TransUnion Business Insights

TransUnion

Get an insider’s view into data, business strategies and trust. In each episode, industry experts join us to discuss key talking points in the world of technology. We’ll share new insights and perspectives on topics, such as how fraud is challenging FinTech growth; ways to develop award-winning, consumer-centric lending platforms; or the product set needed to optimise customer onboarding. You’ll learn more about the inner workings of TransUnion — one of the world’s leading insights and analytics companies — and how we bring our purpose of Information for Good® to life for individuals and communities. read less
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Episodes

Cyber Incident Response Landscape: Looking Back at 2023, Planning for 2024 and Exploring the Psychological Impact of Ransomware
21-02-2024
Cyber Incident Response Landscape: Looking Back at 2023, Planning for 2024 and Exploring the Psychological Impact of Ransomware
In this episode, Mark Read (https://www.linkedin.com/in/mark-read-/), Head of Data Breach Solutions at TransUnion UK, talks to George Chaisty (https://kennedyslaw.com/en/our-people/people/manchester/george-chaisty/), a Partner at the international law firm Kennedys Law LLP, and Cameron Carr (https://www.mullen.law/people/cameron-carr/), Managing Partner for Mullen Coughlin, to get a better understanding of the current cyber threat landscape. Off the back of a busy 2023 and with Mark attending February’s IAPP Data Protection Intensive 2024 event in London, the first part of this podcast reflects on the dominant and emerging methods being used by threat actors. Cameron, Mark and George use this scene setting as an entry point into the recent Royal United Services Institute, (RUSI) paper which explores the harms caused by ransomware to individuals, organisations and society (https://www.rusi.org/explore-our-research/publications/occasional-papers/ransomware-victim-insights-harms-individuals-organisations-and-society). RUSI is the world’s oldest and the UK’s leading defence and security think tank, and this document is an important industry talking point. Our experts discuss the psychological impact ransomware can have on individuals directly (first-order harms) and indirectly (secondary-order harms) and address key issues that businesses need to consider when mitigating a cyber incident that includes breach fatigue, impact on front line staff and customer care. We wrap up with insights into what industry professionals can expect to see from threat actors in the coming year and identify the resources that will need to be carefully marshalled in response to these threats. For more information on how your organisation can look to counter the threat of a data breach, download our dedicated ebook (https://www.transunion.co.uk/lp/breach-ebook) or get in touch with Mark directly.
Masterclass: Leveraging Credit Education to Strengthen Customer Loyalty, Trust and Engagement
16-01-2024
Masterclass: Leveraging Credit Education to Strengthen Customer Loyalty, Trust and Engagement
Curious about the potential of credit education and monitoring tools to deliver richer, mutually beneficial relationships for consumers and financial service providers? This timely episode (recorded at the FUTURE Summit 2023) can help you get a better understanding of how the credit monitoring tools and features, a familiar characteristic of modern digital financial platforms, can engage and educate customers to make better credit decisions and build loyalty and trust. In this podcast you'll hear from James Robinson, Managing Director of Consumer Interactive at TransUnion UK and Alex Cook, Product Manager at NewDay. James and Alex share their stories and insights on why they embrace credit education and the important role it plays in supporting consumer financial well-being. Topics covered include: * The need to help consumers better understand their credit status and tools that can help improve improve their financial confidence * NewDay's evolving journey with credit education * The future of credit monitoring tools and next-generation lending experiences Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide to our award-winning CreditView solution that's helping brands build next-gen financial services platforms. To get your copy** [head over to our landing page]**(https://www.transunion.co.uk/lp/creditview-ebook)
Knowing Your Customer: What's Holding You Back From Greatness?
10-12-2023
Knowing Your Customer: What's Holding You Back From Greatness?
Data advancements have the potential to improve how well you know your customer and drive outstanding customer experiences and personalised services. With regulatory evolution, including the new Consumer Duty, and intense market competition, the right approach could unlock growth and be a unique selling point. In this session, recorded at the TransUnion Summit 2023, Sam Welch (Commercial Banking Director, TransUnion) asks industry leaders from different sectors: How big is the gap between potential and reality, and what more can be done to get to know customers better? Sam poses a set of questions on key topics to our panel of financial services SMEs, and elicits authentic insights on key challenges around an effective data strategy, how to design an advance customer experience and changing consumer attitudes and economic behaviour. Panel chair: * Sam Welch, Commercial Banking Director, TransUnion Panel: * Ranil Boteju is Chief Data & Analytics Officer, Lloyds Banking Group * Desmond McNamara, CRO, Zilch * Darren Kelk, MD, Ascendant Solutions * Stuart Daniels, Chief Credit Officer, FGH Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide on new use cases for Open Banking and an overview on how TransUnion and Bud are building the next generation of Open Banking solutions. To get your copy, head over to our landing page. (https://www.transunion.co.uk/lp/open-banking)
Hyperfocusing on Consumer Outcomes: The New Consumer Duty and Financial Vulnerability
27-06-2023
Hyperfocusing on Consumer Outcomes: The New Consumer Duty and Financial Vulnerability
One of the most pressing economic challenges stemming from the cost of living crisis is the growing concern around consumers' financial vulnerability. It is a high priority and concern for senior leaders across financial services, insurance, gaming, e-commerce and government. The publication of the Credit Information Market Study Interim Report and Discussion Paper (Nov 2022) — covering non-financial vulnerability and the need to ensure good customer outcomes — and the FCA’s new Consumer Duty regulations, emphasises the need for organisations to invest in data solutions and data science talent, adhere to evolving compliance requirements, be committed to customer care and have a strategic mindset. This podcast dives into the issue of financial vulnerability and discusses the changing regulatory landscape and the latest on the Consumer Duty. It features vox pops from the public talking about their financial concerns and how they are coping with the pressures on their household budgets, expert insights from decision makers in the credit space and an overview of the ways businesses can strengthen relationships with customers and improve their financial confidence. Contributors you'll hear from: * Sam Welch, Commercial Banking Director, TransUnion * Jonathan Baum, Non-Exec Board Member and Strategic Advisor * Caroline Evetts, Director of Risk & Compliance, TransUnion * Oli Lewis-Jones, Retail Conduct Risk and Regulation Consultant, Deloitte * James Robinson, Managing Director - Consumer Interactive, TransUnion Further insights * Create brighter futures with CreditView (https://www.transunion.co.uk/lp/creditview-ebook) e-Book * Emerging Financial Services Trends and The Future of Banking (https://www.transunion.co.uk/blog/emerging-financial-services-trends-and-the-future-of-banking)
Building Meaningful Lending Experiences: How to Think Like A Gen Z Consumer
04-05-2023
Building Meaningful Lending Experiences: How to Think Like A Gen Z Consumer
As Gen Z and young Millennials move out of higher education and into the workplace, they're actively seeking to solve their banking and lending needs. This is likely to involve transacting with different financial service providers and using a diverse range of financial products and payment methods. We've produced this episode to help you understand what younger consumers think of credit, how they talk about money and their attitude towards financial management. It touches on the accessibility and availability of credit information, and the impact socioeconomic factors, such as the cost of living crisis, is having on budgeting and aspirations. Hosting the show is TransUnion's James Robinson (https://uk.linkedin.com/in/james-robinson-35ba3622). James started at TransUnion in 2007 and has worked across account management, pre-sales and was recently promoted to managing director of our consumer interactive team. With over 10 years’ experience in delivering consumer credit solutions, James is a subject matter expert (SME) in consumer credit and open banking data, and the lending customer experience. Joining James is Ellie Austin-Williams (https://uk.linkedin.com/in/ellie-austin-williams), founder of the This Girl Talks Money, a podcast that aims to empower and help Gen Z and Millennials cultivate a positive money mindset. Working with this demographic, Ellie brings a fresh, personable perspective to important issues such as financial education and money management. Topics include; dissecting the ideal customer journey for Gen Z talking to innovation, personalisation, security and instant decisions; digital trust in an age of disinformation and scams; and their understanding and adoption of open banking. Speakers: * James Robinson, managing director, consumer interactive, TransUnion in the UK * Ellie Austin-Williams, founder of This Girl Talks Money
Open Banking Steps Up: Bud Announcement, Fiinu Launch and the Evolution of Open Finance
21-03-2023
Open Banking Steps Up: Bud Announcement, Fiinu Launch and the Evolution of Open Finance
The evolution of open banking continues apace. In this episode of Data, Strategies and Trust, we bring together some of the concepts and approaches which are driving the data solution forward and making it an increasingly recognisable piece of the banking customer journey. Hosting the show is TransUnion's Celso Nogueira. Celso joined TransUnion’s Brazil business in 2016 and has specialised in the development of open banking solutions. At the beginning of 2023 Celso moved to TransUnion’s UK business as our director of product management – open banking (https://www.transunion.co.uk/product/open-banking-platform). Bringing a global perspective to the table, Celso talks with Sam Buckley, senior credit consultant – open banking, about the adoption of open banking in the UK, emerging use cases that we are seeing in the market and the recent announcement of TransUnion going into partnership with Bud, which is designed to drive greater financial inclusion. In the UK, TransUnion was an early advocate of open banking, viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Contributing to the discussion in this episode is Chris Sweeney, CEO of Fiinu (https://www.fiinu.com/), a consumer-focused fintech that secured its Financial Conduct Authority license in 2022. Chris' career to date has included being CEO at 118 118 Money and prior to that, CEO and Executive Director of Vanquis Bank. With over 20 years’ experience in consumer finance and retail banking, and a track record of driving businesses forward through strategic transformational change in the UK and overseas markets, he's helping to launch Fiinu this year. Chris talks to Sam about crafting Fiinu’s consumer-facing proposition, how they are innovating by putting open banking at the beginning of the customer journey and the exciting ways it and open finance can help consumers access appropriate financial products. Speakers: * Celso Nogueira, director of product management – open banking, TransUnion in the UK * Sam Buckley, senior credit consultant – open banking, TransUnion in the UK * Chris Sweeney, CEO of Fiinu Useful links: * Celso quotes statistics around the increased consumer usage of open banking from the OBIE (https://www.openbanking.org.uk/about-us/) * The consumer numbers that Chris (Fiinu) references are sourced from the FCA (33 million is from the FCA (19M arranged, 14M unarranged users)) and verified primary research conducted by Fiinu using bureau data (e.g. 16.5m is 14+2.5m as the unarranged market grew by 2.5M) * Sustainable Growth for Lenders: A guide for reaching and retaining the next generation (https://www.transunion.co.uk/lp/sustainable-growth-for-lenders)
Data Breach: Creating a Contingency Plan for 2023
12-01-2023
Data Breach: Creating a Contingency Plan for 2023
In this episode of TransUnion's Data, Strategies and Trust podcast series, Mark Read, head of data breach solutions at TransUnion UK, sits down with Ellie Ludlam, partner within the cyber and data risk team at DAC Beachcroft LLP, and Bill Flynn, senior vice president and deputy general counsel at TransUnion International, about the current data breach landscape and how businesses can best respond to 'known unknowns'. In our e-book, Data Breach Support for Businesses, we reported that 83% of businesses say new working practices mean they fear a data breach now more than ever. With data breaches an ongoing and evolving threat this podcast explores some of the topics that are likely to matter to security professionals and their stakeholders in 2023. Our expert speakers talk through the UK regulator’s position on data breach compensation claims, insights from DAC Beachcroft’s data protection and cyber conference (held in November 2022) and discuss of the some of the main cyber issues facing UK businesses, including ransomware, robust third-party protection and cyber resilience. This podcast is ideal for cyber and risk experts or senior leaders working with digital teams wanting to learn more about some of the pressing issues and risks within the data breach and cyber crime world, and how they can evolve and sharpen their contingency plans. Speakers: * Mark Read, head of data breach solutions at TransUnion UK (https://uk.linkedin.com/in/mark-read-) * Ellie Ludlam, partner within the cyber and data risk team at DAC Beachcroft LLP (https://uk.linkedin.com/in/eleanor-ludlam-a7736927) * Bill Flynn, senior vice president and deputy general counsel at TransUnion International For more information on TransUnion's data breach support services and reasearch visit: * Data Breach Support Service (https://www.transunion.co.uk/solution/data-breach-support-service) * Data Breach Support for Businesses ebook (https://solutions.transunion.co.uk/trueidentity-ebook/)
The Drive for Greater Financial Inclusion with TotallyMoney
14-10-2022
The Drive for Greater Financial Inclusion with TotallyMoney
At a time of economic uncertainty how can we better help the financially under-served and drive greater financial inclusion? In this podcast we focus on how we can improve consumers’ experience of credit against the backdrop of the cost of living crises, and give them greater confidence in their finances. Joining host Kelli Fielding, VP Consumer Interactive at TransUnion, are Alastair Douglas, CEO of TotallyMoney, and Sarah Taylor, Analytical Consultant, TransUnion. TransUnion Consumer Pulse research shows 70% of consumers think having access to credit is important to achieve their financial goals, but a recent white paper on the financially under-served, published by TotallyMoney, revealed 1 in 3 UK adults struggle to access mainstream lenders. These research pieces provide the starting point for a discussion that explains what financial inclusion actually means, why it is important, and why it offers lenders an opportunity to materially help improve consumers’ access to lending products, as well as their understanding of their financial situation. Our speakers also discuss advancements in digital customer experience and using innovation to foster loyalty. Research cited in this podcast can be found below: * TransUnion: Consumer Credit 2022 (Consumer Credit 2022) * TransUnion: Consumer Pulse Study (Consumer Pulse Study) * TotallyMoney: Overlooked and financially under-served white paper (https://www.totallymoney.com/financially-under-served-whitepaper.pdf)
Socially Responsible Gambling Amidst a Cost of Living Crisis
01-09-2022
Socially Responsible Gambling Amidst a Cost of Living Crisis
In this episode we turn our attention to the UK gambling industry. According to UK Gambling Commission research (https://www.gamblingcommission.gov.uk/statistics-and-research/publication/statistics-on-participation-and-problem-gambling-for-the-year-to-march-2022), 43% of UK adults aged 16 and over participated in gambling in year to March 2022 (within a four week period). This includes the National Lottery, sports betting and online slot machines. The UK gaming industry has invested heavily in the move from bricks and mortar to omnichannel, the digital customer experience and adapting to evolving regulation. In this podcast we focus on socially responsible gambling through the lens of updates to UK gambling regulation and the growing cost of living crises. We ask: How can the UK gambling industry better protect consumers in 2022 and in the future? Joining host Ben Wade (TransUnion) are Luke Sugden (Flutter UK and Ireland), Tom Banks (Kindred Group), Dan Whitlam (GamCare) and Roberta Sossi (TransUnion). The discussion starts with the latest guidance published by the UK Gambling Commission, with our guests identifying key talking points and explaining how the industry is interpreting and responding to them. The conversation moves on to insights into consumer economic behaviour and attitudes, the protections players expect from operators and how this is shaping the digital customer experience. We wrap up by looking to the future and how advanced data insights and regulation could further help consumers and the industry. Contributors: * Ben Wade, Sector Lead - Gaming, TransUnion * Luke Sugden, Director of Risk and Safer Gambling, Flutter UK and Ireland * Tom Banks, Head of Corporate Affairs UK and Global, Kindred Group * Dan Whitlam, Head of Industry Standards, GamCare * Roberta Sossi, Senior Credit Consultant, TransUnion Further information: * Read up on TransUnion's ongoing Consumer Pulse research (https://www.transunion.co.uk/consumer-pulse-study), consumer research Roberta refers to in this episode * Find out how TransUnion works and partners with the gaming industry (https://www.transunion.co.uk/industry/gaming) * UK Gambling Commission June 2022 update: Customer interaction: formal guidance for remote gambling operators (https://www.gamblingcommission.gov.uk/licensees-and-businesses/guide/customer-interaction-formal-guidance-for-remote-gambling-operators)
Open Sesame: The Opportunity for Open Banking in 2022
27-06-2022
Open Sesame: The Opportunity for Open Banking in 2022
In the UK we're five years into the open banking journey that’s enabled consumers to share their current account information securely with third-party providers in exchange for tailored financial products and services. The macroeconomic challenges of the cost of living crisis, the COVID-19 pandemic, as well as rising property and rental prices, are putting financial services and credit products under the microscope. In parallel, the technology is continuing to evolve with the Open Banking Implementation Entity's (OBIE) publication of the Open Banking Standard version 3.1.10, the final release under the Competition and Markets Authority (CMA) revised roadmap. This makes it an ideal time to dive into the world of open banking, to understand its development and potential to help consumers and businesses create better outcomes. In this episode regular host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by Praneeth Meka, Senior Director Data Science and Analytics, and Sam Buckley, Senior Credit Consultant in Open Banking, to explore open banking’s maturity curve, reflecting on consumer adoption, use cases and lessons learned, and ongoing innovation. In the UK, TransUnion was an early advocate of open banking (https://www.transunion.co.uk/product/open-banking-platform), viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Recent product development to our end-to-end solution includes enhancements during COVID-19 as consumer affordability became a key issue and our partnership with Credit Ladder to include property rental payments in credit reports (https://newsroom.transunion.co.uk/transunion-teams-up-with-creditladder-to-include-property-rental-payments-in-credit-reports/). Further insights into open banking from TransUnion: • The role of open banking in a polarised UK economy (https://www.transunion.co.uk/blog/the-role-of-open-banking-in-a-polarised-uk-economy) • Consumer Credit 2022: Responding to Challenge and Change (https://solutions.transunion.co.uk/consumer-credit-2022/) • Lending in a Time of Crisis ebook (https://solutions.transunion.co.uk/lending-in-a-time-of-crisis/)
AltFi Festival of Finance 2022 Debrief
25-05-2022
AltFi Festival of Finance 2022 Debrief
This episode revolves around AltFi Festival of Finance 2022. TransUnion was the headline sponsor for the event (held 27-28 April), that brought together key players in the alternative finance and fintech space. Over the course of the two days the spotlight was shone on product development, industry-wide challenges and disruptive innovation. Host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by VP of FinTech, Steve Wishart, and Praneeth Meka, Senior Director Data Science and Analytics, to discuss some of the main themes that emerged during the festival. Asia asks Steve and Praneeth about the importance of trust in the digital economy, the evolution of buy now pay later (BNPL) from version 1.0 to 2.0 and what this could mean for consumers and businesses, customer experience (CX) and the opportunity presented by open banking. Useful links: * The TransUnion consumer research white paper referenced by Asia and Steve is the Consumer Credit 2022: Responding to Challenge and Change (https://solutions.transunion.co.uk/consumer-credit-2022). Download it to get a better understanding of consumer attitudes and preferences towards finances in 2022 * Read up on how TransUnion are helping to shape the future of BNPL - TransUnion Is First UK Credit Reference Agency To Accept Buy Now, Pay Later Data (https://newsroom.transunion.co.uk/transunion-is-first-uk-credit-reference-agency-to-accept-buy-now-pay-later-data/) * More information on the AltFi Festival of Finance 2022 can be found on the event microsite (https://www.altfi.com/events/the-altfi-festival-of-finance-2022)
Digital Onboarding: Global Insights and Best Practice Examples
15-02-2022
Digital Onboarding: Global Insights and Best Practice Examples
How has COVID-19 influenced the way lenders, telco, insurance, automative businesses and retailers, engineer their digital onboarding flows? And are these changes permanent and what innovations are on the horizon? In this podcast we dive into the role fraud and identity solutions have in creating secure and outstanding customer experiences. Since 2020, digital fraud and financial crime has exploded, negatively impacting on consumer and business confidence and trust. Delivering a great onboarding experience during customer acquisition is a universal ambition for digital leaders. To demonstrate common dominators and differences across borders, and provide the best insights possible, we've brought in expert perspectives from different markets. Presenter Josh Gunnell, Director - Fraud Solutions TransUnion in the UK, is joined by: * Patrick Boudreau - Head, Identity Management & Fraud, TransUnion, Canada * Megha Khetarpal- Director, Fraud Solutions Lead for Emerging Markets, TransUnion, India Topics covered include unlocking friction-right design, customer experience across the customer journey and awareness of fraud threats in the digital world. Research cited by Megha Khetarpal: * Question 1: Using findings from TransUnion's ongoing Consumer Pulse research survey. (https://www.transunion.com/consumer-pulse-study) Each quarter TransUnion tracks consumer attitudes and experiences towards credit, fraud and related themes. Questions 2 response: Insights referenced come from a Deloitte study into the gap between what consumers think of financial services institutions vs. their favourite technology brand. Research cited: Accelerating Digital Transformation in Banking, July 2018, Deliotte Insights. (https://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-accelerating-digital-transformation-in-banking.pdf)
Preparing Your Business for Gen Z
07-10-2021
Preparing Your Business for Gen Z
Generation Z will soon become the biggest cohort of UK consumers, wielding immense spending power and influencing the direction of digital platforms. This podcast discusses TransUnion’s Q3 2021 Consumer Pulse research, that found demand for credit is rising for younger consumers: 42% of Gen Z and 34% of Millennials plan to apply for credit compared to just 9% of Baby Boomers With those Gen Zers planning to apply for credit most likely to use credit cards, with over one in three looking to apply for a new card The rise in credit card providers, new forms of credit such as Buy Now Pay Later (BNPL), and emergence of subscription service models, indicate that Generation Zs behaviours are beginning to reshape the financial landscape. Listen to hear more on Gen Z and how FinTechs, and lenders more broadly, can work with them and foster loyalty. Our expert guests are:  * Steve Wishart. Head of FinTech, TransUnion UK  * Kelli Fielding. Managing Director of Consumer Markets, TransUnion UK    ** This episode references one of the reports available to download now from our website:    ** TransUnion sponsored The Economist Intelligence Unit to conduct a global survey of 1,610 executives — delving into their mindsets and perceptions around fraud, security and commerce trends in the digital domain.   New Dimensions of Change: Building trust in a digital consumer landscape report, created by The Economist Intelligence Unit and sponsored by TransUnion is available to download now on our website: https://solutions.transunion.co.uk/digitalconsumertrust/     *Source: Generation Z: the new face of financial power | The Independent | The Independent