EQ is delighted to announce that its risk management business, EQ Riskfactor, has been awarded a contract with Eagle Business Credit, the Atlanta-based factoring company which launched in 2013 and provides flexible funding solutions for small businesses.
EQ Riskfactor will provide Eagle Business Credit with its proven risk management and analytics software. The software is built especially for the invoice finance and asset based lending market and uses unique risk algorithms to detect and prevent fraud by identifying suspicious behavior.
Eagle Business Credit marks the eleventh North American business win for EQ Riskfactor, following the appointment of Leigh Lones to head up the U.S. division in July. It continues EQ Riskfactor’s ongoing international strategy to take its specialist products outside of the UK which has been a success in 2018 after winning its first ever Canadian client, Baron Finance, and partnering with Efcom to sell into the German market.
EQ Riskfactor has twenty years of experience and is recognized as a leader in the market, with 90% of U.K. commercial lenders using their risk management software. EQ Riskfactor combines their risk expertise, unique risk algorithms and software capabilities into a compelling risk proposition for U.S. commercial lenders, with plans to replicate their U.K. success.
Aaron Hughes, Managing Director at EQ Riskfactor, commented:
“We are very excited to have been awarded this contract by Eagle Business Credit. It is great to have another U.S. client on board and we have a strong pipeline for 2019. Our technology has been very well received in the U.S. and it is rewarding to see it making a positive impact on new clients.”
“As well as detecting fraud the software will help Eagle Business Credit to improve the overall efficiency of the business and ensure for the first time that they have access to real time information. This will revolutionise the way the teams manage their clients and help to minimise losses across the portfolio.”
“Our software already enhances the operating systems of many lenders in the industry and can be easily installed to work alongside their existing systems. I am delighted to welcome Eagle Business Credit into the EQ family and look forward to working with them in the future.”
Ian Varley, CEO at Eagle Business Credit, commented:
“I used EQ Riskfactor as a risk management tool for over ten years when I was at Bibby Financial Services so I know first-hand the benefits it will bring to our business. The ability to easily pinpoint potential issues before they become a major problem is critical for us to help prevent unnecessary losses.”
“We’ve been growing our portfolio at an impressive rate and this software will also help drive operational efficiencies, allowing us to scale the business and manage overheads as we continue to expand.”
Notes to editor:
Equiniti Group plc is a multinational specialist technology outsourcer providing non-discretionary payment and administration services to some of the world’s best-known brands and U.K.’s largest public-sector organizations.
It is the U.K..’s leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes. Equiniti’s services, which are delivered by over 5,000 employees, benefit 28 million people in the U.K. and 120 countries around the world.
EQ provides a range of transfer agent services that enable clients to manage share registers, communicate with shareowners and undertake significant corporate actions – simply and effectively. Established in 1929, EQ has offices in New York City and operations in Minnesota.
Formerly known as Wells Fargo Shareowner Services, EQ was purchased in 2018 by Equiniti Group plc, the U.K.’s leading provider of shareowner and associated investor services. EQ is proud to be part of an international organization that services 23 million shareholders and more than 1,200 clients worldwide.
About Eagle Business Credit
Eagle Business Credit, an Atlanta, Georgia based factoring company, was started in 2013 to provide flexible funding solutions for small business. Since commencement it has already helped hundreds of companies secure working capital funding to meet their daily cashflow needs.
In 2018 it was honoured with the Inc. 5000 award in recognition of being one of the nation’s fastest-growing
EQ (U.S. contact)
Tel: 651 306 4425
Temple Bar Advisory (U.K. contact)
Alex Child-Villiers / William Barker / Sam Livingstone
Tel: +44 (0) 207 002 1080