TransUnion will include ID Analytics' collections, credit and identity risk solutions in its portfolio of service offerings, the companies have announced.
ID Analytics' scores provide TransUnion customers with real-time information into consumers' fraud risk and creditworthiness across a loan's life cycle, including origination, portfolio management and collections. The two companies are jointly delivering a suite of solutions that reduce credit losses, improve collection efforts and reduce costs associated with fraudulent transactions.
ID Analytics' scores leverage the ID Network, a real-time, cross-industry compilation of identity information that includes data from over 1 billion consumer transactions and more than 2 million confirmed identity frauds.
‘Using ID Analytics' solutions, TransUnion customers have access to alternative sources of data that offer a unique perspective of consumer behavior and risk assessment,’ says Steve Sassaman, executive vice president of TransUnion's financial services group. ‘When used in conjunction with TransUnion scores, these solutions can help reduce companies' risk exposure by providing additional insight into consumers' stability – a measurement of the use of their credit and identity information.’
The solutions are currently offered in one of four ways: as an add-on to a TransUnion credit report, as an add-on to Collection Prioritization Engine, as a stand-alone report from TransUnion, or through prescreen and portfolio review reports sent directly from ID Analytics. ID Analytics' solutions are also available to TransUnion Direct self-service customers.