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Equifax Introduces myEquifax™ Mobile Application To Help Consumers Better Monitor Their Financial Health

1. Equifax launched the myEquifax mobile app for iOS and Android. 2. The app allows users to manage credit reports and freezes easily. 3. Biometric security enhances user access to financial tools. 4. Further features will be added for personalized finance insights. 5. Investments in The Equifax Cloud improve service reliability and security.

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FAQ

Why Bullish?

The launch of the new app positions EFX as a competitor in the financial tech space, similar to trends that saw growth in companies like Credit Karma upon launch of their tools. Increased user engagement can drive higher subscription revenues.

How important is it?

The introduction of the app is relevant due to its potential to attract more users, improve financial literacy, and enhance EFX's service offerings, which is core to EFX's business model.

Why Short Term?

The immediate adoption of the app can lead to rapid customer growth and increased revenue streams. Historical trends indicate that tech product launches can impact stock positively within a few months.

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New App Makes It Even Easier for Consumers to View and Manage their Credit Accounts, Providing More Control over their Financial Well-Being, /PRNewswire/ -- Equifax® (NYSE: EFX) has introduced a new myEquifax™ mobile application for Android™ and iPhone®, offering consumers a convenient way to monitor their financial health from their mobile devices. In the app, users can directly view their Equifax credit report as well as manage existing credit freezes and fraud alerts. myEquifax™ Mobile Application To access the myEquifax mobile app, consumers can simply download it from the Apple App Store® or on Google Play and then use their myEquifax™ account to login. If a user does not have a myEquifax account, they can register for Equifax Core Credit™, a free resource that will allow the user to access the mobile app. The mobile app enables users who sign up with Equifax Core Credit to view their current VantageScore 3.0 credit score and also includes a "My Journey" section that helps consumers set credit score milestones and track their progress over time. Additional app features include the use of biometrics for secure authentication and access to Equifax Knowledge Center resources where consumers can learn more about how the credit system works. Consumers with a paid subscription will have access to their current features, which may include multi-bureau reports and scores as well as identity restoration services. "Our Purpose is to help people live their financial best, and providing consumers with the resources they need to increase their financial capability is an important part of that commitment," said Aparna Shah, who leads the Direct to Consumer Business at Equifax. "The new myEquifax mobile app, powered by The Equifax Cloud™, is designed to help people better understand their current credit position and empower them in their financial lives."The Equifax Cloud is a top-tier global technology and security infrastructure backed by a more than $1.5 billion multi-year investment. The Equifax Cloud is one of the largest Cloud initiatives ever undertaken in the industry, and enables the development of solutions that are faster, more reliable, more powerful, and more secure than ever before.In the months to come, the myEquifax mobile app will offer additional features such as tailored personal finance feedback and insights in the "My Journey" section to help users better understand their individual credit journey.The myEquifax mobile app is available for download now in the Apple App Store and on Google Play.Android and Google Play are trademarks of Google LLCABOUT EQUIFAX INC.At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.FOR MORE INFORMATION: Alexandra Packey for Equifax[email protected]SOURCE Equifax Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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