U.S. Markets open in 4 hrs 18 mins

Equifax & Alchemy Technology Team Up for FinTech Innovation

Zacks Equity Research

Equifax Inc. EFX shares have gained a massive 55.3% year to date, significantly outperforming the 38.9% rally of the industry it belongs to and 19.7% rise of the Zacks S&P 500 composite.

The company recently announced an innovation partnership with Alchemy Technology, a lending-as-a-service organization offering technology, algorithms and servicing required in launching FinTech products.

The duo will offer easily deployable white labeled solutions to banks, specialty financing firms and FinTech startups, to help them speed up their time to market. The offerings combine Equifax’s data analytics, credit, identity and income verification solutions with Alchemy Lending Operating System.

“We have a dedicated focus on FinTechs and alternative lenders allowing access to data and the ability to provide more options to consumers looking for financial services, “said Sharla Godbehere, AltFi and FinTech leader at Equifax.

The move is just another attempt by Equifax to strengthen and expand its offerings by utilizing its strong position in data analytics, credit, identity and income verification.

Equifax, Inc. Revenue (TTM)

Equifax, Inc. Revenue (TTM)

Equifax, Inc. revenue-ttm | Equifax, Inc. Quote

Zacks Rank & Stocks to Consider

Equifax currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Zacks Business Services sector are Fiserv FISV, Huron Consulting HURN and Charles River Associates CRAI. While Fiserv and Huron sport a Zacks Rank #1 (Strong Buy), Charles River carries a Zacks Rank #2 (Buy).

Long-term earnings (three to five years) growth rate for Huron Consulting, Charles River Associates and Fiserv is estimated 13.5%, 13% and 12%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Equifax, Inc. (EFX) : Free Stock Analysis Report
Charles River Associates (CRAI) : Free Stock Analysis Report
Huron Consulting Group Inc. (HURN) : Free Stock Analysis Report
Fiserv, Inc. (FISV) : Free Stock Analysis Report
To read this article on Zacks.com click here.