Equifax: Financial Durability Index

Provides a holistic view of a household’s likely financial resilience, even under financial stress

Description:

Financial Durability isn’t always obvious. A consumer may have the same credit risk profile, but differing levels of financial durability because traditional credit scores don’t tell you what’s in a consumer’s financial wallet. Financial Durability Index provides unique insight into households’ likely financial resilience — meaning how likely a household is able to keep spending, plus meet current and future financial obligations, even when under financial stress.

As a household-level scoring system, Financial Durability Index provides a 1 to 5 rating, with a 5 representing households that are the most financially resilient. The patent-pending Financial Durability Index model provides an indicator of financial resilience by analyzing the intersection of multiple financial capacity measures:

Affluence — based on a foundation of anonymous invested assets
Estimated total household income — based on income from wages, assets, business, and retirement funds
Spending power — discretionary funds available to spend, save, or invest, after accounting for fixed expenses of life
Aggregated credit — such as credit utilization and delinquencies

Financial Durability Index can be used for non-FCRA applications across the customer lifecycle. It can help marketers and risk managers differentiate consumers for acquisition efforts, inform pre-collections strategies, assist with treatment prioritization for delinquent accounts, and increase recovery for accounts in collections.

Fields Included:
Zipcode
Zip4
DPC
Financial Durability Index

Financial Durability Index can be bundled with our other financial capacity measures such as Ability to Pay Index™, Income360, Affluence Index™ or Spending Power™ to provide an even more granular view of household financial health and resilience.

About the Provider:

Equifax believes knowledge drives progress. We blend unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. We offer data and solutions across the customer journey, enabling business customers to discover market opportunities and trends, acquire and manage customers, and optimize recovery efforts.

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