Economic Readiness Insights

Helping organizations build resilience in challenging economic times

In an uncertain economy, businesses are inclined to pause. Our recession readiness insights can help your business plan so your operation is resilient and prepared for whatever is next.

Economic indicators show the need for downturn planning



Increase in the Consumer Price Index on an annual average basis; the largest increase since 1982


The rise in interest policy to this rate in 2023; the highest the Bank of Canada’s key rate has been since 2007


Value that Canadians lost in net worth in 2022; with the drop in Q2 being a record quarterly loss

Protect and Grow your Business by Uncovering Hidden Risks and Opportunities

Limit Risk-icon

Limit Risk

  • Review accounts more frequently
    Closely monitor your portfolio to spot changes that may increase your risk or alter your consumers’ needs.

 

  • Minimize portfolio risk exposure
    Optimize risk strategies based on potential consumer vulnerabilities and risk scenarios

 

Optimize Collections Strategy-icon

Optimize Collections Strategy

  • Minimize losses from accounts with financial stressors
    Identify credit file cash flow changes that may detect potential consumer risk

 

  • Prioritize debt recovery efforts
    Prioritize recovery initiatives on customer accounts with a higher likelihood of repayment Improve contact rates to maximize recoveries

 

  • Improve contact rates to maximize recoveries
    Improve contact strategies with the most recently reported contact information for debtors

*Triggers is only available to approved credentialed Equifax members who have obtained appropriate consent and who have permissible purpose to access individual credit files. Additional terms, conditions and exclusions may apply. Contact your Equifax rep for details.

Find Growth Opportunities-icon

Find Growth Opportunities

 

 

  • Target potential customers smarter
    Calculate your share of a customers’ product mix to identify upsell and cross sell opportunity

 

  • Use data visualization to inform customer segmentation
    Leverage market intelligence across various geographies, customer dimensions, and credit metrics

Market Pulse Trends Insights

Our Experts Can Help Support You In Your Planning
Now is the time to be proactive and get downturn-ready.

1. Implement risk management strategies to optimize risk mitigation across all your products and services.
2. Deliver growth by targeting consumers with capacity for discretionary spending that balances risk and revenue.
3. Identify opportunities to enhance collections strategies to help optimize operational efforts and potentially improve recovery rates.
Contact Us

Connect with our sales team for products and solutions tailored to support your business in any economic condition.

Join Equifax for quarterly Market Pulse webinars
Listen to quarterly credit trends, market data and economic insights so your business can make more confident decisions in a downturn economy
Contact Us

Connect with our sales team for products and solutions tailored to support your business in any economic condition.

Join Equifax for quarterly Market Pulse webinars
Listen to quarterly credit trends, market data and economic insights so your business can make more confident decisions in a downturn economy