TransUnion - TRU STOCK NEWS

TransUnion Healthcare has formed a partnership with Socially Determined to enhance healthcare outcomes by analyzing Social Determinants of Health (SDOH). This collaboration will apply SDOH analytics and clinical data to help healthcare organizations better understand social risks impacting communities. The use of the SocialScape platform will lead to targeted interventions, improving overall care and reducing costs. The partnership arises amidst the heightened health and economic challenges due to COVID-19, where over half of consumers reported financial impact from the pandemic.

TransUnion's 2021 consumer credit forecast anticipates a rebound in credit card and personal loan originations in the first half of the year, with Q2 expected to show significant growth. Auto loans will increasingly target lower-risk consumers, while macroeconomic factors like job growth and GDP improvements will bolster the credit market. Despite some continuing hardship in mortgage forbearance rates, overall consumer delinquency remains low. The report predicts a return to pre-COVID levels of origination activity across various credit products, with a notable focus on healthier lending practices.

TransUnion has partnered with The Floow to enhance telematics insights for insurers, aiming to improve pricing sophistication and customer experience. This collaboration introduces solutions like FloowDrive, FloowFleet, FloowKit, and FloowScore, which provide real-time driver behavior data. The partnership is designed to help insurers mitigate risks and adapt to market changes more effectively. The Floow's technology, which is device-agnostic, allows for seamless integration, helping insurers better assess risks and price policies compared to traditional models.

TransUnion has reported a 14% increase in the rate of suspected holiday e-commerce fraud compared to all of 2020, mirroring consumer concerns reflected in a survey where 50% of respondents were worried about fraud. Despite a 1% decline in fraud rates from 2019, the current rates are 59% higher than in 2018. The analysis highlights Cyber Monday as the peak day for suspected fraud transactions at 26.03%. Furthermore, mobile devices were used for 58% of online transactions, down from 62%% in 2019. The findings underline the increasing challenges for e-commerce in ensuring transaction security.

TransUnion Healthcare reports that emergency department visits are down 26% from pre-COVID-19 levels, indicating a shift in patient behavior. As of late October 2020, inpatient volumes decreased by 9%, while outpatient visits have stabilized. The company highlights a growing preference for telehealth, with 33% of patients utilizing it in the past year, primarily due to the pandemic. Moreover, 67% of telehealth users plan to continue these services post-vaccine. The report suggests ongoing care deferrals may lead to increased healthcare costs for high-acuity patients.

TransUnion's new Holiday Shopping Report reveals a significant shift towards online shopping, with 76% of consumers planning to conduct over half their holiday shopping online, up from 57% last year. This change comes as only 21% intend to shop in-person during Black Friday, reflecting a 32% decrease in brick-and-mortar shopping. The report emphasizes the need for retailers to offer seamless online experiences, including multiple shipping options and promotions, to attract consumers who began shopping as early as October.

TransUnion (NYSE: TRU) has been recognized as Best in Class by Javelin Strategy & Research for its leading enterprise fraud prevention solution, IDVision® with iovation®. This accolade highlights TransUnion's commitment to combining personal and digital data to enhance identity verification and reduce consumer challenges. Javelin's evaluation assessed several key components, showcasing how TransUnion's solutions help businesses combat fraud while optimizing user experiences. The company's global reach spans over 30 countries, supporting economic opportunities and personal empowerment.

TransUnion (NYSE: TRU) has partnered with Atlas Digital Group to enhance the online experience for cable operators and broadband internet service providers. This collaboration introduces a proprietary score to streamline fraud detection, minimizing friction during customer interactions. The score will be integrated into Atlas’s CORE eCommerce solution, which assists providers in gaining market share, optimizing marketing strategies, and increasing revenue. The combined offering aims to support small and mid-sized service providers in a competitive market.