TransUnion partners with MoneyLion

Through this partnership, MoneyLion will incorporate TransUnion’s credit data and decision-making tools into its platform. The goal is to offer consumers financial products based on their individual needs. For TransUnion, the partnership widens the use of its credit solutions by leveraging MoneyLion’s platform to reach a larger audience through its network of partners. 

By leveraging TransUnion’s data, MoneyLion aims to improve the relevancy of financial products presented to users, optimising the consumer experience. Financial institutions that work with MoneyLion are expected to benefit from more efficient credit decision-making processes and improved segmentation capabilities, allowing them to present more accurate product offers to customers. 

In the company press release, representatives from TransUnion noted that this partnership strengthens their position in the fintech industry. They explained that integrating TransUnion’s credit data with MoneyLion’s platform can improve the experience for both consumers and partners by promoting informed decision-making. 

According to officials from MoneyLion, the collaboration supports their ongoing mission to provide consumers with accessible financial tools and insights while helping financial institutions engage customers more effectively. The integration of TransUnion’s credit data will enable the delivery of more relevant financial products to consumers as they progress through different stages of their financial journey. 

In essence, the partnership is seen as a step toward streamlining operations and improving outcomes for financial institutions through the use of advanced credit data.

Other developments from MoneyLion

MoneyLion provides personal finance products, tools, and features designed to make financial services more inclusive, transparent, and accessible to everyone. MoneyLion is a marketplace-first provider, offering borrowing, saving, credit, and banking solutions with both 1st-party and 3rd-partyproducts, complemented by curated and original money-related content that delivers actionable insights and guidance.

In August 2024, MoneyLion joined the American Fintech Council (AFC) to promote financial inclusivity and innovation. At the time, officials from the AFC said that MoneyLion enables customers to take control of their financial future, unlocking countless possibilities for people long forgotten by traditional financial institutions.