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Equifax improves credit transparency

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ATLANTA (6/1/09)--Equifax announced it has improved credit transparency through the integration of Discover Source--which provides automated tax filing information--into its TALX unit, an automated employment and income verification provider. The solution creates a risk profile with an income and employment status of a borrower, drawn from a database of consumer files. The profile also contains federal tax return data, key mortgage-related data and predictive income. Equifax provides employment and income verification and human resources business process outsourcing services to financial institutions, including credit unions. “For the mortgage industry, this suite provides a single source for the vast majority of data needed for loan modifications and mortgage lending,” said Dann Adams, Equifax president of consumer information services. “To be successful in today’s environment, financial institutions must have an understanding of not only a borrower’s propensity to pay, based on credit information, but also their capacity to pay,” said Bill Canfield, TALX president. The solution draws from a database of more than 200 million consumer files and a subsidiary with more than 192 million employer records, Equifax said. Equifax is based in Atlanta.

Indiana league Servicecorp offers ed assistance to clients

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INDIANAPOLIS (6/1/09)--The Indiana Credit Union League’s Servicecorp is offering a promotion that allows its client credit unions to receive a 20% rebate on the registration cost of education sessions. “The Servicecorp offer extends to education sessions, including webinars, teleconferences, seminars, conferences and planning sessions presented by the league,” said Indiana league President John McKenzie. The rebates will continue until an aggregate total of $20,000 is reached, the league said. Registration fees for major conferences also have been reduced by 10% to 20% compared with last year.

Empathy in innovation keynotes CUNA council summit

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MADISON, Wis. (6/1/09)--Credit unions can learn how to create new value in credit union products and services by focusing on empathy to drive innovation during the CUNA Technology Council Summit, Aug. 5-8 in San Francisco. During “Wired to Care,” Dev Patnaik, founder of the growth strategy firm Jump Associates, will explain how companies must first understand what potential customers care about in order to create new value. He also will discuss the biological sources of empathy within the human mind and their role in decision making, learning and judgment. Patnaik will demonstrate how politicians can use empathy to cut through a jungle of contradictory information. Core Processor Roadmap breakout sessions will aim to help credit unions be more competitive and help drive efficiency. Representatives from OSI, Symitar Systems, Harland Financial Solutions and Fiserv will outline short- and long-term plans, how their plans intersect industry trends, and the benefits to credit unions. Additional conference sessions will explore: online banking, collaboration technologies, Six Sigma, virtual solutions for real problems, information technology examiner issues, security and compliance, update and open-source software. “This year’s sessions are focused on good decision-making that takes advantage of efficient technologies and innovative solutions to help credit unions stay at the forefront of technology during a turbulent economy,” said Rudy Pereira, council chair and senior vice president of operations and technology for Alliance CU in Chicago. Participants may register online. A complimentary conference registration and up to $1,500 in related expenses are available through the Dan Riley Memorial Scholarship. For more information, use the link.