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Equifax and United Utilities partner to streamline eligibility for social tariffs

By Joy Dumasia

July 09, 2021

  • Equifax
  • Europe
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Equifax UK, the business and consumer insights expert, has partnered with the water company, United Utilities, providing a first-of-its-kind accurate time income verification tool to streamline eligibility for reduced-rate social tariffs.

The tool automatically detects income levels and evidence of benefit payments by accessing the applicant’s bank account data and sharing these insights with United Utilities in real-time so that the whole process can be approved during the call.

This bypasses the need for lengthy manual processes involving paper documentation and reduces back and forth communications between United Utilities and its customers, providing a more seamless user experience. The digital platform is bolstered by leading Equifax anti-fraud protection, enabling United Utilities to build a more secure, efficient and quicker end-to-end process.

Water companies, including United Utilities, are required to ensure a minimum of 7% of households are offered a social tariff and work to identify potentially financially vulnerable customers who meet these criteria. United Utilities is the only water company to gain regulatory approval to increase the scale and scope of its social tariff.

Jayadeep Nair, Chief Product & Marketing Officer at Equifax UK, said: “This unique product is a prime example of how Open Banking technology can be harnessed for societal good. The pandemic has disproportionately affected people in receipt of benefits or with low incomes, and any relief they can receive at this time will go a long way. Our automated solution brings more order, speed and precision to applying for social tariffs, and that’s good news for both United Utilities and their end customers.”

Recently, IBS Intelligence reported that Equifax, a global data, analytics, and technology company, has announced the promotion of Lisa M. Nelson to President of Equifax International, saying directly to CEO Mark W. Begor and serving on the company’s senior leadership team.

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