700Credit Joins Forces with Equifax to Simplify Consumer Pre-Qualification with QuickQualify Xpress

Data, analytics and technology converge to create better customer experiences

Farmington Hill, Michigan – August 28, 2019 700 Credit, LLC, the automotive industry’s leading provider of credit reports, compliance solutions and consumer pre-qualification products, today announced a collaboration with Equifax for their QuickQualify web-based platform.  QuickQualify Xpress utilizes Equifax identity data and uniquely differentiated data sources to automatically prefill applications, which reduces keystrokes for a more frictionless customer experience.

QuickQualify Xpress asks only for a zip code and last four digits of the consumer’s SSN, before automatically populating the consumer’s demographic information.  In the mobile environment, QuickQualify Xpress helps mitigate risk by authenticating the user’s identity before requesting further information.

“QuickQualify Xpress is a natural evolution of our soft-pull technology”, said Ken Hill, Managing Director of 700Credit.  “Our QuickQualify product is the first step in reducing the amount of data consumers need to provide before a soft-pull prequalification can be executed.  QuickQualify Xpress further minimizes the data required from a consumer for pre-qualification, enhancing their experience with the platform and maximizing consumer engagement.  80% of consumers are shopping from a mobile device before they enter the dealership.  This tool makes it even simpler for a consumer to start the pre-qualification process.”

“Generation Z has only known a digital world, and they are predicted to outnumber Millennials this year,” said Lena Bourgeois, vice president, enterprise alliances, Equifax. “This collaboration with 700Credit will help dealers stay current with today’s buyers by simplifying digital interactions, providing instant identity results and minimizing the frustrations often associated with digital abandonment. Collectively, the convergence of data, analytics and technology can improve dealer outcomes across the digital interaction ecosystem.”  

Benefits to QuickQualify Xpress include:

  • Helps mitigate risk by authenticating the user’s identity and mobile device in real-time
  • Reduces form abandonment increasing the number of leads to the dealer
  • Credit score and full soft pull credit report for the dealer

 

About 700Credit

700Credit is the automotive industry’s leading provider of credit reports, compliance products and prescreen services. The company’s product and service offerings include: credit reports, dealer-facing prescreen and consumer-facing pre-qualification platforms, OFAC compliance, Red Flag solutions, score disclosure notices, adverse action notices and more. 700Credit’s goal is to provide its clients with the highest quality data in a compliant framework in the most efficient manner possible. For more information about 700Credit, visit www.700credit.com.

 

About Equifax 

Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, 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 11,000 employees worldwide. For more information, visit Equifax.com and follow the company’s news on Twitter and LinkedIn.  

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