Equifax Named to 2025 AIFinTech100 List for Approach to Explainable AI

In recognition of its patented AI technology and explainable, ethical and responsible AI use, Equifax was named to FinTech Global's AIFinTech100 list for 2025. FinTech Global is the world's leading provider of FinTech information services, B2B media products and industry events. Their annual list recognizes the world's most innovative AI solution providers for financial services selected by a panel of industry experts and analysts.

Equifax is committed to AI innovation, leveraging more than a decade of pioneering work in the field and a $3 billion investment in the Equifax Cloud™ over the last seven years to reshape the financial services landscape. In recent interviews, Raghu Kulkarni, Chief AI Officer, and Jake Osborne, SVP and GM of Fintech and Payments, shed light on the company's strategic AI initiatives, emphasizing trust, ethics and expanded financial opportunities.

"Ensuring ethical and responsible AI is paramount, especially given the sensitive nature of financial data" Kulkarni said. "Explainability is one of the central commitments of EFX.AI, and it's important in ensuring that decisions assisted by AI are fair, ethical and understandable." Unlike "black box" generative AI, patented AI techniques from Equifax are designed to ensure explainability, which helps reduce bias and aligns with the company's purpose of helping people live their financial best.

The Equifax commitment to AI innovation is evident in its extensive intellectual property portfolio, with more than 300 issued and pending patents supporting its AI approach. Osborne highlighted the 10th anniversary of the company's patented approach to Explainable AI, stating, "We recognized early that the future of our industry is AI-driven insights, and we designed the Equifax Cloud and our custom data fabric accordingly." He further emphasized their ability to rapidly deploy the latest explainable and regulatory-compliant AI algorithms at scale, likening their operation to an "AI factory" built on the Equifax Cloud.

AI has fundamentally transformed the organization's ability to derive deeper insights from its vast data assets. By leveraging EFX.AI with proprietary data assets like telco, utility and specialty finance data, Equifax helps lenders make more informed decisions and expand financial opportunities. "With EFX.AI every insight is more impactful - turning data into a competitive advantage," Kulkarni noted. This also accelerates the journey from model development to deployment and enhances identity resolution through patent-pending technology that ensures data security and privacy.

A key area of impact is financial inclusion. Equifax is not just utilizing AI, but alternative data to broaden access to credit for diverse populations. Kulkarni cited the company's OneScore consumer risk score, which leverages EFX.AI and integrates traditional credit data with alternative data sources. "Leveraging alternative data could move 8.4 million more consumers who have thin or no traditional credit files into scorable credit bands," he explained. This additional visibility can create increased access to essential financial services.

Ultimately, both Kulkarni and Osborne agree that AI is reshaping the landscape of financial decision-making, leading to faster innovation, higher personalization, proactive insights and a more financially inclusive system. "While many others are still experimenting, Equifax is building on a strong history of responsible AI innovation to help our partners act with the speed and clarity they need today," Osborne concluded.

Learn more about how Equifax continues to set the standard in responsible, explainable AI use.