Indirect Auto Lending Made Faster, More Efficient With APPRO DealerTrack(TM) eContracting Interface

ORLANDO, Fla., March 6 -- Equifax today announced at the Consumer Bankers Association's National Automobile Finance Conference & Tradeshow, the successful integration of the APPRO DealerTrack eContracting interface to streamline the indirect auto lending process for financial institutions and credit unions such as San Antonio Federal Credit Union. The interface demonstrates the combined strength of DealerTrack, a leading provider of on-demand software solutions for the automotive retail industry, and the automated credit risk management and financial technologies of Equifax Enabling Technologies.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060224/CLF037LOGO )

The eContracting interface leverages APPRO LoanCenter Consumer(TM), a loan automation and credit risk decisioning system designed specifically for consumer lending. Using this technology, what used to take up to five days with paper-based processes now can be completed in a day. With eSignatures supported by this interface, borrowers' contract signatures can be captured and sent electronically, resulting in faster or even same-day funding to the dealership.

"Since the integration of the interface, the dealers we work with have reported improved control over their contracts-in-transit, resulting in increased cash flow," said Chuck Smith, first vice president, director of lending for San Antonio Federal Credit Union. "The interface allows us to accept eContracts from our dealers, which improves the overall efficiency of our department."

Dealers working with lenders who take advantage of the APPRO interface gain access to the eContracting technology to streamline their indirect auto lending practices. Users can minimize the time required to fund a loan, reduce contracts-in-transit and decrease errors. With the interface, a process that once involved a series of overnight shipments, faxes and phone calls now can be done quickly and securely online.

"Partnering with Equifax to develop this interface enables us to provide eContracting to more financing sources and increase the value proposition for dealers," said Richard McLeer, vice president of DealerTrack. "With eContracting, every step of the indirect auto lending process is automated, from data entry to signing funding documents. This streamlined process allows lenders to focus on the next loan and dealers to concentrate on enhancing sales."

The indirect auto lending market is vital to the operations of many financial institutions trying to meet today's customer demands for faster and more convenient service. Working together, Equifax and DealerTrack have addressed this need by providing an integrated solution that accelerates the indirect auto lending process, resulting in increased efficiencies and contract volume.

"For more than 20 years, we have been working with industry partners such as DealerTrack to deliver lending solutions that redefine consumer lending," said Steve Uffman, group executive, Enabling Technologies, Equifax. "Working with DealerTrack enables us to deliver a valuable tool to customers through the eContracting interface."

About DealerTrack

DealerTrack is a leading provider of on-demand software and data solutions for the automotive retail industry in the United States. DealerTrack utilizes the Internet to link automotive dealers with banks, finance companies, credit unions and other financing sources, and other service and information providers, such as the major credit reporting agencies. DealerTrack has established a network of active relationships with more than 21,000 automotive dealers, including over 80% of all franchised dealers; more than 200 financing sources, including the 20 largest independent automotive financing sources in the United States and nine captive financing sources; and a number of other service and information providers to the automotive retail industry. DealerTrack's credit application processing product enables dealers to automate and accelerate the indirect automotive financing process by increasing the speed of communications between these dealers and their financing sources. DealerTrack's integrated subscription-based software products and services enable automotive dealer customers to receive valuable consumer leads, compare various financing and leasing options and programs, sell insurance and other aftermarket products, document compliance with certain laws and execute financing contracts electronically. More information on DealerTrack is available at http://www.dealertrack.com/.

About Equifax Enabling Technologies

APPRO LoanCenter Consumer is part of Equifax's Enabling Technologies suite of decisioning solutions. Equifax's application processing, loan origination, credit risk and cross-sell solutions empower front-line employees to make better decisions. Working with Equifax Enabling Technologies, companies can gain more new, profitable customers and drive more business from their existing portfolios. For additional information about APPRO solutions, visit http://www.approsystems.com/.

About Equifax Inc. (http://www.equifax.com/)

Equifax Inc. is a global leader in turning information into intelligence. For businesses, Equifax provides faster and easier ways to find, approve and market to the appropriate customers. For consumers, Equifax offers easier, instantaneous ways to buy products or services and better insight into and management of their personal credit. Equifax. Information that Empowers.

Caution Concerning Forward-Looking Statements

Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Future events, risks and uncertainties, individually or in the aggregate, could cause our actual results to differ materially from those expressed or implied in these forward-looking statements. Those factors include, but are not limited to, changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for Equifax's products and services, our ability to develop new products and services, pricing and other competitive pressures, risks relating to illegal third-party efforts to access data, risks associated with the integration of acquisitions and other investments, changes in laws and regulations governing our business, including the cost of compliance with the Fair and Accurate Credit Transactions Act and federal or state responses to identity theft concerns, and certain other factors discussed under the caption "Risk Factors" in the Management's Discussion and Analysis section of Equifax's Annual Report on Form 10-K for the year ended December 31, 2004, and in our other filings with the SEC. Equifax assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.

(Photo: http://www.newscom.com/cgi-bin/prnh/20060224/CLF037LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com