Equifax is sharing in hopes of cultivating technological innovation.
The global data, analytics and technology company recently announced a joint collaboration with FinTech Sandbox to help drive global fintech innovation. Equifax highlighted that startups can now leverage various forms of consumer and commercial data from the company in an effort to help these new businesses develop products for the benefit of the industry and consumers.
Nonprofit FinTech Sandbox promotes innovation in the financial sector by making data and infrastructure available to well-qualified fintech startups. In return, Sandbox startups collaborate with current and past residents by sharing learnings and advancements with respect to the fintech ecosystem.
Participating startups pay no fees, and no equity is taken, according to a news release from Equifax.
In addition to data, Equifax said it will give analytical support to the Sandbox by allowing access to its Ignite portfolio of data and advanced analytics solutions. The portfolio can securely and comprehensively support the full analytical lifecycle — from data access and transparency to visualization and deployment — using a single, connected suite of advanced analytics processes, technology and tools.
“The fintech industry is moving fast, and I’m so proud that we have an opportunity to collaborate around our shared mission for advancing the industry. We look forward to helping influence the Sandbox’s next generation of leaders with our data and analytical tools,” said Sharla Godbehere, atlfi and fintech leader at Equifax.
“We’re also offering our expertise in this space,” Godbehere continued. “Being a fintech company, we understand the challenges of bringing all the pieces together to make a product work. This is an exciting opportunity to partner and share our personal insights and experience with these startups.”
Equifax has earned a spot on the IDC FinTech Rankings list consecutively for the past 15 years since it has been produced. It is one of the most comprehensive vendor ranking within the financial services industry.
“At FinTech Sandbox, we have been looking to expand our offerings and support to startups focused on consumer financial wellness,” FinTech Sandbox executive director Jean Donnelly said.
“Equifax, with records for more than 850 million consumers and 92 million businesses worldwide, and advanced analytic solutions, can provide a needed lift for these companies bringing essential solutions to market,” Donnelly went on to say.