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Equifax (EFX) Launches SmartReserve for CECL Compliance
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Equifax Inc. (EFX - Free Report) introduced SmartReserve yesterday, an offering that helps banks and financial institutions meet new CECL (Current Expected Credit Loss) standards.
The CECL model requires financial institutions to use current conditions, historical information and reasonable forecasts to evaluate the expected loss over the life of a loan. Meeting CECL standards require significantly large amounts of data and methodological changes to precisely forecast reserves based on new parameters. It involves modeling, analysis and reporting in minute detail. Powered by Equifax Credit Trends, SmartReserve helps users meet these requirements.
Per Amy Graybill, vice president, Enterprise Insights & Core Data Products, Equifax, "SmartReserve provides the assistance lenders need to help protect their business against non-compliance with new CECL standards, along with historical pre and post-recession data that is needed to accurately forecast future credit losses and calculate required reserves."
Using Equifax Credit Trends logic, SmartReserve links trades over time and life-of-loan forecasting entire consumer database wherein consumers have at least one trade along with key consumer risk profile attributes. It also links trades over time to enable vintage curves, updates and forecasting on the basis of loan and consumer profiles for facilitating critical life-of-the loan forecasting.
Shares of Equifax have gained 7.9% in the past three months, outperforming the 4.4% increase of the industry it belongs to.
Our Take
Equifax’s offerings have been of great importance to its customers. Product innovation is one of the top priorities for Equifax and part of its ongoing technology transformation endeavor. We believe that a solid product portfolio and a clear understanding of the sector will keep Equifax ahead of its peers.
CRA International, FTI Consulting and NV5 Global flaunt an impressive surprise history, having delivered an average four-quarter beat of 38.6%, 58.3% and 12.7%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Equifax (EFX) Launches SmartReserve for CECL Compliance
Equifax Inc. (EFX - Free Report) introduced SmartReserve yesterday, an offering that helps banks and financial institutions meet new CECL (Current Expected Credit Loss) standards.
The CECL model requires financial institutions to use current conditions, historical information and reasonable forecasts to evaluate the expected loss over the life of a loan. Meeting CECL standards require significantly large amounts of data and methodological changes to precisely forecast reserves based on new parameters. It involves modeling, analysis and reporting in minute detail. Powered by Equifax Credit Trends, SmartReserve helps users meet these requirements.
Equifax, Inc. Revenue (TTM)
Equifax, Inc. Revenue (TTM) | Equifax, Inc. Quote
Per Amy Graybill, vice president, Enterprise Insights & Core Data Products, Equifax, "SmartReserve provides the assistance lenders need to help protect their business against non-compliance with new CECL standards, along with historical pre and post-recession data that is needed to accurately forecast future credit losses and calculate required reserves."
Using Equifax Credit Trends logic, SmartReserve links trades over time and life-of-loan forecasting entire consumer database wherein consumers have at least one trade along with key consumer risk profile attributes. It also links trades over time to enable vintage curves, updates and forecasting on the basis of loan and consumer profiles for facilitating critical life-of-the loan forecasting.
Shares of Equifax have gained 7.9% in the past three months, outperforming the 4.4% increase of the industry it belongs to.
Our Take
Equifax’s offerings have been of great importance to its customers. Product innovation is one of the top priorities for Equifax and part of its ongoing technology transformation endeavor. We believe that a solid product portfolio and a clear understanding of the sector will keep Equifax ahead of its peers.
Zacks Rank & Stocks to Consider
Currently, Verisk carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services sector are CRA International (CRAI - Free Report) , FTI Consulting (FCN - Free Report) and NV5 Global (NVEE - Free Report) . While CRA International and FTI Consulting sport a Zacks Rank #1 (Strong Buy), NV5 Global carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CRA International, FTI Consulting and NV5 Global flaunt an impressive surprise history, having delivered an average four-quarter beat of 38.6%, 58.3% and 12.7%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>