Today, PeerIQ announced a partnership with information solutions provider TransUnion. PeerIQ is known for its data and analytics capabilities in...
The fraud landscape is constantly changing and evolving with things like synthetic fraud increasing the costs consumers, businesses and governments are paying; synthetic identities are identities which are not tied to a real person; according to Pat Phelan from TransUnion, fraudulent transactions are currently costing the US $50 billion per year; Phelan talks with PYMNTS.com about some of the factors companies should consider when managing fraud and how businesses are managing fraud prevention programs overall. Source
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.
Reliable off-chain credit scoring on the blockchain provides better service and attracts participants to DeFi.
On Tuesday, TransUnion launched TruValidate Device Risk to reduce false positive applications that the firm said cost businesses billions.
The Consumer Financial Protection Bureau (CFPB) has fined TransUnion and Equifax over $23.2 million for deceptively advertising services; the agencies reportedly advertised credit services costing customers over $200 as free and misled customers about the use of credit reports they obtained; according to the CFPB, TransUnion will pay $13.93 million to consumers and a $3 million fine while Equifax will pay $3.8 million to consumers and a $2.5 million fine. Source
Quoting data from Transunion the Wall Street Journal is reporting that 106 million loans have been enrolled in forbearance, deferment...
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
TruVision Consumer Property Insights for Portfolio Management protects borrowers and lenders through a holistic view of property value fluctuation risks.
Online lending appears to be driving increased personal loan borrowing from millennials; data from TransUnion says 4.33% of millennials obtained a personal loan in 2015 and online lenders accounted for approximately 30% of the personal loan market last year; TransUnion also reports that millennials are more conservative about credit card debt with two fewer cards on average than the previous generation. Source