New Automotive Market Intelligence Solution from TransUnion and IHS Markit Combines Depersonalized Credit and Anonymized Vehi...
October 28 2019 - 7:00AM
In the competitive and evolving world of auto finance, lenders
require the ability to conduct powerful statistical queries to gain
a more comprehensive understanding of the market. The Catalyst for
Insight – Credit Module, announced today at Auto Finance Summit,
addresses this need and will help lenders optimize their growth and
risk management strategies.
The solution is a collaboration between
TransUnion (NYSE: TRU) and IHS Markit (NYSE: INFO) and provides
customers with on-demand access to 5+ years of depersonalized
credit data. The Catalyst for Insight – Credit Module offers
depersonalized credit data – including credit tier, loan terms and
monthly payment, among other attributes – with anonymized new and
used vehicle registration data of more than 270 million vehicles in
the U.S. market. The user-friendly interface offers powerful
visualizations that allow customers to run internal analyses and
create custom reports to make faster and more informed
decisions.
“Auto lenders need to evaluate more than
depersonalized credit data when setting business strategies,” said
Satyan Merchant, senior vice president and automotive business
leader at TransUnion. “The blend of TransUnion’s statistical
depersonalized credit data with anonymized vehicle registration and
selling dealer data from IHS Markit allows auto lenders to monitor
market share and establish and track sales strategies by territory,
evaluate underwriting and pricing strategies, define attractive new
territories to support their growth aspirations and adapt to
dealers’ evolving needs.”
Traditionally lenders have had access to a
limited scope of data or a narrow set of pre-defined reports. The
breadth and depth of the Catalyst for Insight – Credit Module’s
data sources positions the solution as a leading market
intelligence tool in the auto industry. The integration of
supplemental sources offers enhanced data coverage for attributes
such as vehicle type, loan details, loan-to-value, and selling
dealer information. Proprietary VIN decoding software from IHS
Markit provides an estimated 2-5% lift in accuracy over
state-supplied data. The simple point-and-click interface and
superior customization features offer flexibility for ad hoc and
interactive queries. As a result, customers can instantly pull
detailed market intelligence reports and turn those insights into
action.
“The powerful analytic capabilities of this
solution offer lenders the information they need to better
understand the market and make more informed decisions. As a
result, they can set effective business strategies to mitigate risk
and identify growth and revenue opportunities,” said Joe LaFeir,
senior vice president - automotive, IHS Markit.
Please visit
www.transunion.com/product/catalyst-for-insight-credit-module for
more information on the Catalyst for Insight - Credit Module.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion,
we realize that. We are dedicated to finding innovative ways
information can be used to help individuals make better and smarter
decisions. We help uncover unique stories, trends and insights
behind each data point, using historical information as well as
alternative data sources. This allows a variety of markets and
businesses to better manage risk and consumers to better manage
their credit, personal information and identity. Today, TransUnion
has a global presence in more than 30 countries and a leading
presence in several international markets across North America,
Africa, Europe, Latin America and Asia. Through the power of
information, TransUnion is working to build stronger economies and
families and safer communities worldwide.
We call this Information for Good.®
http://www.transunion.com/business
About IHS Markit
(www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in
critical information, analytics and solutions for the major
industries and markets that drive economies worldwide. The company
delivers next-generation information, analytics and solutions to
customers in business, finance and government, improving their
operational efficiency and providing deep insights that lead to
well-informed, confident decisions. Headquartered in London, IHS
Markit has more than 50,000 business and government customers,
including 80 percent of the Fortune Global 500 and the world’s
leading financial institutions.
Contact |
Dave
Blumberg |
|
TransUnion |
|
|
E-mail |
david.blumberg@transunion.com |
|
|
Telephone |
312-972-6646 |
|
|
|
|
Contact |
Michelle Culver |
|
IHS Markit |
|
|
E-mail |
Michelle.Culver@ihsmarkit.com |
|
|
Telephone |
248-728-7496 |
TransUnion (NYSE:TRU)
Historical Stock Chart
From Aug 2024 to Sep 2024
TransUnion (NYSE:TRU)
Historical Stock Chart
From Sep 2023 to Sep 2024