TransUnion added lending decision firms to its Strategic Alliance Distribution Partner Program, like the fintech Provenir and GDS Link.
Loan stacking has reportedly been influencing an increase in default rates for marketplace lenders; TransUnion has reported data on delinquency rates and online fraud; firm announced an expansion of its Fraud Prevention Exchange at LendIt USA to help mitigate online lending fraud and specifically loan stacking. Source
TransUnion has introduced a fraud solution for businesses; the firm will market IDVision, a comprehensive solution that uses advanced analytics technology to interpret and analyze transactions for fraud detection; the solution can identify and alert businesses of fraud at the time of transaction and also monitor portfolios for fraudulent activity. Source
On Tuesday, TransUnion launched TruValidate Device Risk to reduce false positive applications that the firm said cost businesses billions.
Research from TransUnion suggests that the Federal Housing Finance Agency’s (FHFA) move to a bi-merge system could significantly impact both consumers and lenders while providing little benefit.
Fiserv partnered with TransUnion to use their CreditVision Link software to help asses risk in their auto loan origination system; Fiserv is specifically looking to identify higher risk borrowers as they look to reach more of the underbanked; Steve Chaouki, executive vice-president and head of TransUnion’s financial services business unit, says the integration “enables lenders to score approximately 95% of the US adult population” as reported by Banking Technology. Source.
TransUnion’s innovation lab is entering its third year and is now planning to expand in Canada and India; participants get...
Credit reporting agency TransUnion has announced the launch of a new innovation lab with increase support for client data modeling through broader access to proprietary data and analytics experts; the innovation lab will allow clients to test new models and solve business problems with real time data empowering credit data platforms and solutions across the industry; many companies have already reported success in building new models, analyzing new markets and expanding into new products; the innovation lab is also uniquely positioned to integrate with TransUnion's startup lender development program providing support for new market launches. Source
TransUnion's latest quarterly study found most Americans could be experiencing a 'personal recession' with 54% stating their incomes were not keeping up with inflation.
A new TransUnion study has found that online fraudulent activity has increased 11% since the beginning of March; the report...