TransUnion - TRU STOCK NEWS

TransUnion (NYSE: TRU) has acquired Signal, a Chicago-based technology firm, to enhance its marketing capabilities. This move aims to improve consumer data utilization for personalized marketing experiences. Signal’s expertise in real-time data collection will complement TransUnion's existing solutions, which focus on customer acquisition and retention. The acquisition follows TransUnion's previous investments in TruSignal and Tru Optik, underscoring its commitment to leading in identity-enabled marketing solutions.

TransUnion (NYSE: TRU) launches the HealthyAmerica solution to aid U.S. efforts in safely reopening amid COVID-19. This initiative allows individuals to securely share their COVID-19 testing results while preserving privacy, helping businesses and schools minimize risk. The app integrates verified data identity with test results from CLIA-certified labs, adapting to future health developments, including vaccination. TransUnion Healthcare leads this initiative, aiming to enhance health safety and public confidence in reopening.

TransUnion (NYSE: TRU) declared a cash dividend of $0.075 per share for Q2 2020. The dividend is set to be paid on September 4, 2020, to shareholders recorded as of August 20, 2020. This announcement underscores TransUnion's commitment to returning value to shareholders while reinforcing its position as a trusted global information and insights company.

TransUnion's recent research reveals that phishing schemes are the most prevalent form of digital fraud during the COVID-19 pandemic, affecting 27% of targeted consumers globally. In a survey of 7,384 adults across six countries, 32% reported being victims of COVID-19-related scams. Top scams included third-party seller scams (21%) and charity scams (19%). TransUnion emphasizes the necessity for enhanced identity verification to combat these threats and protect consumers, highlighting their IDVision with iovation suite aimed at preventing identity fraud.

TransUnion (NYSE: TRU) reported second quarter 2020 results on July 28, revealing total revenue of $634 million, a 4% decrease year-over-year. The company's net income declined to $69 million from $101 million in Q2 2019, with diluted earnings per share at $0.36, down from $0.53. Despite these declines, TransUnion improved liquidity, increasing cash reserves by $126 million to $432 million. The company continues to invest in growth through Global Solutions and Project Rise, while remaining cautious amid the ongoing impact of COVID-19, suspending full-year guidance and offering a scenario-based outlook.

TransUnion (NYSE: TRU) reports that the percentage of consumer accounts in "financial hardship" has stabilized for credit products including auto loans, credit cards, mortgages, and personal loans as of June 2020. This stabilization is attributed to consumers transitioning out of hardship status. Credit delinquency rates across all major credit products showed month-over-month improvements, notably a decrease in serious delinquency in credit cards from 1.76% to 1.48%. Despite rising unemployment, consumer credit performance remains steady, indicating prudent debt management among consumers.

TransUnion Healthcare reports a gradual recovery in hospital visit volumes as of late June, with emergency visits down 25% compared to pre-COVID-19 levels. Patients with high-acuity issues are returning to emergency departments faster than those with low-acuity concerns. This shift could lead to healthcare cost reductions. Analysis shows outpatient visits down 7%, emergency visits down 25%, and inpatient volumes recovering 75%. A new book, “Healthcare Evolution,” addresses challenges in healthcare affordability and strategies to alleviate payment pressures. Insights were shared during a webinar on July 15 at 2:45 PM CT.

TransUnion (TRU) will announce its second-quarter financial results on July 28, 2020, with a press release at 6:00 a.m. CT. Following this, a conference call will take place at 8:00 a.m. CT to discuss the results. Investors can access the press release and listen to the call through the TransUnion Investor Relations website. As a global leader in information and insights, TransUnion aims to empower consumers and businesses with reliable data, promoting economic opportunity and trust in transactions.

The COVID-19 pandemic has led to a significant rise in digital transactions across financial services, increasing by 250%. However, this shift has also raised fraudulent activities, with risky worldwide transactions up by 11% since March. Identity fraud surged by 23%, highlighting a shift to synthetic identity fraud. Lenders, previously able to reduce fraud losses by 8%, may now see increases of 10-15%. To combat this, TransUnion emphasizes the use of its IDVision solution for better fraud detection, combining traditional and digital data.