The Financial Data and Technology Association (FDATA) has today announced that Equifax has become its latest member. With one of the largest sources of detailed consumer and business data in the UK, Equifax can provide insight into the behaviours and drivers behind the economy helping its clients drive their businesses forward and consumers access the products and services they can reasonably afford.

FDATA's members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their accounts, credit cards, loans and investments, and it is currently engaged in assisting the CMA-mandated Implementation Entity to create a game-changing API.

Paul Birks, Chief Data and Analytics Officer at Equifax, said: “We’re excited to join FDATA and work alongside member companies to help consumers make better financial decisions. Equifax invests heavily in its own technology and has a strong history of working with other technology providers to ensure we support better outcomes for customers.

“Initiatives like Open Banking are excellent examples of changing consumer expectations when it comes to how financial services companies handle their personal information; the relationship between data and technology has never been more important. FDATA is one of the key industry bodies driving financial innovation, and we look forward to collaborating and pioneering new ideas in the fintech space.”

FDATA's Executive Director Andy Maciver said: "We're extremely pleased that Equifax has decided to join us. FDATA's intensive work on helping to create open banking through an open API has created synergies with so many areas of the financial services sector, from credit reference agencies to personal finance managers to challenger banks.

"Equifax will be a vital member of FDATA and we expect them to contribute hugely to our policy-making and base of knowledge, as we continue to influence the direction of open banking in the UK".