Focusing on new ways to reduce lending risks, TransUnion announced TrendInsight, a first of its kind solution in Hong Kong to help lenders anticipate and predict consumer spending and payment behaviors.

Through TransUnion’s TrendInsight and its robust credit information and analytics, lenders have more predictive data to tailor offers to customers that best fit their attitudes and behaviors toward credit and debt payment. With TrendInsight, businesses can quickly react to a specific consumer event such as a new inquiry or tradeline. It also helps businesses to be more proactive by anticipating changes in patterns of activity for credit scores, increases in credit inquiries or credit utilization. The solution helps maximize return on investment in the collections arena with accurate contact information and delinquency data to help securing past-due payments.

“TransUnion’s TrendInsight provides lenders with a new level of confidence in accessing and predicting payment risks based on consumer behaviors,” said Lawrence Tsong, president of TransUnion’s East Asia operations. “TrendInsight helps improve performance throughout the customer lifecycle to effectively mitigate risks, quickly locate customers, prioritize collections accounts, anticipate customer behavior and build loyalty with them.” TransUnion’s TrendInsight can be implemented with its Portfolio Review to analyze debt portfolios by credit risk model score band. This helps to evaluate the risk presented by each customer in the portfolio at that point in time and determine the best appropriate actions.   Source: TransUnion Press Release

BIIA Newsletter November 2008 Issue