Equifax Inc. (NYSE: EFX) today announced at the National Automobile Dealers Association (NADA) show in Las Vegas a new suite of digital retailing solutions that aim to remove frustrations often associated with today’s online car shopping where early-stage research and preferences rarely translate to showroom experience. Three new offerings: Digital ID, Digital Qualify, and Digital Accelerate are designed to help dealers, lenders and third-party service providers to identify, authenticate, qualify and customize the right deal for each online shopper. This suite complements a robust selection of Equifax Automotive offerings that help dealers to accelerate the financing process and get customers into a vehicle that meets their needs faster.
“Equifax Automotive continues to expand its solution set to meet the needs of automotive dealers, lenders, marketers and the third parties critical to the car sales process,” said Byron McDuffee, automotive general manager at Equifax. “Helping consumers to understand vehicle affordability at the start of their online research and to speed up the financing process from their digital shopping to the showroom is critical to the car shopping experience.”
A survey commissioned by Equifax found 74% of consumers wanting a more seamless experience that translates between online research and the showroom. Car shoppers are looking for a simple, personalized car buying experience where they can seamlessly move from online to the dealership at any point in the journey. Speed of identity verification and financing are critical to this experience.
The new Equifax Automotive suite is comprised of three offerings, which can be purchased separately or used together to create a powerful automotive digital retailing experience:
- Digital ID: Transform the digital shopping experience and accommodate the fast-paced, high-interaction expectations of today’s online consumers. Allow shoppers to easily authenticate their identity from the dealer site and capture their consent online.
- Digital Qualify: Accelerates the digital shopping process by qualifying the consumer with real-time pre-qualification information – helping dealers to make offers of credit to consumers at the point of digital interaction and personalize the consumer experience with that information. With Digital Qualify, consumers are able to receive qualified offers online.
- Digital Accelerate: Helps to provide the information required to confidently structure the deal to meet the consumer’s needs.
“Our new Equifax Automotive suite is designed to empower automotive professionals to identify and authenticate, capture consumer consent, and qualify the right shopper with the right vehicle. We are helping them to ultimately construct the right deal so that their customers get the journey they expect in today’s retail environment, whether the customer is online or in the showroom,” continued McDuffee.
