Early AI Gains Prompt Equifax to Double Savings Forecast to $150 Million

After seeing early productivity gains from its implementation of artificial intelligence and agentic-based solutions across its internal processes, Equifax doubled its forecast of the cost savings it expects to see over the next three years, according to a presentation released Tuesday (July 21) in conjunction with the company’s second-quarter earnings call.

Equifax CEO Mark W. Begor said during the earnings call that the $150 million in run rate spending savings that the global data, analytics and technology company now expects to see from 2026 to 2028 is double the estimate it announced in February.

“The pace of adoption is ramping very quickly and delivering big productivity lifts in every corner of Equifax,” Begor said.

Equifax has implemented AI and agentic-based solutions across product development, technology, operations, and support functions such as human resources, legal and finance. It has seen these solutions drive speed, accuracy, productivity and margin expansion, according to the presentation.

The company has seen conversational AI in call centers improve customer authentication and fulfillment rates, AI-assisted processes decrease back-office dispute handling times, and AI deliver “early but big benefits” in software development, IT operations, cybersecurity and cloud cost optimization, Begor said during the call.

“We are super energized about the pace of our AI adoption inside Equifax, but we know that we are in the very early innings of our rollout,” Begor said. “We are confident there is significantly more opportunity to both grow revenue and reduce costs as AI and agentic capabilities become fully embedded across Equifax.”

Meanwhile, Equifax said in a Tuesday earnings release that its planned acquisition of Círculo de Crédito, which it described as the fastest-growing credit bureau in Mexico, for an enterprise value of $750 million is expected to close in the fourth quarter.

The company announced in a July 7 press release that it plans to acquire Círculo de Crédito, a credit information services company that is a leader in alternative data, such as gig economy transactions and utility and telecommunications payment history. Equifax signed a definitive agreement for the acquisition, which is subject to customary closing conditions and regulatory review and approval.

“This alternative data can responsibly expand access to credit and support a more inclusive economy, critical in a country where nearly 33 million people are engaged in an informal employment, such as unregistered microbusinesses or gig employment,” Begor said during Tuesday’s earnings call.

Equifax announced in a June 30 press release that t it added 39 new global patents during the first half of the year. The patents feature innovations in explainable AI that turn complex data into transparent insights; enhanced identity verification and fraud detection; and multi-system data integration that unifies data from more than 100 siloed data sources. These new additions expanded Equifax’s portfolio of issued or pending patents to more than 750.

“Equifax is accelerating a strategy to utilize AI and agentic capabilities to improve our customers’ ability to utilize Equifax data and advanced technology to improve their decisions by incorporating more data and more effective AI-defined algorithms, using patented capabilities that deliver explainable results to our customers,” Begor said during the call.

For all PYMNTS AI coverage, subscribe to the daily AI Newsletter .