TORONTO, ON (October 29, 2024) — BDC, Canada’s bank for entrepreneurs, and Equifax® Canada are proud to launch the Canadian Small Business Health Index, an innovative dataset that combines real-world data and business sentiment to provide a comprehensive view of the financial well-being of small and medium-sized enterprises (SMEs) across Canada. Using robust, anonymized Equifax data, this innovative index is designed to help entre ...

TORONTO, ON (October 24, 2024) – Equifax Canada has launched the Global Consumer Credit File, an innovative solution designed to empower lenders to make more confident credit lending decisions for newcomers to Canada. The solution creates a calibrated credit score using newcomers’ credit histories from their countries of origin. The platform offers lenders and newcomers to Canada a seamless and secure means to access global credit data whi ...

TORONTO, ON (October 11, 2024) – Equifax Canada has announced the appointment of Ramon Yarde as Chief Data Officer (CDO), as part of Equifax Canada’s commitment to market-leading data, analytics and unparalleled insights for Canadian consumers and businesses.  Yarde has served as interim CDO since February 2024. A trusted leader at Equifax Canada since 2006, he has held several leadership roles during his tenure, including ...

TORONTO, ON (September 24, 2024) – Equifax Canada reports that while application fraud is down in some areas, automotive lenders are seeing a surge in fraud. According to new data from Equifax Canada, automotive fraud is up by 54 per cent year-over-year and is largely driven by falsified credit applications and the continued prevalence in identity theft. Ontario has experienced the most significant increase in auto fraud rates, doubling sinc ...

TORONTO, ON (September 17, 2024) – Equifax Canada’s Q2 Business Credit Trends Report reveals an uptick in businesses missing credit payments. According to the data, over 56,000 businesses missed at least one financial trade in Q2 2024, up 10.2 per cent from the same time period in 2023. At a trade level, the 60+ day (volume) financial trade delinquency rate went up from 2.8 per cent to 3.1 per cent in the last 12 months, driven l ...

TORONTO, ON (August 27, 2024) – Consumer debt levels rose to $2.5 trillion in the second quarter of 2024, marking a 4.2 per cent increase since Q2 2023, according to the latest Market Pulse Consumer Credit Trends and Insights Report from Equifax® Canada. Credit cards continued to be the primary driver of rising debt with outstanding balances reaching $122 billion, up 13.7 per cent from Q2 2023. On average, card holders ca ...

TORONTO, ON (June 18, 2024) – According to the latest data from Equifax® Canada’s Market Pulse Q1 2024 Business Credit Trends Report, new installment loan originations surged by 74 per cent year-over-year in the second half of 2023. Businesses that raced to meet the Canada Emergency Business Account (CEBA) forgiveness deadline of January 18th, 2024 could potentially be driving this higher-than-seasonal demand. "Whi ...

TORONTO, ON (June 11, 2024) – Consumer debt rose to $2.46 trillion at the end of Q1 2024, marking a 3.5 per cent increase from the previous year, according to the latest Market Pulse Consumer Credit Trends and Insights Report from Equifax® Canada. Financial strain was evident in the first quarter of 2024 as mortgage delinquency rates continued to climb in highly-priced housing markets like Ontario and British Columbia, and missed ...

TORONTO, ON (May 17, 2024) – Equifax Canada, a global data, analytics, and technology company, is committed to promoting financial inclusion and access to fair and responsible credit opportunities for all Canadians. As part of this commitment, Equifax is exploring how data sources not traditionally used in credit scores, such as payday loans, could help create a more complete picture of consumers' credit  health. "W ...

TORONTO, ON (April 23, 2024) – Equifax® Canada, a global data, analytics, and technology company, is committed to helping people live their financial best and to take steps to further financial inclusion for people in Canada with the continued support of rent reporting in credit scores. As the largest consumer credit bureau in Canada, Equifax strives to empower economically healthy individuals and financially inclusive commu ...

  ATLANTA, MARCH 21, 2024 – Equifax® (NYSE: EFX) today released its 2023 Security Annual Report, documenting the company’s continued commitment to security leadership through constant adaptation and proactive protection. The fourth annual report outlines how Equifax increased efficiency, reduced friction and strengthened continuous controls governance across its internal security program, while also collaborating externally ...

  TORONTO, ON (March 19, 2024) – Many Canadian businesses are facing an uphill battle, as evidenced by a 41.4 per cent surge in business insolvencies in 2023 when compared to 2022. The latest data from Equifax® Canada’s Market Pulse Quarterly Business Credit Trends Report also points to a 14.3 per cent uptick in the number of businesses that missed a payment on a credit product (Q4 2023 vs. Q4 2022). ...