USA Report - Midwest Edition

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TransUnion sets eyes on high-growth markets of Asia-Pacific

PUBLISHED : Monday, 29 February, 2016, 5:02pm
UPDATED : Wednesday, 23 March, 2016, 5:09pm

Businesses, government agencies and consumers worldwide are increasingly recognising the value of using data and analytics to make more informed decisions and manage risk more effectively.

With its long track record in credit reporting and information management, TransUnion is strategically positioned to help accelerate the growth of analytics capabilities in developed and emerging economies.

The Chicago-headquartered publicly listed company has set its eyes on expanding its foothold in the developing markets of the Asia-Pacific region, with populations in these economies becoming more credit active. "There's significant growth potential for us in Asia-Pacific," says James Peck, president and CEO. "Demand for credit in the region is increasingly driven by a rising middle class."

Building on its established operations in Hong Kong, TransUnion expanded into Thailand, Singapore, Malaysia, China, Vietnam, India, Indonesia and the Philippines.

Launched in 1982, the company's Hong Kong credit bureau today serves as the primary supplier of data and value-added solutions, such as CreditVision, to the top 10 banks in the city. In the Philippines, TransUnion is helping lenders extend new credit to 17,000 Filipinos every month.

TransUnion has built a global presence that spans more than 30 countries across North America, Africa, South America and Asia. Depending on the maturity of the credit economy in each country, its offerings may include credit reports, analytics, identity management, decisioning and other value-added risk management services.

With its wealth of experience and differentiated solutions backed by next-generation technology, TransUnion has earned the trust of many of the largest banks, credit card issuers, vehicle insurance carriers and health care providers. It also helps millions of consumers better understand and leverage their credit health by providing tools that allow them to manage their financial reputation.

"In line with our 'information for good' philosophy, our data and analytic solutions are progressively being used for law enforcement purposes to enhance public safety," Peck says. "This is remaining true to our broader goal of uplifting people's quality of life."