TransUnion Business Insights - Episodes Tagged with “Financial Services”

Enhanced Consumer Insights: Introducing the Vulnerability Registration Service, Evolving Data Strategies and Credit Week

TransUnion — Fri, 24 May 2024 13:00:00 +0100

Ever wondered what type of consumer data points could have a transformative impact on transactions between consumers and businesses?

In this episode Gareth Howell, Head of Data Solutions at TransUnion in the UK, talks with Helen Lord, CEO of the Vulnerability Registration Service (VRS) about the power of new types of consumer insights, the evolution of the data ecosystem and the regulatory drive to improve customer outcomes.

A non-profit organisation, VRS was established in 2016 and allows individuals with different vulnerability types (both financial and non-financial) to self-register issues such as financial vulnerability (for example an ‘unpaid carer’ flag), physical disabilities or addictions (including drugs and gambling), and appends that information to files with actions, such as requesting lenders decline them for credit, or informing a provider that they need more support for access to products or services (circumstances in this scenario could include impaired sight or hearing).

Gareth and Helen discuss why understanding behaviours and vulnerabilities that are typically ‘unseen’ when making credit decisions has the potential to create better outcomes for consumers and businesses, and walk through how this can be turned into reality.

We close with Gareth signposting his keynote at Credit Week (June 17-19, 2024). Credit Week is a key event for industry leaders to come together and discuss their latest challenges and emerging topics, shape opinion, and share and learn from best practice examples. The agenda’s focus on consumer vulnerability aligns with innovative work TransUnion are doing with data, product development and consultancy work, and more broadly our commitment to using data and insights to drive financial inclusion and consumer empowerment.

Further reading:
[* A Compelling Human and Economic Case for Transforming How We Understand Consumer Vulnerability

* Open Banking: Unlock the Potential of Your 2024 Customer Strategy

Masterclass: Leveraging Credit Education to Strengthen Customer Loyalty, Trust and Engagement

TransUnion — Tue, 16 Jan 2024 10:30:00 +0000

Curious about the potential of credit education and monitoring tools to deliver richer, mutually beneficial relationships for consumers and financial service providers? This timely episode (recorded at the FUTURE Summit 2023) can help you get a better understanding of how the credit monitoring tools and features, a familiar characteristic of modern digital financial platforms, can engage and educate customers to make better credit decisions and build loyalty and trust.

In this podcast you'll hear from James Robinson, Managing Director of Consumer Interactive at TransUnion UK and Alex Cook, Product Manager at NewDay.

James and Alex share their stories and insights on why they embrace credit education and the important role it plays in supporting consumer financial well-being. Topics covered include:

The need to help consumers better understand their credit status and tools that can help improve improve their financial confidence
NewDay's evolving journey with credit education
The future of credit monitoring tools and next-generation lending experiences

Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide to our award-winning CreditView solution that's helping brands build next-gen financial services platforms. To get your copy** [head over to our landing page]**(https://www.transunion.co.uk/lp/creditview-ebook)

Knowing Your Customer: What's Holding You Back From Greatness?

TransUnion — Sun, 10 Dec 2023 10:00:00 +0000

Data advancements have the potential to improve how well you know your customer and drive outstanding customer experiences and personalised services. With regulatory evolution, including the new Consumer Duty, and intense market competition, the right approach could unlock growth and be a unique selling point.

In this session, recorded at the TransUnion Summit 2023, Sam Welch (Commercial Banking Director, TransUnion) asks industry leaders from different sectors: How big is the gap between potential and reality, and what more can be done to get to know customers better?

Sam poses a set of questions on key topics to our panel of financial services SMEs, and elicits authentic insights on key challenges around an effective data strategy, how to design an advance customer experience and changing consumer attitudes and economic behaviour.

Panel chair:

Sam Welch, Commercial Banking Director, TransUnion

Panel:

Ranil Boteju is Chief Data & Analytics Officer, Lloyds Banking Group
Desmond McNamara, CRO, Zilch
Darren Kelk, MD, Ascendant Solutions
Stuart Daniels, Chief Credit Officer, FGH

Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide on new use cases for Open Banking and an overview on how TransUnion and Bud are building the next generation of Open Banking solutions. To get your copy, head over to our landing page.

Hyperfocusing on Consumer Outcomes: The New Consumer Duty and Financial Vulnerability

TransUnion — Tue, 27 Jun 2023 11:30:00 +0100

One of the most pressing economic challenges stemming from the cost of living crisis is the growing concern around consumers' financial vulnerability. It is a high priority and concern for senior leaders across financial services, insurance, gaming, e-commerce and government. The publication of the Credit Information Market Study Interim Report and Discussion Paper (Nov 2022) — covering non-financial vulnerability and the need to ensure good customer outcomes — and the FCA’s new Consumer Duty regulations, emphasises the need for organisations to invest in data solutions and data science talent, adhere to evolving compliance requirements, be committed to customer care and have a strategic mindset.

This podcast dives into the issue of financial vulnerability and discusses the changing regulatory landscape and the latest on the Consumer Duty. It features vox pops from the public talking about their financial concerns and how they are coping with the pressures on their household budgets, expert insights from decision makers in the credit space and an overview of the ways businesses can strengthen relationships with customers and improve their financial confidence.

Contributors you'll hear from:

Sam Welch, Commercial Banking Director, TransUnion
Jonathan Baum, Non-Exec Board Member and Strategic Advisor
Caroline Evetts, Director of Risk & Compliance, TransUnion
Oli Lewis-Jones, Retail Conduct Risk and Regulation Consultant, Deloitte
James Robinson, Managing Director - Consumer Interactive, TransUnion

Further insights

Preparing Your Business for Gen Z

TransUnion — Thu, 07 Oct 2021 15:00:00 +0100

Generation Z will soon become the biggest cohort of UK consumers, wielding immense spending power and influencing the direction of digital platforms. This podcast discusses TransUnion’s Q3 2021 Consumer Pulse research, that found demand for credit is rising for younger consumers:

42% of Gen Z and 34% of Millennials plan to apply for credit compared to just 9% of Baby Boomers
With those Gen Zers planning to apply for credit most likely to use credit cards, with over one in three looking to apply for a new card

The rise in credit card providers, new forms of credit such as Buy Now Pay Later (BNPL), and emergence of subscription service models, indicate that Generation Zs behaviours are beginning to reshape the financial landscape.

Listen to hear more on Gen Z and how FinTechs, and lenders more broadly, can work with them and foster loyalty.

Our expert guests are: 

Steve Wishart. Head of FinTech, TransUnion UK 
Kelli Fielding. Managing Director of Consumer Markets, TransUnion UK

 
** This episode references one of the reports available to download now from our website:    **

TransUnion sponsored The Economist Intelligence Unit to conduct a global survey of 1,610 executives — delving into their mindsets and perceptions around fraud, security and commerce trends in the digital domain.  

New Dimensions of Change: Building trust in a digital consumer landscape report, created by The Economist Intelligence Unit and sponsored by TransUnion is available to download now on our website: https://solutions.transunion.co.uk/digitalconsumertrust/  

  *Source: Generation Z: the new face of financial power | The Independent | The Independent

Women @ TU Takeover – Supporting Women for Success

TransUnion — Tue, 21 Sep 2021 15:00:00 +0100

As a business we seek to empower, support and inspire women both across our organisation and within our wider communities.

Women @ TU is a global network group, open to all TransUnion employees passionate about promoting women’s growth. It spans networking, education, personal development, social impact, mentoring and supporting working parents, and creates an opportunity for women to come together to effect positive change.

For this episode we're excited to hand over the mic to our Women @ TU team who help to deliver that message. Hosted by Louise North, Senior Account Director for TransUnion, founding member and external community chair for Women @ TU, Louise is joined by a panel of successful and passionate women from HSBC, Google and TransUnion.

The panel share their own career experiences and challenges to date, talking through topics such as navigating a traditionally male-dominated environment; supporting women in their careers, and the impact that balancing a family alongside a career can have on progression.

Our guests on this episode are:

Shail Deep, SVP Chief Product Officer for TransUnion Europe
Fiona Anderson, Head of Everyday Banking, HSBC
Jenny Welch, Industry Manager - Retail, Google

Fraud Trends Within FinTech

TransUnion — Wed, 14 Jul 2021 14:00:00 +0100

Digitisation — the fundamental pillar of FinTech — has become more critical to businesses since the onset of COVID-19. This is evidenced by the rise in demand for online finance, and evolution of consumer-facing platforms and services — all set against a background where consumer fraud is now mainstream news.

Our experts will explore the changing fraud landscape and its knock-on effect on consumer trust and CX across generations, and how FinTechs are likely to adapt to shifting consumer preferences — and new and fierce competitors — to maintain their innovative edge.

Our expert guests are:

Steve Wishart, Head of FinTech, TransUnion UK
Josh Gunnel, Head of Fraud Pre-Sales, TransUnion UK

**This episode references one of the reports available to download now from our website:

**TransUnion sponsored The Economist Intelligence Unit to conduct a global survey of 1,610 executives — delving into their mindsets and perceptions around fraud, security and commerce trends in the digital domain.

New Dimensions of Change: Building Trust in a Digital Consumer Landscape report, created by The Economist Intelligence Unit and sponsored by TransUnion, is available to download now on our website: https://solutions.transunion.co.uk/digitalconsumertrust/