Equifax, a leader in consumer, commercial, and workforce information solutions, announced this week that its auto lending customers would now have access to Black Book’s vehicle value data and loan-to-value model data. Through its new partnership with Black Book, Equifax customers will be better able to manage ongoing account management strategy, remarketing and recovery, pricing strategies, and competitiveness in the market, according to a company release.
Lou Loquasto, auto finance leader at Equifax, sat down with Auto Finance News during the 2014 Auto Finance Summit and and said that Equifax has a history of working with other companies in the interest of its lenders. Most recently it partnered with defi Solutions in mid-September to allow its customers access to the cloud-based loan origination system.
“We’ve really taken the stance that on behalf of our lenders, it’s a really smart thing to partner with several other vendors,’ Loquasto said, “and go to our lenders with solutions, whether it’s a data solution with a technology company or data solutions with another data company. I think that more companies are open for collaboration right now. I think that companies are talking with each other, and competitors are talking to each other; they are binding together for the best of the industry. It’s different that it was before.”
