Union Credit helps credit unions to provide firm, one-click credit offers at the point of purchase. Being a fintech startup it has the goal to assist them with acquiring new, credit-worthy members from outside their ecosystem.
Based on the information provided in the press release, the partnership with TransUnion is set to enable lenders within the Union Credit marketplace to provide consumers with convenient, transparent financing in their day-to-day retail and financial experiences.
Commenting on the announcement, Sean Flynn, senior director of community financial institutions at TransUnion advised that Union Credit helps open the doors for credit unions’ trusted relationships and competitive rates to start being available in additional marketplaces, with the company set to participate in this movement as the data provider of choice for Union Credit’s marketplace.Per their statement, the companies’ collaboration is set to help lenders make increasingly informed decisions, serve consumers in a more efficient and effective manner, and increase financial opportunity for all.
Furthermore, data and automation are set to keep on playing a critical role in shaping the future of lending and digital engagement, and as credit unions recognize this, the announcement states that several have already joined Union Credit’s data-driven marketplace.
TransUnion provides fast and convenient access to data required to enable customers with more control over their financial opportunities. As such, Dave Buerger, CEO of Union Credit stated that by leveraging TransUnion’s ‘innovative’ trended credit attributes, algorithms, and fraud tools, the company can assess borrower creditworthiness in a more intelligent manner, and assist participating lenders to determine appropriate loan amounts, interest rates, and repayment terms, and make increasingly relevant offers to consumers. Additionally, the spokesperson believes that the robust marketplace is set to become a ‘game-changing’ product for US-based consumers in need of affordable credit.
Union Credit provides consumers with firm, one-click credit offers embedded within their day-to-day activities. The marketplace enables credit unions to enter new markets digitally with access to the front end of purchase and financing experiences, with merchants embedding Union Credit benefiting from offering customers local, competitive, and advantageous offers that are in the buyer’s best interest.
A global information and insights company, TransUnion has more than 12,000 associates operating in over 30 countries, looking to make trust possible by ensuring that each person has a reliable representation in the marketplace. Following acquisitions and technology investments, the company developed solutions that extend beyond core credit into areas related to marketing, fraud, risk, and advanced analytics, enabling consumers and businesses alike to transact with confidence.
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