Welcome to our dedicated page for TransUnion news (Ticker: TRU), a resource for investors and traders seeking the latest updates and insights on TransUnion stock.
TransUnion (NYSE: TRU) is a global leader in information and insights, providing innovative solutions to businesses and individuals worldwide. Serving approximately 45,000 companies and over 500 million customers across 33 countries, TransUnion's mission is to empower economies by offering reliable and actionable consumer information.
Core Business: As one of the three leading credit bureaus in the United States, TransUnion is pivotal in the credit granting process. The company offers a wide range of services, including credit reporting, fraud detection, marketing, and advanced analytics. By leveraging its extensive data, TransUnion helps businesses manage risk, improve marketing strategies, and enhance customer experiences.
Recent Achievements and Partnerships: In April 2024, TransUnion partnered with GrowthLoop to enhance identity resolution and marketing solutions. This collaboration addresses the challenges marketers face due to low match rates in digital advertising, offering improved audience targeting and campaign efficacy.
Financial Condition and Global Presence: TransUnion generates about a quarter of its revenue from international markets, operating in over 30 countries. The company continues to expand its global footprint through strategic acquisitions and technology investments, ensuring robust financial health and sustained growth.
Products and Services:
- Credit Information: Comprehensive consumer credit reports that support lending decisions.
- Fraud Detection: Advanced solutions to identify and mitigate fraudulent activities.
- Marketing Solutions: Data-driven strategies to enhance customer acquisition and retention.
- Analytical Services: Insights and analytics that drive business intelligence and decision-making.
Current Projects: TransUnion is continuously innovating to improve its offerings. Recent initiatives include enhanced identity threat intelligence technology and updated consumer financial strain analysis, helping government agencies better support constituents during economic challenges.
Commitment to Trust and Innovation: TransUnion's motto, Information for Good®, reflects its dedication to fostering trust and economic opportunity. By providing a reliable and comprehensive view of consumers, TransUnion enables confident transactions and significant achievements for individuals and businesses alike.
A new TransUnion survey reveals that 80% of recent home buyers may consider refinancing their mortgages in the next 12 months as interest rates begin to fall. The survey, conducted in September 2024, found that most consumers feel their existing auto and new mortgage payments are straining their household finances. 70% of recent home buyers cited more favorable loan terms as a key refinancing driver, while 67% mentioned better interest rates. For auto loans, 65% of respondents agreed their payments strain their finances, with 63% likely to refinance if it could reduce monthly payments. Credit unions dominate the refinance market with a 67% share in 2023.
TransUnion (NYSE: TRU) reported strong Q3 2024 financial results, with total revenue reaching $1,085 million, up 12% compared to Q3 2023. Net income was $68 million with diluted EPS of $0.35, improving from a loss in Q3 2023. The company saw significant growth across multiple segments: U.S. Markets revenue increased 12%, Financial Services up 17%, and Consumer Interactive rose 21%. International revenue grew 11%, with notable performance in India (+21%). TransUnion voluntarily prepaid $25 million in debt and raised its 2024 guidance, now expecting 9% revenue growth for the year. The company projects to capture $85 million in operating expense savings in 2024 through its transformation program.
TransUnion's latest report reveals a significant 33% increase in property managers reporting rent payments to credit agencies since 2023. 48% of aware property managers now report rent payments, with 52% of them starting within the past two years. The primary motivations are helping residents build credit scores (91%) and encouraging timely payments (70%). 85% of reporting managers find it easy.
The study shows Gen Z renters report payments at 26%, more than double the general population's 11%. Across generations, 84% of renters with reported payments saw credit score improvements. Additionally, 61% of renters prefer property managers who report payments, and 83% say they're more likely to pay on time if reported.
TransUnion's SVP Maitri Johnson predicts rent payment reporting will become the norm, benefiting both renters and property managers.
Horace Mann Educators (NYSE:HMN) has announced a new partnership with TransUnion (NYSE: TRU) to enhance its financial wellness offerings for educators. The collaboration introduces HMScore™, a free credit education and tools program designed to empower teachers nationwide.
HMScore™ provides educators with access to their TransUnion credit report and score, credit monitoring, and TransUnion's score simulation tool. This digital interface aims to help educators understand their credit picture and actively manage their financial health. The program is part of Horace Mann's broader initiative to support educators' financial success, which includes services such as student loan assistance, insurance products, and retirement planning.
Educators can access these new tools by visiting horacemann.com/hmscore. This partnership reflects Horace Mann's ongoing commitment to providing innovative resources that support educators in achieving their financial goals.
TransUnion's H2 2024 Update to the State of Omnichannel Fraud Report reveals significant fraud impacts on businesses globally. Key findings include:
- Business leaders report fraud losses equivalent to 6.5% of revenue, totaling $359 billion among surveyed organizations
- 75% of respondents noted fraud stayed the same or increased year-over-year
- Scam/authorized fraud was the most common cause of fraud loss
- Global rate of suspected Digital Fraud remained high at 5.2% of all transactions
- Synthetic identity lending exposure reached an all-time high of $3.2 billion in H1 2024
- Auto loan industry most impacted by synthetic identity exposure at $2.0 billion
- Communities industry (online forums, dating sites) experienced the largest percentage (11.5%) of suspected Digital Fraud globally
TransUnion's Fall 2024 US Gig Economy Report reveals that 62% of U.S. adults now earn money from gig platforms, with 37% relying on it as their primary income source. Millennials lead this trend, with 55% using gig work as their main employment. The report highlights high worker satisfaction (64%) due to flexibility, enjoyment, and skill alignment. Top gig work types include ridesharing (23%), freelancing (19%), and food delivery (19%).
While most gig workers earn under $2,500 monthly, 36% of Millennials and 21% of Gen Z report earnings over $5,000 per month. The majority plan to maintain or increase their gig involvement, with only 8% intending to switch to full-time employment. To attract and retain workers, platforms are considering offering services like identity protection, financial education, and supplementary insurance.
First Orion, Transaction Network Services (TNS), and TransUnion (NYSE: TRU) have announced the availability of branded calling with logos across the top three U.S. wireless carriers. This partnership aims to deliver five billion authenticated, branded calls in 2024. The solution adds rich content to mobile displays, including name, number, and logo, with secure end-to-end authentication to prevent call spoofing.
Key achievements include:
- Adoption by over 4,500 U.S. businesses, including 15% of Fortune 500 companies
- Delivering 3.7 billion branded calls this year
- Shared network coverage of over 300 million consumers
- Registering 250,000+ businesses and 22 million phone numbers
TransUnion (NYSE: TRU) has announced the release date for its third quarter 2024 financial results. The company will publish its earnings report on Wednesday, October 23, 2024, at approximately 6:00 a.m. Central Time (CT). Following the release, TransUnion will host a conference call at 8:30 a.m. (CT) on the same day to discuss the financial results in detail.
Investors and interested parties can access the press release and a live webcast of the earnings conference call through the TransUnion Investor Relations website at http://www.transunion.com/tru. This announcement provides shareholders and analysts with the opportunity to prepare for the upcoming earnings report and gain insights into TransUnion's financial performance for the quarter ended September 30, 2024.
TransUnion (NYSE: TRU) and MoneyLion (NYSE: ML) have announced a strategic partnership to enhance personalization in consumer finance. MoneyLion will integrate TransUnion's credit data and solutions into its platform, enabling more personalized financial offers for consumers. This collaboration will allow TransUnion to extend its credit solutions through MoneyLion's platform to its partner network.
The partnership aims to benefit financial institutions by improving decision-making and segmentation capabilities. It will enable them to attract customers and offer suitable products at the right time in their financial journey. This integration is expected to drive efficiency, innovation, and improve the overall financial experience for consumers.
TransUnion (NYSE: TRU) has strengthened its partnership with Truework, a leading income and employment verification provider. This collaboration introduces a single-click solution for property managers, integrating TransUnion's resident screening with Truework's income and employment verification. The enhanced platform offers:
1. Verified income and employment data
2. Credit checks
3. Criminal background checks
4. Eviction reports
This comprehensive solution aims to provide property managers with all necessary information to make informed decisions on rental applicants within a single interface. The integration is designed to streamline the screening process, improve fraud mitigation, and potentially increase rental payment collection rates.
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