TransUnion - TRU STOCK NEWS

TransUnion's latest survey, conducted among 1,200 U.S. consumers in Q2 2024, reveals high satisfaction with Buy Now, Pay Later (BNPL) loans. About 89% of users are satisfied, and 85% would recommend BNPL to others.

Approximately 40% of non-users are likely to use BNPL in the future, with this figure rising to 53% if BNPL positively impacts credit scores. The survey shows that 80% of BNPL users utilize these loans more than once a year.

TransUnion has launched capabilities to reflect BNPL loans in credit scores, aiming to boost financial inclusion. Significant findings include 86% of users being more likely to use BNPL if it improves credit scores and over half of users across income tiers valuing the ability to build credit scores through BNPL.

TransUnion (NYSE: TRU) has announced a collaboration with Asurint to enhance its TruVision™ Resident Screening solution for multifamily property managers. This partnership integrates Asurint’s comprehensive criminal background reporting, ensuring compliance with federal, state, and local regulations. The enhanced solution offers nationwide automated coverage and improves the speed of background checks, delivering most reports within minutes and same-day for more complex cases. The solution aims to assist property managers in making informed decisions while maintaining consumer privacy.

A new TransUnion (NYSE: TRU) study reveals that consumer affordability challenges and tightened lending standards are affecting new vehicle originations in the auto industry. The study, 'Originating Auto Loans With Confidence,' examines trends in auto originations, consumer savings, debt burdens, and credit scores during the pandemic and surrounding years. Despite a brief post-lockdown recovery in 2021, auto originations have declined year-over-year due to supply shortages and now, affordability issues and tighter consumer budgets. Notably, the average monthly debt for consumers with auto loans has increased by nearly 20% over the past two years, with monthly payments rising from $1,345 in Q1 2022 to $1,583 in Q1 2024. This increase is almost double the Consumer Price Index (CPI) growth over the same period. Delinquencies among auto borrowers are also up, with 60+ day delinquencies rising to 1.33% in Q1 2024 from 1.19% a year earlier. Consumers with significant credit score increases in 2022 are at greater risk of delinquencies. Lenders are encouraged to adapt their strategies to manage risk and stimulate originations, including using alternative data and conducting performance analyses.

TransUnion (NYSE: TRU) has announced the release date for its second quarter financial results for 2024, which ended on June 30, 2024. The results will be published on July 25, 2024, at approximately 6:00 a.m. Central Time (CT).

On the same day, the company will hold a conference call at 8:30 a.m. Central Time (CT) to discuss the financial outcomes. Both the press release and the live webcast of the earnings call will be accessible on the TransUnion Investor Relations website.

New research from TransUnion (NYSE: TRU) and MMA Global reveals a successful marketing strategy called 'Movable Middles'. This strategy targets category buyers who are not brand loyal, resulting in superior short- and long-term results. Key findings show that targeting Movable Middles can yield 9.5x more conversions, save over 50% in marketing costs, and produce up to 23x higher returns on marketing investment. Ally Bank applied this approach and saw a 2.2x increase in short-term account openings and a 1.9x increase in long-term customer acquisitions. This strategy, backed by empirical data, offers a roadmap for marketers to maximize their advertising efficiency.

TransUnion's Q2 2024 Consumer Pulse study highlights that U.S. consumer concerns about inflation and interest rates have reached their peak in two years. Despite this, 55% of Americans remain optimistic about their finances, driven by stable employment and rising wages. The study, based on a survey of 3,000 adults, reveals that inflation in essential goods like groceries and gas is a top concern for 84% of respondents, a 5% increase from the previous year. Additionally, 46% are worried about rising interest rates. Young generations, especially Gen Z and Millennials, show the highest optimism about their financial future. However, 48% of consumers report that their incomes are not keeping up with inflation. More consumers are turning to credit, with 31% planning to apply for new credit or refinance existing credit within the next year, despite high interest rates.

Comcast Advertising and TransUnion announced a new partnership aimed at enhancing addressable TV advertising. This collaboration will integrate TransUnion's identity graph with Comcast's audience data, covering nearly 32 million households. The agreement aims to help advertisers create advanced audience segments to target with greater precision. Addressable TV advertising is highlighted as a solution for improving reach, with Comcast claiming that 1 in 3 target households would not be reached through traditional TV alone. This integration ensures consumer privacy while providing actionable customer profiles to improve advertising effectiveness.

TransUnion (NYSE: TRU) reported a 31% increase in data breach severity in Q1 2024 compared to Q1 2023. These findings were presented at the 2024 FinovateSpring conference, where TransUnion also showcased its new enhanced identity threat intelligence technology, TruEmpower™. This technology features BreachIQ, an AI-driven tool that assesses personalized identity risk and provides actionable steps for consumers to protect themselves. The Breach Risk Score (BRS) increased to 4.6 in Q1 2024 from 3.5 in Q1 2023, primarily due to a spike in Social Security number exposures, which appeared in 78% of reported breaches. The Identity Theft Resource Center (ITRC) also reported a 90% rise in data compromises in Q1 2024. TruEmpower's innovative approach aims to help consumers take proactive measures against identity theft, shifting consumer behavior towards improved identity safety.

TransUnion (NYSE: TRU) announced that senior executives will present at three investor conferences. Chris Cartwright, President and CEO, will present at the Bernstein Strategic Decisions Conference on May 29, 2024, at 9:00 a.m. CT (10:00 a.m. ET). Todd Cello, EVP and CFO, will present at the Baird Global Consumer, Technology and Services Conference on June 4, 2024, at 8:40 a.m. CT (9:40 a.m. ET). Both executives will present at the William Blair Growth Stock Conference on June 6, 2024, at 8:40 a.m. CT (9:40 a.m. ET). Live webcasts and replays will be available on TransUnion’s Investor Relations website.