ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Intelligence, Insight and community for responsible professionals in credit

TransUnion launches trended data in the UK

Credit reference agency TransUnion has launched a trended data product in the UK market for the first time, it has confirmed to Credit Strategy.

Trended data is view of consumers’ credit data over time, so in the case of two people who have similar, or the same, scores, you can see whose is improving and whose is getting worse.

 

In 2018, Credit Strategy – in collaboration with TransUnion – conducted research to gain vital insight into technological developments and areas of focus across four key sectors, including utilities and telecoms, banking and alternative lending, retail finance and car finance.

 

Cumulatively across the four sectors surveyed, 81 percent of respondents felt that trended data has a role to play in their offering to clients.

 

Will North, TransUnion’s director of core credit, said the trended data product, TrueVision, “allows us to identify consumer behaviours not previously possible”.

 

The platform comprises a score, over 2,000 attributes and algorithms and compresses trended and alternative data into a summarised view with different components.

 

He added: “These include spend behaviours, wallet shares, balance magnitude movements and payments behaviour, all of which are combined to try and understand the consumer’s future behaviour. In the US for example, we have been able to score 26 million more consumers and have helped banks identify upwards of 23 million more consumers as super prime.”

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group