ATLANTA, Dec. 22, 2014 /PRNewswire/ -- Equifax Inc.
(NYSE: EFX) today announced it has signed a significant multi-year,
multi-million dollar partnership agreement with the UK Government
for debt recovery services to be managed through TDX Group - an
Equifax Company (TDX).
TDX, the United Kingdom's
largest debt placement services and debt management platform
company, was acquired by Equifax in January 2014. TDX will
partner with the UK Government through a new entity, Integrated
Debt Services, Ltd. The business will enable the government
to externally purchase debt recoveries services as a single
customer, and to access the full debt recovery market more
efficiently and effectively.
Integrated Debt Services, Ltd. will launch with six Government
Departments as initial customers who have committed to using its
capabilities as a single gateway to access the increased capacity
and capability of the private sector. On-boarding of initial
customers and rollout will commence at different intervals
beginning in spring 2015. The scope of debt services to
be contracted through Integrated Debt Services, Ltd. will
include:
- Provision of analytics (data cleansing and enrichment services)
where required by departments
- Provision and management of collection activity by debt
collection agencies
- Litigation and enforcement services
"This is a strategic opportunity that is well-aligned with the
strength of our TDX debt management capabilities and is a great
initial step which will be supported by a series of commercial
agreements to be signed in early 2015," said Equifax Chairman and
CEO Rick Smith. "We are pleased with
the UK Government's recognition of the expertise we will bring as a
partner, enabling them to facilitate fair and effective collection
of over £22 billion in outstanding debt to that country's
government."
Founded in 2004, Nottingham-based TDX is the
leading established Recoveries Management company in
the UK. Its model using technology and analytics that drive
collection performance has delivered proven value to clients
in the Private and Public sector, and today's announcement builds
on an existing Public sector contract. TDX Group has established
relationships with and access to more than 55 suppliers who
provide services ranging from debt collection to enforcement
services.
About Equifax
Equifax is a global leader in consumer,
commercial and workforce information solutions that provide
businesses of all sizes and consumers with insight and information
they can trust. Equifax organizes and assimilates data on more than
600 million consumers and 81 million businesses worldwide.
The company's significant investments in differentiated data,
its expertise in advanced analytics to explore and develop new
multi-source data solutions, and its leading-edge proprietary
technology enable it to create and deliver unparalleled customized
insights that enrich both the performance of businesses and the
lives of consumers.
Headquartered in Atlanta,
Equifax operates or has investments in 19 countries and is a member
of Standard & Poor's (S&P) 500® Index. Its common
stock is traded on the New York Stock Exchange (NYSE) under the
symbol EFX. In the past year, Equifax has been named a Bloomberg
BusinessWeek Top 50 company and ranked in the top 25 companies of
the InfoWeek 500 and the FinTech 100. For more information, please
visit www.equifax.com.
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SOURCE Equifax Inc.