Equifax and IBM Expand Alliance To Asia Pacific Market

ATLANTA and SINGAPORE, October 21, 1996 -- Equifax and IBM have announced their second alliance -- this one focusing on the Asia Pacific region -- to provide computer, management and software solutions to support the growing use of credit and debit cards around the world.

The combined efforts of the two companies will make it possible for financial institutions and other card issuers to issue credit and debit cards and manage both their "front" and "back office" card operations.

This marketing alliance focusing on Asia Pacific, where growth in credit and debit card use is surging, follows an initial agreement announced in January for Europe, the Middle East and Africa.

The alliance brings together IBM's expertise in technology, systems integration, support and implementation services with Equifax’s card industry skills, financial services and leading mainframe and UNIX-based card processing software systems.

As a result, IBM’s sales force, which specializes in technology solutions for financial institutions, now will be able to offer customers a total card software solution. That solution will be jointly supported by IBM and Equifax specialists.

"The use of credit and debit cards is increasing dramatically through Asia Pacific," said Kent Price, General Manager of IBM’s Banking, Finance and Securities industry unit for Asia Pacific. "This alliance with Equifax adds an important piece to our comprehensive range of solutions in payment systems and throughout the finance industry.

"IBM and Equifax will bring together core products and skilled resources to provide our customers with card processing services and solutions, based on the latest technology and open platforms."

"This is the second, and a big, step in setting in place our international strategy of offering total solutions around the world to card issuers, including those who want to upgrade their systems and those entering the market for the first time," said Thomas F. Chapman, Equifax executive vice president. "We’re offering an unmatched range of decision-support options now in Asia and around the Pacific Rim."

IBM is the world-wide leader in providing technology solutions to financial institutions, with a vast majority of the leading banks and financial services companies using IBM technology and services. IBM’s Banking, Finance and Securities group works with customers around the world to provide comprehensive solutions incorporating hardware, software, services and consulting.

Equifax, through its FBS Software subsidiary, is a leading global provider of software for the management of credit and debit card processing operations including issuer, collections and acquirer operations. The company’s software products are used by major companies around the world, such as Chase Manhattan in the United States; Canadian Imperial Bank in Toronto, and Westpac Banking Corp. in Sydney, Australia, as well as by Equifax Card Services, one of North America’s leading providers of credit card se rvices.

Equifax Inc. (NYSE: EFX), committed to Global Information Leadership in the Information Age, is the leading provider of information services that help grant credit, authorize and process credit card and check transactions, insure lives and property and control healthcare costs. Established in 1899 in Atlanta, Equifax today employs 14,000 people throughout North and South America, the United Kingdom and continental Europe. Revenues for the 12 months ended September 30, 1996, exceeded $1.7 billion.