News

TransUnion to acquire Verisk Financial for augmented consumer insights

Wednesday 23 February 2022 10:31 CET | News

US-based financial information platform TransUnion has signed an agreement to acquire the financial services business unit of Verisk, Argus Information & Advisory Services, to better understand consumer spend.

Verisk Financial’s business included in the agreement provides proprietary portfolio performance insights sourced from a consortium of financial institutions, which complements TransUnion’s ability to help participating customers understand consumer behaviour through a ‘full wallet view.’ Around the core Argus business, Verisk Financial has added capabilities to address merchant fraud, regulatory compliance and consumer bankruptcy for financial institutions around the world.

With the acquisition, TransUnion intends to provide augmented insights and solutions to help consortium members increase financial inclusion, acquire new accounts, and improve fraud prevention, risk management, and targeting through better application of solutions like CreditVision and CreditVision Link. TransUnion plans to accelerate the modernisation of delivery of Verisk Financial’s products by leveraging the technology of its PRAMA Analytics Platform.

TransUnion has agreed to acquire Verisk Financial for USD 515 million, which will be funded with cash on hand. Verisk Financial is expected to grow revenue low-single-digits in 2022, which TransUnion wants to accelerate to high-single-digits in 2023 and into the low-double-digits in 2024 as part of the combined company.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: TransUnion, acquisition, compliance, financial inclusion, financial data
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events