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Equifax Offers Comprehensive Suite of Solutions to Help Lenders Navigate Motor Finance Redress

By Dominic Sow · 16 December 2025

Equifax UK introduces motor finance redress solutions to help lenders manage FCA motor finance compensation requirements using historical data, identity verification, and fraud prevention tools.
Equifax UK is offering a comprehensive suite of motor finance redress solutions that will provide motor finance lenders with the key data and tools to efficiently manage the Financial Conduct Authority’s (FCA) proposed motor finance redress scheme. With up to 14 million finance agreements potentially eligible for compensation and a possible 17-year look-back period requiring data that firms may no longer hold, lenders are under pressure to prepare for significant operational challenges. These new and existing Equifax solutions are engineered to help lenders meet motor finance obligations efficiently and compliantly, leveraging unparalleled Equifax data assets and access to over 34 million motor finance accounts. The solutions directly tackle critical pain points that could otherwise overwhelm existing processes, such as closing historical data gaps for older agreements, helping trace addresses for eligible consumers who have moved, as well as mitigating the threat of fraud and validating that compensation payments are made to the intended recipient. The Equifax motor finance redress solutions suite includes:
  • Proactive analytics: To help lenders understand the potential scale of claims and data changes, supporting early preparation.
  • Auto Loans Locate: Providing access to detailed historical motor finance agreement information to plug data gaps for older agreements.
  • Positive Trace and Contact Refresh: To find addresses of consumers who have moved, changed names, or both, and provide up-to-date contact details vital for fulfilling potential regulatory requirements to proactively contact eligible consumers.
  • Identity verification solutions: A multi-layered approach to verify claimant identities, dynamically adjusting friction based on risk scores to prevent fraudulent claims and protect against the inherent threat of redress-related fraud.
  • Bank account verifier: Ensures compensation payments are made securely and accurately to the correct individual, mitigating payment fraud.
David Bernard, General Manager at Equifax UK & Ireland said: “The potential scale and complexity of the FCA’s motor finance consumer redress scheme presents a significant challenge for lenders seeking to balance new proposed regulatory requirements with operational protection. Firms are grappling with the possibility of a large number of claims, historical data gaps, and out of date data, with industry analysis suggesting nearly half of consumers1 may no longer reside at the address held by the lender. “Equifax has the most comprehensive dataset of motor finance agreements in the market. We are committed to supporting lenders with their proactive identification and compensation of eligible consumers, and our comprehensive product suite helps directly address core redress pain points with the data and tools that are essential to confidently manage this process, minimise costs, protect lenders from fraud risks, and effectively meet proposed future regulatory obligations.” The UK regulator closed its consultation on redress scheme proposals on 12 December 2025, with the final rules of the redress scheme expected to be published in February/March 2026.

Companies in this story: Equifax

People in this story: David Bernard

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