Equifax and Polk Partner to Drive New Solutions for Automotive Industry
19 July 2000
Wide Range of Products and Services Offered, From Web Site Prescreening to ID Authentication
ATLANTA - Equifax Inc. and Polk, the automotive intelligence company, have
teamed up to provide a new generation of marketing products and services to the
automotive industry -- manufacturers, lenders and dealers -- enabling them to
provide convenience and benefits to consumers while adding value to the
automotive market.
The two business intelligence providers are using their extensive
experience in the automotive industry to make it easier than ever for their
automotive clients to offer consumers the right car, at the right time, at the
right price. And it makes it easier and more profitable for the manufacturer
and dealer, knowing what customers want and knowing how and when to get it to
them.
At the same time, both companies have kept the consumer's privacy
interests at the forefront of their product development process. Both
companies fully understand the importance of maintaining the delicate balance
between consumer concerns about privacy and the legitimate use of information
to empower consumers and businesses and add value to automotive transactions.
"This arrangement enables us to provide a seamless, integrated set of new
products and services to the automotive industry," said Marguerite Watanabe,
senior vice president, Equifax Automotive Solutions. "The more a business
knows about its customers' needs and preferences, the better it can serve
them. That's what this association is all about."
"Polk maintains a wealth of historical information on vehicle ownership
and purchasing habits, providing the foundation for understanding prospective
auto purchasers and lessees. This enables Polk to pinpoint both the right
vehicle targets for individual consumers and the appropriate time an offer of
a competitive deal on leasing and purchasing would be received," said Paul
VanderMarliere, vice president of strategic initiatives at Polk. "Couple that
with Equifax's experience in analyzing consumer financial and credit data and
you have a win-win situation, bringing buyers and sellers together for added
value."
This arrangement continues an ongoing relationship between Equifax and
Polk. In February, Equifax announced the acquisition of Polk's Consumer
Information Solutions (CIS) Group, whose innovative consumer lifestyle and
demographic data and direct marketing capabilities have helped position
Equifax as a force in the direct marketing industry.
The Polk/Equifax marketing agreement's initial offerings for the
marketplace will be:
* Statistical models to predict specific behavior based on Polk's
automotive and Equifax's credit information. The first series of
models will focus on automotive purchase intention.
* A product that will identify individuals most likely to be in the
market to purchase a vehicle and score them for credit worthiness based
on the customer-defined criteria as applied by Equifax.
* An enhancement to the Polk Dealer Marketing Manager (PDMM), a marketing
database designed specifically for dealers (http://www.polk.com/PDMM ).
Equifax will conduct credit scoring of lists created through PDMM
product.
* A product to enhance Equifax's Decision Power, which provides web-based
prescreening. It will provide automotive ownership and intention
information to individuals accessed via the Internet through the
Decision Power product.
* Statistical reports and market analysis based on Polk's automotive and
Equifax's credit information from the respective companies. This type
of analysis will include market penetration reports, opportunity
analysis, customer profiling and more.
For more information on these products and services, please contact:
At Equifax: John Veltre (770-740-5994)
At Polk: Tim Monahan (248-728-7091)
Equifax, a worldwide leader in shaping global commerce, brings buyers and
sellers together through its information management, transaction processing,
direct marketing, and customer relationship management businesses. Atlanta-
based Equifax serves the financial services, retail, credit card,
telecommunications/utilities, transportation, information technology and
healthcare industries and government. Equifax adds knowledge, expertise,
convenience and security to provide value-added solutions and processes for its
customers wherever they do business, including the Internet and other networks.
Equifax employs about 15,000 associates in 16 countries with sales in almost 50
and has $1.8 billion in revenue.
Polk is a global company, delivering analytic and consultative solutions and
insight to the automotive industry strengthened by a long history of managing,
analyzing and interpreting vehicle ownership data. Through the understanding of
individuals' vehicle ownership decisions over time, Polk enables its clients to
maintain current customers, win new ones and build brand loyalty. The company
has served the automotive industry for 78 years and is the longest-standing
steward of automobile records in the United States. Founded in Detroit in 1870,
Polk launched its motor vehicle statistical operations in 1922 when the first
car registration reports were published. It now serves nearly every segment of
the motor vehicle industry as an analytical consultant and statistician, a
provider of database-marketing services, a supplier of vehicle histories and a
data enabler for geographic information systems. Based in Southfield, Mich.,
Polk is a privately held firm that employs more than 1,300 people worldwide,
currently operating in Australia, Canada, China, France, Germany, Holland,
Spain, the United Kingdom and the United States.
