Data-Credito

Data-Credito is the bureau of credit histories of individuals in the Dominican Republic (the largest in the country by March 2022).

History

2022: Equifax bought Data-Credito

In mid-March 2022, Equifax announced the purchase of Data-Credito, but did not name the value of the transaction. This acquisition is not expected to have a significant impact on Equifax's financial results in 2022.

Data-Credito will need to leverage the capabilities of Equifax Cloud for credit reporting and scoring in the Dominican Republic. Equifax will allow financial institutions to obtain information about consumer financial profiles in the lending process, which will help the lender to responsibly open up other opportunities for obtaining basic financial services for persons not covered by banking services.

Equifax bought consumer credit data aggregator

Data-Credito's established value proposition and experienced local team provide a solid foundation for Equifax to strengthen leadership in risk analysis, decision-making, and fraud prevention platforms in the Dominican financial services market. Since the beginning of 2021, Equifax has invested more than $3 billion in strategic acquisitions to strengthen the company until 2024.

More data helps our customers make better decisions for consumers. With the acquisition of Data-Credito, we will provide new powerful data to lenders and service providers to help them better understand their customers. Almost half of the Dominican Republic's 10 million residents do not use banking services or do not use them enough, so Data-Credito is crucial to opening up other opportunities, said Equifax Chief Executive Officer Mark Begor.

Data-Credito became part of Equifax's international division and will continue to be headed by corporate vice president Alberto Adam. Adam believes the merger will improve the credit landscape in the Dominican Republic and also help customers generate strategic information to make better decisions.^[1]

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