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Show Notes

Show Notes

(00:01:48) - (First question) - How Equifax extends beyond credit checks
(00:05:52) - Evolution from the Wild West of credit to a tech-driven, regulated oligopoly
(00:11:11) - Give-to-get model builds network; compiles detailed credit history
(00:13:06) - How credit bureaus grow with GDP and loan volumes
(00:16:09) - The shift from three to two credit checks for mortgages
(00:24:06) - Facing cyclical shifts, credit bureaus' margins decline with IT investments
(00:26:19) - How The Work Number, acquired by Equifax, has evolved into a critical income verification service
(00:27:40) - Ingesting exclusive data, Equifax dominates income verification via a large network
(00:33:41) - How Work Number stays atop the verification market despite competition
(00:44:26) - Increasing Work Number margins lift Equifax; HR paperwork still strategically important
(00:45:47) - Work Number poised for solid double-digit growth; boosts overall business outlook
(00:52:05) - The 2017 Equifax breach led to executive shakeup and strategic focus shift
(00:56:47) - Increasing competitive intensity, aggressive pricing, and potential regulation are key risks for Equifax
(00:60:36) - Lessons learned from studying Equifax