TransUnion - TRU STOCK NEWS

First Orion, Hiya, Neustar, and Transaction Network Services (TNS) have formed a strategic partnership to enhance industry-wide call vetting and authentication standards. This collaboration enables trusted calls to over 285 million mobile devices and 90 million landline households in North America. The initiative includes best practices for business validation and call authentication, fostering a secure communication environment to mitigate scams. This unified framework aims to restore trust in voice communication, ultimately improving customer engagement and enterprise revenues.

TransUnion conducted an analysis revealing that two-thirds of delinquent child support payments stay in arrears for over a year. The report indicates that 95% of such accounts will remain delinquent for at least three years. It identifies three key credit behaviors predictive of child support delinquencies: expanding credit lines, sharp increases in credit utilization, and reduced credit availability. The research indicates that traditional credit scores alone are insufficient for assessing the risk of missed payments. The findings suggest the need for tailored outreach to prevent delinquencies.

TransUnion (NYSE: TRU) has signed a definitive agreement to divest G2 Web Services, Lundquist Consulting, and Fintellix to Stellex Capital Management for $176 million. The deal includes $104 million in cash and a $72 million note, expected to close by year-end, pending regulatory approval. The net proceeds will be used to pre-pay debt. This divestiture enhances the value of the company’s previous acquisition of Verisk Financial Services, which was purchased for $515 million. Argus Information is performing well with 4% revenue growth in Q2 and Q3 2022.

TransUnion and Aite-Novarica Group released a report indicating that the collections industry is slow to embrace new communication solutions. Currently, 37% of firms utilize text/SMS messaging, up from 31% last year. Large firms are leading with 56% adoption compared to just 17% for smaller firms. Despite this slow adoption, 34% of companies plan to incorporate text messaging within two years. The report also highlights challenges in hiring and the potential for job reductions due to technology consolidation. Overall, the industry recognizes digital solutions are essential for efficiency.

TransUnion analyzed early holiday e-commerce fraud attempts, revealing a global increase of 82% in suspected digital fraud between Thanksgiving and Cyber Monday compared to the rest of the year. In the U.S., this spike was 127%. The analysis indicated that 15% of all global e-commerce transactions during this period were potentially fraudulent, with 18% for U.S. transactions. Black Friday and Cyber Monday saw the highest rates of fraudulent transactions, at 26% and 24%, respectively. Nearly 54% of American consumers expressed concern over online fraud this holiday season, up 17% from the previous year.

Intelligent identity security firm Sontiq, a TransUnion company, announced that its IdentityForce product has received the PTPA Seal of Approval for the ninth consecutive year and a 2023 Top Product award. This recognition is based on unbiased reviews from a community of over 200,000 product testers. With identity theft targeting children increasingly common, Sontiq's services aim to protect families from cyber threats. The Intelligent Identity Security platform includes features like ChildWatch, offering alerts on suspicious activities.

TransUnion released its latest report on the effects of Hurricane Ian on the auto and property insurance sectors. In Q3 2022, auto insurance shopping decreased by 2% compared to Q2 and down 1% year-over-year. Despite a slight uptick in auto sales due to improved inventories, inflation is forcing consumers to seek lower premium rates. Property insurance shopping saw a 1% quarterly decline and a 7% annual drop, although real estate trends provided some support. Gen Z demographics showed increased migration, contributing to the evolving insurance landscape.

Federman & Sherwood has announced an investigation into TransUnion, Inc. (NYSE: TRU) regarding a significant data breach that occurred on November 10, 2022. The breach involved unauthorized access to sensitive consumer data affecting approximately 200 million users in the United States. Compromised information includes names, addresses, full Social Security numbers, financial account details, and complete driver’s license information. This incident raises concerns about data security and consumer trust in TransUnion.

Neustar, a TransUnion company, has expanded the ATIS Robocalling Testbed to enhance features for enterprises. The testbed helps combat robocalls and caller ID spoofing, boasting 77 participants representing over 83% of U.S. phone numbers. Key updates include a virtual cloud-based architecture and support for legacy networks. The testbed facilitates cross-border call authentication between the U.S. and Canada. This initiative aims to restore consumer trust in phone communications, with enterprises now able to participate in call authentication effectively.