TransUnion Stock Price, News & Analysis

TransUnion's ResidentID® analysis indicates a significant rise in fraud red flags. In a recent report, the percentage of fraud triggers in rental applications surged nearly 30% from March to August 2020, hitting 15.2% in August compared to 10.3% the previous year. This trend has raised concerns among multifamily executives, with 48% reporting increased fraud incidents. To combat this, many have started implementing identity verification solutions, with case studies showcasing substantial cost savings from early fraud detection.

TransUnion (NYSE: TRU) announced that CFO Todd Cello will present at the Baird 2020 Global Industrials Conference on November 12, 2020, starting at 12:25 p.m. CST. The presentation will be available via live webcast on the TransUnion Investor Relations website, with a replay accessible afterward. TransUnion, a global information and insights company, aims to foster trust in the modern economy by providing a comprehensive understanding of individuals, facilitating confidence in transactions.

TransUnion (TRU) has launched a real-time service for lenders to access verified income and employment data to improve lending decisions. This new service aims to streamline the process for verifying consumer data, particularly in the context of economic challenges and rising unemployment. Initially, it will collaborate with a leading U.S. payroll provider, granting access to tens of millions of employment records, updated every pay cycle. The initiative marks TransUnion's entry into the income and employment verification market and aims to enhance consumer experiences in accessing credit.

TransUnion reported Q3 2020 results, achieving revenue of $696 million, a 1% increase year-over-year. Net income rose to $103 million, up from $92 million in Q3 2019. Adjusted EBITDA was $270 million, but declined by 4%. The company reinstated its full-year guidance, projecting revenue between $2.696 billion and $2.715 billion with modest growth. However, expectations for net income suggest a 4% to 8% decrease from 2019. TransUnion maintains a strong balance sheet with $554 million in cash.

TransUnion has released a study in collaboration with the Economist Intelligence Unit, demonstrating that 85% of global executives view frictionless digital transactions as vital for business survival. A significant 61% of respondents adapted their digital processes due to COVID-19, yet two-thirds faced glitches. The research also highlights that technologies like AI, biometrics, and national digital IDs can enhance fraud prevention and economic inclusion, with 70% of executives believing these initiatives aid lower-income access to essential services.

TransUnion reports that Arivo Acceptance has enhanced performance using the CreditVision Suite. Amid economic uncertainty, Arivo's use of TransUnion's data led to a 40% boost in application volume for same-dealership transactions. Following this, a second-generation model improved volume by an additional 20%. These data-driven insights significantly lower loan losses, enabling competitive offerings for subprime customers. The partnership exemplifies the efficacy of analytics in optimizing credit decisions and expanding access to financing.

TransUnion Healthcare conducted its second annual patient survey revealing a shift in healthcare consumerism driven by the COVID-19 pandemic. Key findings showed that 59% of patients deferred non-COVID-19 related care, while 49% felt economic conditions affected their healthcare decisions. 80% of respondents researched healthcare costs online, with 47% choosing providers based on cost. Despite modest shifts in insurance payer mix, younger generations, especially Gen Z and Millennials, reported significant impacts on their coverage, emphasizing the need for price transparency and flexible healthcare options.

TransUnion announced a partnership with FinLocker through an equity investment in their $20M Series A-1 financing round, aimed at enhancing the financial services and mortgage sectors.

This collaboration empowers consumers to manage their financial data, expediting loan approvals. It offers educational resources and a personalized financial dashboard, useful for first-time homebuyers. Lenders can benefit from streamlined applications and insights into consumer behaviors, fostering growth opportunities. A recent report highlighted a significant increase in loan originations, emphasizing the burgeoning market.