Equifax is a Credit History Bureau, a huge database of citizens who have ever used the credit services of banks and micro-finance organizations. The company operates in full compliance with the norms of legislation, but it is a commercial organization. Equifax provides information to banks on a fee basis.
Banks evaluate potential borrowers based on several criteria, one of which is credit score. The higher it is, the more likely you are to be approved for a loan. A credit rating is a system for evaluating a borrower, an indicator of his or her trustworthiness. Calculated based on information on loans ever granted, rejections, arrears, and delinquencies. This data is stored in credit history bureaus. Credit bureaus (CBIs) provide services for the generation, processing, and storage of credit histories, as well as for the provision of credit reports and related services.
Credit reports are produced by credit information agencies or credit reference agencies. There are more than 20 of them, but most of the world’s financial organizations work with the “big three” major agencies (CRAs) – Equifax, Experian, and TransUnion. The oldest of them is the American company Equifax, which has more than one hundred years of history and a staff of 15,000 people. Equifax collects and processes information on more than 800 million individuals worldwide.
The BCI is not limited to working only with banks and micro-finance organizations, it also works with other companies: pawnshops, credit brokers, and leasing service providers, and actively cooperates with collection firms, insurance companies, and financial managers.
What is Equifax?
Equifax is the name of a credit bureau headquartered in Atlanta and founded in 1899. It is considered one of the three largest U.S. credit bureaus, along with Experian and TransUnion. The company has the credit histories of more than 800 million customers from 24 countries.
In terms of visual identity, Equifax is super stable and traditional. As of 2024, the company keeps using its bold yet simple logo, designed for the BCI in 1975. And this stability in branding only evokes a sense of confidence and trustworthiness in the organization.
The Equifax logo, introduced in the middle of the 1970s, is executed in a sleek and elegant burgundy color palette, which looks traditional and stands for excellence and quality. The badge features just one element, bold slanted lettering in a geometric sans-serif typeface, with an interesting cut-out next to the tail of the “Q”. This small element adds uniqueness and sharpness to the whole badge. The wordmark can be seen in different variations: written in burgundy against a transparent background; written in white on a burgundy banner; enclosed into a solid white circle on a burgundy surface.
The bold uppercase lettering from the primary logo of Equifax is set in a modern geometric sans-serif typeface, which looks pretty close to such commercial fonts as Universreg Next or PODIUM Sharp, with the modified contour of the “Q”.
As for the color palette of Equifax’s visual identity, it is composed of burgundy and white, a combination, that represents stability, strength, excellence, and trustworthiness.