Equifax (EFX) risk factors, FY2024 10-K

Technology and Data Security Risks

1. 01If we fail to achieve and maintain key industry or technical certifications, our customers and business partners may stop doing business with us and we may not be able to win new business, which would negatively affect our revenue
2. 02The failure to realize the anticipated benefits of our technology transformation could adversely impact our business and financial results
3. 03The loss of access to credit, employment, financial and other data from external sources could harm our ability to provide our products and services
4. 04Negative changes in general economic conditions, including interest rates, the level of inflation, unemployment rates, income, home prices, investment values and consumer confidence, could adversely affect us
5. 05Our markets are highly competitive and new product introductions and pricing strategies being offered by our competitors could decrease our sales and market share or require us to enhance our products and services or reduce our prices in a manner that reduces our revenue and operating margins
6. 06If our relationships with key customers and business partners are materially diminished or terminated, our business could suffer
7. 07If we do not introduce successful new products, services and analytical capabilities in a timely manner, or if the market does not adopt our new services, or if new technologies are introduced by competitors that are more effective or at lower costs than ours, our competitiveness and operating results will suffer
8. 08We may face risks associated with our use of certain artificial intelligence and machine learning models and systems
9. 09The demand for some of our products and services may be negatively impacted to the extent the availability of free or less expensive consumer information increases
10. 10If our government contracts are terminated, if we are suspended from government work, or if our ability to compete for new contracts is adversely affected, our business could suffer
11. 11Our business has been and may continue to be negatively impacted by health epidemics, pandemics and similar outbreaks
12. 12Our reputation and/or business could be negatively impacted by ESG matters and/or our reporting of such matters

Operational Risks

1. 13Our use of cloud-based and other technologies that are outsourced to third parties could expose us to operational disruptions
2. 14Our customers' decisioning may be adversely affected if we provide inaccurate or unreliable data, which could adversely affect our financial condition, cause loss of customer trust and contribute to non-compliance with certain laws and regulations
3. 15Dependence on outsourcing certain portions of our operations may adversely affect our ability to bring products to market and damage our reputation. Dependence on outsourced information technology and other administrative functions may impair our ability to operate effectively
4. 16Our business will suffer if we are not able to retain and hire key personnel
5. 17Economic, political and other risks associated with international sales and operations could adversely affect our results of operations

Legal and Regulatory Risks

1. 18and new business practice commitments, which, depending on the amount and type, could have a material adverse effect on our financial condition
2. 19The CFPB has supervisory authority over our U.S. business and supporting operations and may initiate enforcement actions with regard to our compliance with federal consumer financial laws
3. 20Regulatory oversight of our contractual relationships with certain of our customers may adversely affect our business
4. 21We are regularly involved in claims, suits, government investigations, enforcement actions and other proceedings that may result in adverse outcomes
5. 22Third parties may claim that we are infringing on their intellectual property and we could suffer significant litigation or licensing expenses or be prevented from selling products or services
6. 23Third parties may misappropriate or infringe our intellectual property and we may suffer competitive injury or expend significant resources enforcing our rights

Financial Market Risks

1. 24A downgrade in our credit ratings could increase our cost of borrowing under our credit facilities and have an adverse effect on our ability to access the capital markets
2. 25Our retirement and post-retirement pension plans are subject to financial market risks that could adversely affect our future results of operations and cash flows