ATLANTA, March 23, 2018 /PRNewswire/ -- To empower online auto shoppers with access to their credit scores earlier in the loan process and make their time in the F&I office more efficient and productive, Dealer Marketing Services, Inc., the makers of ProMax, are using several auto products and solutions powered by Equifax (NYSE: EFX), the global information solutions company. Since 2016, ProMax has used the Equifax suite of auto products to generate high quality leads, target the right in-market shoppers, convert website visitors and service customers into buyers, verify employment and income and speed up the overall sales process. Last year, the union with Equifax enabled ProMax's dealers to convert more than 180,000 online visitors into high-quality leads.
Additionally, ProMax uses The Work Number® from Equifax Workforce Solutions to improve the consumer experience by verifying borrower employment and income in real time to eliminate the need for borrowers to present physical paystubs and W2s. The Work Number database contains employer-provided payroll records, including more than 80 percent of Fortune 500 companies plus a majority of federal government civilian employers. Results from the database can also help instantly clear some bank stipulations, leading to quicker funding of contracts. To date in 2018, ProMax has used The Work Number to verify income and employment for more than 25 percent of over 40,000 deals.
ProMax offers a full front end software suite to automotive dealers and a strong track record of innovative and award-winning credit solutions. With Equifax, ProMax is able to centralize requests for credit reports, scores, employment and income verifications and more with one partner.
"We've had tremendous success offering these Equifax products to dealers and subsequently consumers too," said Shane Born, Chief Operating Officer, Dealer Marketing Services. "Generating and qualifying leads is the lifeblood of the auto business, and Equifax's suite of consumer credit and digital marketing solutions makes the process easier than ever."
"Consumers expect a better, more personalized shopping experience, and aligning the right vehicle to a consumer's budget is an important, often overlooked piece," said Lena Bourgeois, Equifax Vice President of the Enterprise Alliance Automotive division. "ProMax understands this and has taken the necessary steps to ensure they are an early adopter and innovator in the market. The process has become so simple that income and employment verification will become an industry norm."
The Work Number database, managed by Equifax, is the nation's largest centralized repository of payroll data. In 2017, Equifax delivered double digit record growth to its database.
About Equifax
Equifax is a global information solutions company that uses unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 10,300 employees worldwide.
FOR MORE INFORMATION
1550 Peachtree Street, NE
Atlanta, Georgia 30309
Wyatt Jefferies
Sr. Director, Public Relations
404-885-8907
wyatt.jefferies@equifax.com
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SOURCE Equifax Inc.
