Equifax brings in Amazon chief to boost open banking

jayadeepEquifax is aiming to beef up its “open banking” credentials by appointing Amazon payment chief Jayadeep Nair to be the firm’s chief product and marketing officer for the UK and Ireland.

Nair has been Amazon’s head of payment acceptance and experience since August 2016, responsible for developing new payment experiences for customers shopping on Amazon websites throughout Europe.

Prior to that, Nair worked at Barclaycard, Worldpay, Citigroup and American Express. He will be based at the data company’s London office and report to president for Europe Patricio Remón.

Remón said: “Jayadeep brings a wealth of experience and expertise to this role. His approach to product development and transformation in the evolving digital arena coupled with his experience of working with fintechs, particularly in the open banking space, will be extremely valuable. We look forward to Jayadeep’s leadership and fresh perspective to develop products that deliver for our partners and end users.”

His appointment coincides with the launch of a new credit risk index for the consumer lending sector which, it is claimed, allows financial institutions to more effectively understand consumers applying for credit products.

Equifax has linked with AccountScore for the index, which is based upon the transactional information found within a consumer’s bank account and takes advantage of the opportunities provided by open banking to develop new products in order to better understand consumers.

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