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ATLANTA, August 27, 2001 - Equifax Inc. (NYSE: EFX), today announced that the U.S. Patent and Trademark Office has approved its application and issued Patent No. US 6,263,447 B1 covering a "System
and Method for Authentication of Network Users."
Consumer authentication is sold under the trade name eIDverifier™ by Equifax Secure, Inc., the e-commerce solutions division of Equifax. Unlike basic authentication methods that rely solely on wallet information to identify users online - such as name, address or driver's license number - eIDverifier requests both financial
and non-financial information that should be known only to the end user and Equifax, such as the amount of a car payment each month or the name of the mortgage lender. After the end user completes this interactive query
process, Equifax verifies that the individual is who he or she claims to be.
The newly issued patent covers systems and methods of authentication systems. Jennifer French, vice president, modeling, and Jone Wilder, director, quality assurance, are the co-inventors of the Equifax authentication system. Other patent applications are pending in this and other countries for other, but related, Equifax authentication processes.
"This patent approval recognizes our unique innovation and leadership in securing and mitigating the risks of online transactions," said Virgil
Gardaya, chief technology officer of Equifax. "With the increasing prevalence of ID theft and fraud, Equifax authentication offers our business
customers and their end users an unmatched financial value and peace-of-mind."
For Businesses
The eIDverifier process reduces the risk of losses from ID fraud and, through the immediacy of the process, reduces consumer drop out rates and
manual intervention. As an outsourced application, it can be deployed quickly with a minimal up front financial commitment. Among the leading companies that have selected Equifax to authenticate their end users are
eBay, CheckFree, and Fidelity Investments. Additionally, such companies as IBM, PricewaterhouseCoopers, VeriSign and eCredit.com are authorized resellers.
For Consumers
The eIDverifier process safeguards access to sensitive, private data. It increases the speed-of-access to secure online services, instills greater confidence in faceless
transactions and enables the creation of entirely new online categories. Currently, Equifax authentication enables immediate and secure access to a broad range of online services including auctions, banking, insurance, brokerage and personal credit management tools.
About Equifax Secure
Equifax Secure, Inc. (www.equifaxsecure.com), the e-commerce enabling business of Equifax Inc, provides security, privacy and transaction management solutions that protect consumers and enterprises from the risk
of identity theft and fraudulent transactions. Equifax
Secure authenticates online consumer identity and
secures business applicationsfor secure, private
e-commerce over the Internet and other networks.
About Equifax
Equifax enables and secures global commerce through its information management, consumer credit, marketing services, business information, authentication and
e-commerce businesses. As the leader in information
services, Equifax adds value wherever customers do business, including the financial services, retail,
telecommunications/utilities, information technology, brokerage, insurance and business lending industries and
government. Equifax also enlightens, enables and
empowers consumers to manage and protect their financial health with
services offered at www.equifax.com. The company ranked in the top five in return on equity
among Business Week's Best Performers for 2001. Equifax employs 6,600
in 13 countries and has $1.1 billion in annual revenue.
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Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these
statements. Those factors could include changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for the Company's products and services, risks associated with the integration of acquisitions and
other investments, and other factors discussed in the "forward-looking information" section in the
management's discussion and analysis included in the annual report on Form 10-K for the year ended December 31, 2000.
"Equifax" and "eIDverifier" are trademarks of Equifax Inc. and/or its affiliated
companies.
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