By ET Bureau - March 26, 2021 3 Mins Read
Equifax® (NYSE: EFX) announced today that it has closed the acquisition of i2verify, an income and employment verification provider. With this acquisition, Equifax expands its suite of automated verification capabilities and brings incremental efficiencies to both consumers and credentialed verifiers.
Known for pioneering the automation of income and employment verifications, Equifax, through its flagship service – The Work Number® – has helped to digitize and accelerate billions of critical decisions that consumers need for credit, employment, social services and more.
“We continue to invest in unique, differentiated data – establishing Equifax as the clear industry leader in the best position to bring new and differentiated solutions to our customers and their consumers,” said Mark W. Begor, Chief Executive Officer, Equifax. “Our ability to integrate new data and drive synergies is powered by our cloud-native capability that only Equifax can provide. This enables rapid adoption and integration of bolt-on M&A and innovation that we can deploy more quickly into the marketplace and drive Equifax growth.”
Founded in 2011, i2verify is an income and employment verification provider, offering instant access to employment and wage data to verifiers who meet requirements for access under the Fair Credit Reporting Act.
i2verify serves employers nationwide, with a concentration in the healthcare and education sectors that enhances the existing services offered through The Work Number. The i2verify capabilities will further the progress made by Equifax Workforce Solutions to help increase consumer access to credit through secure and efficient digital verifications.
“The addition of i2verify gives Equifax Workforce Solutions additional momentum as we work to help accelerate the process for consumers applying for mortgages, social service benefits, and other important financial services,” said Joe Muchnick, SVP at Equifax Workforce Solutions. “It is highly complementary to our core and presents additional opportunities to meet the evolving needs of our clients.”
i2verify, an Equifax company, is now part of Workforce Solutions, the fastest-growing business unit at Equifax and the i2verify leadership team has assumed roles with Equifax Workforce Solutions.
“Instant access to employment and income data has never been more critical,” said Kevin Murphy, CEO of i2verify. “As verifiers and consumers look to connect the dots associated with employment through a single user experience, joining the Equifax team will allow us to deliver an optimal solution to both our verifier and consumer communities.
We are truly excited to collaborate as part of the Equifax team and look forward to championing the benefits of real-time, automated verifications to all our users.”
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