ATLANTA—Equifax said it is partnering with FinTech Sandbox to help drive global FinTech innovation.
Startups can now leverage various forms of consumer and commercial data from Equifax in an effort to help these new businesses develop products for the benefit of the industry and consumers.
Nonprofit FinTech Sandbox promotes innovation in the financial sector by making data and infrastructure available to well-qualified fintech startups. In return, Sandbox startups collaborate with current and past residents by sharing learnings and advancements with respect to the fintech ecosystem. Participating startups pay no fees and no equity is taken, Equifax said.
In addition to data, Equifax will give analytical support to the Sandbox by allowing access to its Ignite portfolio of data and advanced analytics solutions. The portfolio securely and comprehensively supports the full analytical lifecycle – from data access and transparency to visualization and deployment – using a single, connected suite of advanced analytics processes, technology and tools, the company said.
‘Moving Fast’
“The fintech industry is moving fast, and I’m so proud that we have an opportunity to collaborate around our shared mission for advancing the industry. We look forward to helping influence the Sandbox’s next generation of leaders with our data and analytical tools,” said Sharla Godbehere, AtlFi and fintech leader at Equifax, in a statement. “We’re also offering our expertise in this space. Being a fintech company, we understand the challenges of bringing all the pieces together to make a product work. This is an exciting opportunity to partner and share our personal insights and experience with these startups.”
“At FinTech Sandbox, we have been looking to expand our offerings and support to startups focused on consumer financial wellness,” said Jean Donnelly, FinTech Sandbox executive director. “Equifax, with records for more than 850 million consumers and 92 million businesses worldwide, and advanced analytic solutions, can provide a needed lift for these companies bringing essential solutions to market.”