Equifax, Inc. · NYSE:EFX
Equifax — Beyond Delinquencies: Proactive Portfolio Management in the Auto Lending Lifecycle webinar (August 2024)
17 slides from Equifax's conference presentation, Aug 28, 2024
Slide 1: Beyond Delinquencies: Proactive Portfolio Management in the Auto Lending Lifecycle
Webinar | Beyond Delinquencies: Proactive Portfolio Management in the Auto Lending Lifecycle August 28, 2024 \/
Slide 2: Thanks for joining our webinar
Thanks for joining our webinar Welcome! Questions? Recording Thank you for joining our Please enter your questions This webinar is being webinar. Stay tuned for in the chat box on your recorded. You will receive an more from Equifax screen at any point during email with a link to view the Verificatio
Slide 3: Critical items we'll discuss today
Critical items we’ll discuss today The hidden costs of reactive lending Key elements of proactive portfolio management How real-time data can transform your strategy PROPRIETARY | 3
Slide 4: Industry Trends - Balance Details
Industry Trends - Balance Details PROPRIETARY | 4
Slide 5: Non-Mortgage Debt: Auto and Credit Card now make up larger portions of consumer's debt
Non-Mortgage Debt: Auto and Credit Card now make up larger portions of consumer’s debt PROPRIETARY | 5
Slide 6: Auto Trends - Auto Loans and Leases remain flat while consumer balances continue to rise
Auto Trends - Auto Loans and Leases remain flat while consumer balances continue to rise Number of Accounts in Millions; NSA PROPRIETARY | 6 Balances in $Billions; NSA
Slide 7: Industry Trends - Delinquency Details
Industry Trends - Delinquency Details PROPRIETARY | 7
Slide 8: Auto Industry Trends - Severe Delinquency Rate (60+DPD)
Auto Industry Trends - Severe Delinquency Rate (60+DPD) While delinquency rates have lowered in recent months, they are still at elevated levels which we have not experienced in over 10 years PROPRIETARY | 8
Slide 9: Poll: greatest challenges currently experienced
Poll 1 What are the greatest challenges you are currently experiencing? (Allow for multiple select) A. High delinquency/charge-off B. Tightened credit lending standards C. Cost of funds D. Resources / operating expenses E. Affordability PROPRIETARY | 9
Slide 10: The Work Number provides value throughout the auto lending journey
The Work Number provides value throughout the auto lending journey Portfolio management Income and employment verification should be crucial to your account review, At application segmentation and account recovery Begin to build processes. relationships with tomorrow’s best customers At approval Low
Slide 11: Poll: how frequently do you review your loan portfolios
Poll 2 How frequently do you currently review your loan portfolios A. Daily B. Weekly C. Monthly D. Quarterly E. Less frequently / never PROPRIETARY | 11
Slide 12: Employment status change and the potential impact on 90-days past due default rates
Employment status change and the potential impact on 90-days past due (DPD) default rates When a consumer’s employment status changes from active to inactive, there is a 64% increase risk of delinquency.* *SOURCE: Equifax Data Study of The Work Number Database and Equifax credit database, Oct-2020 t
Slide 13: Gain certainty with consumer financial capacity measures
By leveraging actionable insights, streamlined processes, and enhanced verification capabilities, you can feel empowered to efficiently manage portfolios, verify employment details accurately, and implement targeted strategies, potentially reducing charge-offs and ensuring financial stability. Gain certa
Slide 14: Proactively monitor accounts helping to better manage your portfolio
Proactively monitor accounts helping to better manage your portfolio. Maximize your loan portfolio Help manage your portfolio Proactively by understanding a Monitor Consumer insights with consumer’s employment and income information Be the first to know when a The Work Number change in a consumer’s r
Slide 15: Questions?
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Slide 16: Thank You
Thank You Do you have the proactive data you need to accurately evaluate your portfolios? With rising delinquencies and evolving borrower behavior, reactive lending strategies can put your portfolios at risk. It’s time to adopt a proactive approach to identify and mitigate risk before it impacts you
Slide 17: Next Steps: Survey, Contact, Connect
Next Steps 1 SURVEY 2 CONTACT 3 CONNECT Complete the survey Want to talk to someone about your Subscribe to Verification Views for through the webinar portfolio review processes? Click on updates: console the “Want to Get In Touch” button on https://theworknumber.com/blog your webinar console or cont