance teams quickly process and transform large amounts of data so they can generate reports in a fraction of the time. Digitally upskill across finance: Alteryx provides a self-service, low-code/no-code environment so that an analyst or business user can quickly upskill in data and analytics while leveraging the power and scalability of AWS. "Businesses globally are looking to automate for efficiencies and drive deeper insights to quickly respond to multifaceted challenges and dynamically changing landscape," said Nitin Brahmankar, vice president, ISV and Global Ecosystem Partnerships, Alteryx. "We are working with AWS to empower finance teams to leverage the power of the cloud and modernize financial processes to perform critical analysis that truly matters to their bottom line." "With Alteryx Analytics Automation powered by AWS, finance teams can innovate and modernize tax and audit processes with automated self-service analytics that streamline and accelerate traditional compliance work," said Madhu Raman, worldwide head of automation at AWS. "Organizations can benefit from templates that help data analysts and line-of-business users to use, customize, extend, and integrate enterprise data with intelligent automation workflows that assist with record to report, procure to pay, and order to cash processes." About Alteryx Alteryx powers analytics for all with the award-winning Alteryx Analytics Cloud Platform. With Alteryx, enterprises can make intelligent decisions across their organizations with automated, AI-driven insights. More than 8,300 customers globally rely on Alteryx to democratize analytics across use cases and deliver high-impact business outcomes. To learn more, visit www.alteryx.com.