Data Science 2.0 - Manipal Joins Hands with Equifax to Level Up its Analytics Offering
By Aditi Bhat
Over the past few years, the world has been witnessing a financial revolution. Financial activities such as lending and borrowing, making bill payments, repaying loans etc. that were traditionally associated with a lot of paperwork are now getting easier thanks to digitization.
With digitization, there’s been a massive surge in digital lending. It is much easier, reduces the inconvenience of massive paperwork, and can be completed in a jiffy.
But is it safe?
Equifax to the rescue
Equifax was born out of a vision to mitigate the risk of financial institutions that lend money to borrowers. The risk is not just limited to default on payments; it also extends to areas like changing financial norms, market volatility, and changing government regulations. Equifax primarily deals with reviewing consumer credit information at the point of time when a company is about to acquire the customer.
Equifax is a US-based entity and operates in 15 countries across North America, Latin America, Asia, and Europe. It has been trusted by borrowers and lenders alike since over a 100 years, and helps companies across a variety of industries such as telecom and banking by using advanced data analytics techniques to help them make safe decisions to manage their customer portfolio.
How does Equifax help?
Equifax helps both borrowers and lenders by providing transparent credit rating information that can enable high quality financial transactions. Big data analytics and data science are at the heart of Equifax’s functioning. They use technology to analyze customer data in a way that provides actionable insights. Here are a few key facets of the services provided by Equifax –
Authenticate information: Businesses can authenticate the identity of their customers to mitigate risks before conducting business with them.
Check against frauds: The world of financial lending is prone to frauds. With Equifax’s customer analytics reports, companies can determine potential frauds during the first phase of customer data analysis.
Acquire clients: By understanding the safest customer sets, companies can spend more marketing budgets on onboarding such clientele.
Debt recovery: Get hold of collection and debt recovery strategies.
Equifax’s consumer information reports offer insights into the repayment history across the different loans held by a particular consumer. This data is regularly tracked as well as updated, and gives a quick highlight of the key traits of a consumer, thereby enabling better decision-making focused on low risk and high returns.
Data science is the future
Companies like Equifax are increasingly looking out for aspiring data scientists who are adept at using big data analytics tools to process massive amounts of customer data and generate actionable insights. At present, over 50,000 jobs* in this field are currently available in our country!
Equifax joins hands with Manipal
Looking at the rising demand for qualified data science professionals, Manipal ProLearn has partnered with Equifax to ensure that our data science curriculum remains industry-friendly, relevant, and practical.
Moreover, Equifax’s top leaders will mentor our students, conduct guest lectures, as well as share their industry experience and expertise at various seminars and workshops hosted specially for the data science students of Manipal ProLearn. Equifax will also be an active participant of our recruitment process and will look at having our students join their talent pool.
It is a symbiotic relation, as Manipal ProLearn is renowned for its industry-ready talent equipped to meet the demands of today’s high tech work environment. And this latest partnership between Manipal and Equifax is going to be no different wherein we will continuously look at offering the required talent support to the global leader.