700Credit, Equifax Partner on Pre-Qualification Solution

FARMINGTON HILLS, MICH. — 700 Credit LLC announced a collaboration with Equifax for their QuickQualify web-based platform. QuickQualify Xpress was designed to use Equifax identity data and uniquely differentiated data sources to automatically prefill applications, which reduces keystrokes for a more frictionless customer experience.

“QuickQualify Xpress is a natural evolution of our soft-pull technology,” said Ken Hill, managing director of 700Credit. “Our QuickQualify platform was the first step in reducing the amount of data consumers need to provide before a soft-pull could be executed. QuickQualify Xpress further minimizes the data required for pre-qualification, enhancing their experience with the platform. 80% of consumers are shopping from a mobile device before they enter the dealership. This tool makes it even simpler for a consumer to start the pre-qualification process.”

QuickQualify Xpress asks only for a ZIP code and last four digits of the consumer’s SSN, before automatically populating the consumer’s demographic information. In the mobile environment, QuickQualify Xpress helps mitigate risk by authenticating the user’s identity before requesting further information, all according to the announcement.

“Generation Z has only known a digital world, and they are predicted to outnumber Millennials this year,” said Lena Aksan, vice president of enterprise alliances for Equifax. “This collaboration with 700Credit will help dealers stay current with today’s buyers by simplifying digital interactions, providing instant identity results and minimizing the frustrations often associated with digital abandonment. Collectively, the convergence of data, analytics and technology can improve dealer outcomes across the digital interaction ecosystem.”