Equifax Business Groups To Assume International Responsibility

ATLANTA, January 3, 1996 -- Equifax today announced a change in its organizational structure designed to maximize its international development while improving customer service and product innovation.

The change positions all three of the corporation's business product groups -- Financial Information Services, Insurance Information Services and Healthcare Information Services -- to assume total responsibility for their respective international activities.

The most substantial impact in terms of a significant increase in responsibility falls on the Financial Information Services Group, headed by Thomas F. Chapman, executive vice president and group executive. Most of the services and technology offered today by Equifax outside the United States are Financial Information Services' products.

"This is a natural evolution," said Daniel W. McGlaughlin, Equifax President & CEO. "Three years ago, when we divided the corporation into the four groups of Financial Information Services, Insurance Information Services, Healthcare Information Services and International, we deliberately erected International as its own unit because it was a new strategic initiative.

"Today, it's time to place the product emphasis for international expansion with the group responsible for that arena," McGlaughlin concluded. "This should strengthen our international focus even more."

Equifax's international revenues have been increasing at a compound annual rate of 20 percent over the past seven years and now exceed $200 million a year. During the third quarter ending September 30, 1995, the most recent period reported, international revenues totaled $55.5 million.

Under the new organizational structure, announced by McGlaughlin just three days after he became Equifax's chief executive officer, each of the business product groups will be responsible for continued expansion of its services overseas.

That change certainly affects the Financial Information Services Group, not only because it's the largest group in the corporation but also because it already is the leading global provider of decision-support information to businesses involved in financial transactions with consumers. Financial Information Services operates the world's largest consumer credit information service and offers industry-leading processing and computer software support for credit card, debit card and check transactions.

Indeed, Equifax already is providing consumer credit or other financial support services to customers in various nations around the globe and those operations now will report to Chapman.

"This change is a logical one that brings those in Financial Information Services most responsible for developing new products and services closer to their customers around the world," said Chapman. "We already are deploying advanced products, services and technologies around the world and this will accelerate that effort. We are unifying our organization to truly provide a total solution to the financial transaction needs of our current and future customers."

The Equifax Insurance Information Services Group, headed by executive vice president Derek V. Smith, already is responsible for certain insurance operations outside the United States in Canada and the United Kingdom. Smith will continue to be responsible for additional international expansion by Insurance Information Services.

The Equifax Healthcare Information Services Group was established just 10 months ago and is concentrating on developing its domestic U.S. business at the moment. "But we also believe our healthcare solutions will have broad applicability overseas at the appropriate time," said Daniel J. Kohl, senior vice president and group executive.

"This change in responsibility will accelerate the rationalization of our products and technologies across the world," McGlaughlin concluded. "It also will allow us to provide an even higher level of service to our largest customers, those who operate outside U.S. borders today. But the biggest impact will be in the future, as we automatically factor in global possibilities in applying technology to new products."