How to register with Equifax ePORT
Equifax is a premier credit rating company with a presence in over 15 countries. It established its presence in India in the year 2007 and is registered as Equifax Credit Information Services Private Limited (ECIS).
Equifax India is one of the 4 credit bureaus that are authorized by RBI to issue credit information reports and credit scores in India, amongst other credit-related services. The other leading credit rating bureaus are CIBIL, Experian and High Mark. The establishment of credit bureaus helps promote a more mature credit culture in the Indian economic system. It helps develop a more transparent and efficient credit culture, which benefits both lenders and borrowers.
Equifax combines technology and information-based analytics for managing risk across a range of solutions including decision platforms and unique data assets.
What does Equifax ePORT offer?
When you apply for a loan or credit card, the lender typically pulls out your credit report in order to check your creditworthiness. They need to evaluate if you are a high risk or low risk customer based on your credit behaviour. The credit score and credit history developed by the credit bureaus are a vital source of information about your credit track record and lenders often use this data to make a more informed lending decision.
Multiple risky customers can potentially throw the financial system off track due to payment defaults and delinquencies. Lenders rely on credit rating companies like CIBIL, Equifax, Experian etc., in order to have a look into the credit history of a potential customer. A lender typically picks those applicants who have a high credit score as the probability of defaulting on payments is relatively low. The credit rating system helps them weed out potentially risky customers and only lend to those who have a good credit history with consistent payment behavior. This is where the Equifax ePORT comes in with solutions for lenders.
Equifax ePORT is a credit portal that helps member institutions easily access a wide variety of tools and databases amongst other solutions. Access to ePORT enables members to make quick decisions and manage risk more efficiently, resulting in better revenue and productivity for the business. It is a business-to-business online gateway that helps lenders to get the information that they need to make better lending decisions.
The gateway allows user-friendly, flexible access to tools that drive bottom-line results for member institutions.
The advantage of Equifax ePORT is that it is open to companies of all sizes—from small businesses to large corporates. A firm of any size can benefit from the many facilities that being a member of ePORT offers. It helps in enabling member companies to balance risk and reward as well as allows them to make quicker, data-driven decisions. Member companies can access accurate, up to date and reliable consumer credit information as well as a range of other products, solutions and tools that speed up the loan approval process.
Equifax ePORT helps in enabling better, faster and easier access to product information and solutions, quicker turnaround time to requests, better customer support and the ability to download data directly.
Some of the benefits offered by Equifax ePORT:
Member Company administrators can have access to the following logs
- Consumer File Logs – Company administrators can view users' credit report activity including recent activity.
- Report Profile Logs – Company administrators can examine changes made to Equifax product selections, including recent change in product additions, deletions, and other changes.
- User Profile Logs – Company administrators can analyze changes related to users' profiles, by determining who added a new user or made changes to an existing users' profile. It is also possible to view and analyze the date and time the changes were made.
- Secure Token Logs – Administrators can assess each time a user downloads a new token. When a download happens, it is possible to view the IP address of the machine that was used to download the token along with the transaction date and time.
How to access Equifax ePORT?
In order to access ePORT a valid Company ID / User ID and Password must be entered on the login page of the Equifax ePort portal. Through this online gateway, Equifax offers a facility wherein banks, non-banking financial institutions and other financial institutions can access, in actual time, information and data about potential borrowers. Equifax ePORT allows company administrators to control access privileges. It assigns different user roles and limits the number of users with supervisory or company administrative access. This reduces the amount of sensitive information that may be distributed to users. This is the primary reason why the account set-up process is limited to company administrators.
How to register for Equifax ePORT?
Access to the Equifax database is only possible if the institution has officially registered with Equifax as a member as per the Credit Information Companies (Regulation) Act, 2005, the Credit Information Companies Regulations, 2006, and the Credit Information Companies Rules, 2006. Members are defined as credit institutions, credit information companies and certain authorized users as per the CIC Laws. Only authorized members are allowed to access credit information.
In order to become a member of and access Equifax ePORT for business needs, you need to contact Equifax in the following ways:
- You can register online via the Equifax India website.
- You can send an email to Equifax Customer Support online.
- You can call the customer support at 1-800-209-3247
- You can post an enquiry for more details at the following address:
Those registering online or offline will have to provide their company name, existing customer account number, security number, first name, and last name. If you forget your Customer Account Number, or Security Digits the website will direct you to the appropriate resource.