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
- 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 - Validate and adjust risk strategies
Leverage lost business performance insights and adjust existing lending policies to become more competitive
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
Find Growth Opportunities
- Find high-growth customer segments
Inform lending capacity with insights into a consumers’ ability to take on more credit - 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
Infographics
Insights from Equifax Canada’s Survey
Equifax Canada: Canadians fighting back against fraud and identity theft
Videos
Q4 2022 Quarterly Market Pulse Consumer Credit Trends and Insights Webinar Replay
Our quarterly Market Pulse credit trends can help Canadian businesses navigate current economic environments, and gain i ...
Brochures
Five key indicators of increased consumer risk
Learn more about how Equifax can help you stay on top of market challenges and navigate a changing risk landscape.
Product Sheets
Collections Suite Product Summary Sheet
Streamline revenue recovery across the collections lifecycle
White Papers
Are you building an agile customer affordability assessment strategy?
Whitepaper | Managing risk should start with a thorough understanding of your customers’ credit capacity
eBooks
4 ways to help deepen relationships with your customers
eBook | Learn how consumer data, analytics, and financial insights can help you elevate sales, grow share of wallet, and ...
Infographics
Focus your efforts on the right accounts
Infographic | Strategies to optimize collections in a downturn market
Reports
Economic Headwinds Impacting Debt Levels and Credit Payment Behaviour
Q4 2022 | Equifax Canada Market Pulse Quarterly Credit Trends