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Press Releases

FOR IMMEDIATE RELEASE

Survey for TransUnion Explores Big Data and Analytics

EVANSTON, IL—September 8, 2016—TransUnion today released findings from a new survey it commissioned with Versta Research about big data and financial analytics among lenders. The survey was designed to assess current analytics capabilities among lenders, and how they use data for competitive leverage in today’s consumer lending marketplace.

“As in previous research we conducted for TransUnion, the challenge of this work lay in the complexity of the topic combined with the audience we needed to reach,” said Joe Hopper, president of Versta Research. “Everyone talks about data and analytics, but it is hard to nail down what those words mean in specific contexts for decision making. The survey needed to tell a simple and direct story about where lenders are excelling and where they are falling short in their efforts to grow and build strong lending portfolios.”

The survey of 309 lenders was conducted in early 2016, and included risk, compliance, lending, finance, marketing, and analytics executives and managers responsible for optimizing safe growth. Key findings include:
  • Two-thirds of lenders (66%) say data and analytics are evolving faster than their internal capabilities
  • Three-quarters of lenders (73%) say their analytics capabilities (or lack thereof) affect their ability to compete
  • Three-quarters of lenders (74%) believe it is difficult to grow their portfolios without increasing risk
  • Seven out of ten lenders (70%) wish they had direct, immediate, self-service visibility into their analytics
Findings are highlighted in an interactive infographic about big data and financial analytics among lenders on the TransUnion website, with the full report available for download.

About Versta Research
Versta is a firm specializing in customized market research and public opinion polling. It helps clients understand their customers, prospects, and competition with expertise and academic brainpower. And it helps clients communicate that research to managers, clients, reporters, and the audiences they need to reach. For more information please visit www.verstaresearch.com.

About TransUnion (NYSE: TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide. We call this Information for Good. www.transunion.com/business.

Contact:
Versta Research
(312) 348-6089