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Equifax & Alchemy Technology Team Up for FinTech Innovation

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Equifax Inc. (EFX - Free Report) shares have gained a massive 55.3% year to date, significantly outperforming the 38.9% rally of the industry it belongs to and 19.7% rise of the Zacks S&P 500 composite.

The company recently announced an innovation partnership with Alchemy Technology, a lending-as-a-service organization offering technology, algorithms and servicing required in launching FinTech products.

The duo will offer easily deployable white labeled solutions to banks, specialty financing firms and FinTech startups, to help them speed up their time to market. The offerings combine Equifax’s data analytics, credit, identity and income verification solutions with Alchemy Lending Operating System.

“We have a dedicated focus on FinTechs and alternative lenders allowing access to data and the ability to provide more options to consumers looking for financial services, “said Sharla Godbehere, AltFi and FinTech leader at Equifax.

The move is just another attempt by Equifax to strengthen and expand its offerings by utilizing its strong position in data analytics, credit, identity and income verification.

Equifax, Inc. Revenue (TTM)

Zacks Rank & Stocks to Consider

Equifax currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Zacks Business Services sector are Fiserv (FISV - Free Report) , Huron Consulting (HURN - Free Report) and Charles River Associates (CRAI - Free Report) . While Fiserv and Huron sport a Zacks Rank #1 (Strong Buy), Charles River carries a Zacks Rank #2 (Buy).

Long-term earnings (three to five years) growth rate for Huron Consulting, Charles River Associates and Fiserv is estimated 13.5%, 13% and 12%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.

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