Equifax has strategically expanded its verification service capabilities with a new acquisition. The global data, analytics, and technology company has officially completed the acquisition of Vault Verify, a specialized provider of employment and income verification services. This move is designed to enhance the depth and efficiency of the data Equifax provides to verifiers, helping them make faster, more informed decisions while offering employers more options for sharing data.
Quick Intel
Equifax has finalized its acquisition of verification provider Vault Verify.
The deal enhances Equifax's data offerings for employment and income verification.
It expands options for employer clients to provide data to a verifications provider.
Vault Verify's services complement Equifax's existing The Work Number database.
The acquisition aims to streamline processes for consumers applying for loans and jobs.
Vault Verify is now integrated into the Equifax Workforce Solutions business unit.
The primary goal of this acquisition is to augment the information available through Equifax's verification ecosystem. By integrating Vault Verify's services, Equifax can provide verifiers with a more robust dataset, ultimately accelerating critical decisions in processes like mortgage applications and employment checks. This provides consumers with faster outcomes during important financial moments. Mark Begor, Chief Executive Officer of Equifax, stated, "Our Purpose is to help people live their financial best. The acquisition of Vault Verify complements The Work Number and Equifax verification capabilities with additional information that can help streamline important financial moments for consumers."
Founded in 2012, Vault Verify brings a strong technological foundation to Equifax, specializing in real-time, API-based verification services through its proprietary platform. With a significant client base in the healthcare sector, the company serves employers nationwide. The integration leverages the Equifax Cloud to rapidly absorb Vault Verify's operations. Joe Muchnick, Chief Operating Officer at Equifax Workforce Solutions, commented, "We are excited about the enhanced set of knowledge and capabilities that our combined Vault Verify and Equifax teams will be able to offer as we seek to help streamline life's important moments through secure, efficient verifications." The entire Vault Verify team has now moved into roles within the Equifax Workforce Solutions unit.
ABOUT 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.
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