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138 Articles
Helping Lenders Protect Market Share with Mortgage Attrition Predictor™ fro ...
Product Release (May 28 2025) – Equifax Canada provides mortgage lenders with the solutions they need to proactively protect their business. In an environment of economic uncertainty, shifting regulations, fluctuating interest rates, mortgage customers are increasingly shopping for better rates and terms, leading to heightened competition among lenders. Mortgage Attrition Predictor™ helps empower lenders to proactively anticipate custome ...
May 28, 2025
Non-Mortgage Delinquencies Reach Levels Not Seen Since 2009
TORONTO, ON (May 27, 2025) – Economic uncertainty continued to impact credit usage and consumer financial health across Canada during the first quarter of 2025 according to Equifax® Canada’s latest Market Pulse Consumer Credit Trends and Insights. Total consumer debt in Canada was $2.55T at the end of Q1, up four per cent year over year, but down more than $6B from the end of 2024. Average non-mortgage debt per consumer rose to $21,859 in Q1 ...
May 27, 2025
Equifax Releases 2024 Security Annual Report
ATLANTA, March 27, 2025  – Equifax® (NYSE: EFX) has released its 2024 Security Annual Report, highlighting its continued commitment to transparency, collaboration and innovation. For the fifth consecutive year, the report gives a look into how the organization has doubled down on security and the measures it has implemented to face today’s cyber threats, including an industry-leading passwordless authentication transformation. “Wh ...
March 27, 2025
Fraud Concerns are Escalating with 89 per cent of Canadians Saying Companie ...
TORONTO, ON (March 4, 2025) – Concerns about fraud are escalating among Canadians, with a new Equifax Canada survey* conducted ahead of Fraud Prevention Month revealing that 89 per cent of those surveyed believe companies must do more to protect personal data. Seniors and Quebec residents are particularly worried, demanding stronger fraud prevention measures and broader fraud education.   Key findings of the surve ...
March 04, 2025
Stable versus Struggling: Canada’s Financial Divide Widens
TORONTO, ON (February 25, 2025) – A growing financial divide is emerging across Canada, with some borrowers benefiting from lower interest rates while others struggle under mounting debt. According to Equifax Canada’s Q4 2024 Market Pulse Consumer Credit Trends Report, some Ontario mortgage holders are experiencing severe financial distress, with delinquencies more than 50 per cent higher than pre-pandemic levels. Total ...
February 25, 2025
Dealertrack Canada Announces New Partnership with Equifax Canada and Intera ...
TORONTO, ON – February 4, 2025 — Dealertrack Canada, the leading financing platform provider in the automotive and recreational sectors, is proud to announce a transformative collaboration with Equifax Canada and Interac Corp. (Interac).  This partnership introduces an industry-leading identity verification solution, using Equifax identity orchestration services  integrated with Interac® document verification service. This inno ...
February 04, 2025
Equifax Canada Demonstrates Innovation and Growth with Industry-Leading Clo ...
TORONTO, ON (December 17, 2024) – Equifax Canada is excited to announce the successful completion of a multi-year cloud transformation of all customer products and platforms onto the Equifax CloudTM. This ambitious move allows Equifax Canada to help customers and partners leverage unique, proprietary Equifax data and patented EFX.AI capabilities to help them solve their business challenges, manage risk, and grow their busin ...
December 17, 2024
Canadian Businesses Face Contrasting Fortunes as Holidays Approach
TORONTO, ON (December 3, 2024) – Newer Canadian businesses are driving significant growth in debt balances, according to the Equifax Canada Q3 Business Credit Trends Report, setting a complex stage for the upcoming holiday season. Total business debt balances reached $35 billion in Q3 2024, a 15.3 per cent increase from the same period last year, with businesses opened in the past 24 months contributing to a 25.2 per cent rise in balances co ...
December 03, 2024
Interest Rate Cuts Begins to Ease Consumer Credit Burden - But Not for Ever ...
TORONTO, ON (November 26, 2024) – Equifax Canada’s latest Market Pulse Consumer Credit Trends Report reveals that while recent interest rate cuts have provided easing of financial  pressures for some Canadians, other groups such as newcomers to Canada and consumers that are new to credit continue to face challenges.    New to Credit and Newcomers to Canada  As delinquency levels start to flatten ou ...
November 26, 2024
BDC and Equifax Launch Innovative Canadian Small Business Health Index
TORONTO, ON (October 29, 2024) — BDC, Canada’s bank for entrepreneurs, and Equifax® Canada are proud to launch the Canadian Small Business Health Index, an innovative dataset that combines real-world data and business sentiment to provide a comprehensive view of the financial well-being of small and medium-sized enterprises (SMEs) across Canada. Using robust, anonymized Equifax data, this innovative index is designed to help entre ...
October 29, 2024
Equifax Canada Champions Financial Inclusion for Newcomers to Canada with t ...
TORONTO, ON (October 24, 2024) – Equifax Canada has launched the Global Consumer Credit File, an innovative solution designed to empower lenders to make more confident credit lending decisions for newcomers to Canada. The solution creates a calibrated credit score using newcomers’ credit histories from their countries of origin. The platform offers lenders and newcomers to Canada a seamless and secure means to access global credit data whi ...
October 24, 2024
Equifax Canada Appoints Ramon Yarde as Chief Data Officer
TORONTO, ON (October 11, 2024) – Equifax Canada has announced the appointment of Ramon Yarde as Chief Data Officer (CDO), as part of Equifax Canada’s commitment to market-leading data, analytics and unparalleled insights for Canadian consumers and businesses.  Yarde has served as interim CDO since February 2024. A trusted leader at Equifax Canada since 2006, he has held several leadership roles during his tenure, including ...
October 10, 2024