TransUnion and Asurint to Deliver Resident Screening Solution to Multifamily Property Managers that is at the Forefront of the Industry
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.
- TransUnion's collaboration with Asurint enhances its TruVision™ Resident Screening solution, providing comprehensive criminal background reporting across the US.
- The solution ensures compliance with federal, state, and local regulations, supporting consumer privacy rights.
- Background checks are fast, with most reports completed within minutes and more complex cases returned same-day.
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Insights
The collaboration between TransUnion and Asurint introduces a new standard in tenant background screening, leveraging Asurint's automated criminal background reporting and compliance with federal, state and local regulations. For investors, this development is significant as it enhances TransUnion's TruVision™ Resident Screening solution, potentially driving adoption among multifamily property managers.
Short-term, this could increase TransUnion's market share in the tenant screening industry, providing a competitive edge. The quick turnaround time for reports adds operational efficiency for property managers, enhancing customer satisfaction and potentially increasing TransUnion's revenue stream.
Long-term, the compliance-focused approach may reduce legal risks associated with consumer privacy violations. Additionally, the alliance positions TransUnion as a leader in the multifamily property management market, fostering trust and reliability for investors. This move appears well-aligned with the growing regulatory environment and the increasing need for thorough yet quick tenant screenings.
The integration of Asurint's compliance filters with TransUnion's resident screening solution is particularly noteworthy from a legal perspective. As property managers face stricter consumer privacy regulations, a solution that automatically applies the latest federal, state and local filters provides significant legal protection.
Investors should note that this collaboration mitigates risks associated with regulatory non-compliance, which can result in hefty fines and reputational damage. By ensuring up-to-date and comprehensive compliance, TransUnion not only avoids potential penalties but also enhances its appeal to risk-averse property managers.
In context, this alignment with compliance requirements is a critical move that may prevent future disruptions caused by regulatory changes, thus offering a more stable investment opportunity. Furthermore, it might attract new clients who were hesitant due to compliance concerns, further expanding TransUnion's market reach.
From a financial standpoint, this collaboration is poised to positively impact TransUnion's bottom line. Integrating Asurint's advanced criminal background reporting will likely drive higher demand for TransUnion's TruVision™ Resident Screening services due to the increased accuracy and speed.
This strategic partnership should lead to
Moreover, the ability to rapidly process background checks without sacrificing quality may result in higher client retention and acquisition rates, contributing to a stable and growing revenue stream. Investors might find the improved financial outlook encouraging as it suggests sustainable growth and stronger market positioning.
Collaboration provides industry-leading criminal background information within a compliance-focused framework
CHICAGO, July 09, 2024 (GLOBE NEWSWIRE) -- Multifamily property managers face a daunting task when it comes to screening applicants. They need to conduct thorough criminal background checks in a timely manner, while observing increasingly stringent consumer privacy regulations. To address this challenge, TransUnion (NYSE: TRU) announced today its collaboration with Asurint to provide a compliance-focused solution for criminal background screening.
TransUnion’s TruVision™ Resident Screening solution now comprises the breadth and depth of Asurint’s criminal background reporting—with coast-to-coast automated coverage across the US. In addition, Asurint’s engine automatically applies federal, state, and local filters designed to address consumer protection and housing regulations, to equip property managers with quality data.
“Multifamily operators need to trust that their resident screening reports are up to date,” said Maitri Johnson, SVP and head of TransUnion’s tenant and employment screening business. “TransUnion’s collaboration with Asurint, allows us to deliver that service to help property managers make informed decisions, while also focusing on consumers’ rights.”
The collaboration also allows TransUnion to deliver background reports with unparalleled speed. Most reports without background hits come back within minutes, while those requiring additional vetting are usually returned same-day. The turnaround time becomes more impressive considering the depth of coverage, which includes backgrounds on applicant aliases, sanctions and abuse registries and more.
“Asurint’s collaboration with TransUnion sets a new standard in tenant background screening using solutions already proven in the pre-employment and public health space,” said Alla Schay, Chief Executive Officer, at Asurint. “By using our combined solutions, multifamily operators can feel good that they are receiving industry-leading criminal information in a timely manner.”
About Asurint
Asurint has 17 years of innovation and growth in the industry with powerful background screening and monitoring technology backed by subject matter experts and personalized solutions. Our technology enables clients to make faster, more informed decisions that promote safer workplaces and communities. Performing more than 10 million background screens annually, Asurint’s technology and resources have proven scalability to meet tomorrow’s challenges. http://www.asurint.com
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business
| Contact | Dave Blumberg TransUnion |
| david.blumberg@transunion.com | |
| Telephone | 312-972-6646 |
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