Credit and information management firm TransUnion (Chicago) announced it will include ID Analytics' collections, credit and identity risk solutions in its portfolio of service offerings. By leveraging scores from ID Analytics, a San Diego-based provider of on-demand identity intelligence, TransUnion customers will achieve real-time insight into consumers' fraud risk and creditworthiness across the entire lifecycle including origination, portfolio management and collections. Together, according to the two companies, they are able to deliver a suite of solutions that reduce credit losses, improve collection efforts and reduce costs associated with fraudulent transactions.
"Using ID Analytics' solutions, TransUnion customers have access to alternative sources of data that offer a unique perspective of consumer behavior and risk assessment," said Steve Sassaman, executive vice president of TransUnion's financial services group, in a statement announcing the arrangement. "When used in conjunction with TransUnion scores, these solutions can help reduce companies' risk exposure by providing additional insight into consumers' stability -- a measurement of the use of their credit and identity information."
According to ID Analytics, the provider's scores leverage the ID Network, a real-time, cross-industry compilation of identity information including data from more than one billion consumer transactions and more than two million confirmed identity frauds. ID Analytics' customers include leading financial institutions, retailers, healthcare companies, auto and mortgage lenders, telecommunications services, and government agencies. "Through our relationship with TransUnion, ID Analytics is now able to offer customers direct access to our solutions through a seamless integration with the TransUnion platform," said Bruce Hansen, chief executive officer for ID Analytics, in the announcement. "A broader range of organizations can leverage the information within the ID Network with very little investment in integration."
The solutions are currently offered in one of four ways: as an add-on to a TransUnion credit report, an add-on to Collection Prioritization Engine, as a stand-alone report from TransUnion or through prescreen and portfolio review reports sent directly from ID Analytics. ID Analytics' solutions are also available to TransUnion Direct self-service customers.