TransUnion Business Insights - Episodes Tagged with “Leadership”

Credit Week Recap and Data Solutions Fit for the Modern Economy Discussion

TransUnion — Fri, 12 Jul 2024 16:15:00 +0100

Caroline Fowler, Director of Product – Consumer Interactive, TransUnion, holds the mic for this episode and is joined by colleagues, Dennis Bishop and Glyn Cowlishaw. Dennis is an expert in credit data, whilst Glyn advises our customers on fraud and identity solutions.

The show starts with a discussion of Credit Week (Credit Strategy's new flagship event) which took place this June. Each contributor picks out their own highlight from the event and explains why this example resonated with them. The conversation moves on to the development of data solutions attuned to current consumer and business needs. Glyn talks about the spikes we are seeing in different fraud types (as documented in our 2024 Omnichannel Fraud Report) and the opportunity to educate consumers better around fraud risk and online safety. Dennis discusses the current economic situation, consumer sentiment and advances in affordability data in the form of trended affordability and how that helps businesses tailor their approach to individual consumers.

We wrap by shining a lens on product innovation. We explore how NPD can create more good consumer outcomes during the lending experience and how fraud and identity solutions (such as document verification and biometrics) can help businesses keep pace with criminals and authenticate more good customers vs stopping the fraudsters and support streamlined reauthentication processes that strengthen the customer experience.

Cyber Incident Response Landscape: Looking Back at 2023, Planning for 2024 and Exploring the Psychological Impact of Ransomware

TransUnion — Wed, 21 Feb 2024 12:30:00 +0000

In this episode, Mark Read, Head of Data Breach Solutions at TransUnion UK, talks to George Chaisty, a Partner at the international law firm Kennedys Law LLP, and Cameron Carr, Managing Partner for Mullen Coughlin, to get a better understanding of the current cyber threat landscape.

Off the back of a busy 2023 and with Mark attending February’s IAPP Data Protection Intensive 2024 event in London, the first part of this podcast reflects on the dominant and emerging methods being used by threat actors. Cameron, Mark and George use this scene setting as an entry point into the recent Royal United Services Institute, (RUSI) paper which explores the harms caused by ransomware to individuals, organisations and society.

RUSI is the world’s oldest and the UK’s leading defence and security think tank, and this document is an important industry talking point. Our experts discuss the psychological impact ransomware can have on individuals directly (first-order harms) and indirectly (secondary-order harms) and address key issues that businesses need to consider when mitigating a cyber incident that includes breach fatigue, impact on front line staff and customer care.

We wrap up with insights into what industry professionals can expect to see from threat actors in the coming year and identify the resources that will need to be carefully marshalled in response to these threats.

For more information on how your organisation can look to counter the threat of a data breach, download our dedicated ebook or get in touch with Mark directly.

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.

A Modern Identity Crisis: How The Digital Age Blurs The Lines Between Trust, Risk and Authenticity

TransUnion — Mon, 04 Dec 2023 15:00:00 +0000

With bad actors using sophisticated technology and PII they’ve amassed online, establishing trust and detecting risk is increasingly challenging. This episode, clipped from our panel discussion, 'A Modern Identity Crisis: How The Digital Age Blurs The Lines Between Trust, Risk and Authenticity' (at the TransUnion FUTURE Summit 2023) takes a deep dive into the latest fraud trends.

The panel was chaired by Chad Reimers, GM: Fraud and Identity Solutions, TransUnion UK, and featured:

Harriet Sloan, Head of UK Fraud and Identity Consulting and Analytics, TransUnion
Glyn Cowlishaw, Head of UK Fraud and Identity Pre-Sales, TransUnion
Devon Smith, Director of Strategic Growth, NeuroID

Topics include emerging fincrime and cybercrime threats, such as no intent to pay, money mules, organised 3rd party fraud and targeted online attacks, and how consumer attitudes towards online crime are evolving. The panellists share the patterns they're seeing emerge across sectors and outline forward-thinking strategies that can help improve performance and enable businesses and consumers transact with confidence.

For more information on how TransUnion's TruValidate solution can help your business better detect and identify fraudulant activity visit our solution and product pages.

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

Building Meaningful Lending Experiences: How to Think Like A Gen Z Consumer

TransUnion — Thu, 04 May 2023 11:45:00 +0100

As Gen Z and young Millennials move out of higher education and into the workplace, they're actively seeking to solve their banking and lending needs. This is likely to involve transacting with different financial service providers and using a diverse range of financial products and payment methods. We've produced this episode to help you understand what younger consumers think of credit, how they talk about money and their attitude towards financial management. It touches on the accessibility and availability of credit information, and the impact socioeconomic factors, such as the cost of living crisis, is having on budgeting and aspirations.

Hosting the show is TransUnion's James Robinson. James started at TransUnion in 2007 and has worked across account management, pre-sales and was recently promoted to managing director of our consumer interactive team. With over 10 years’ experience in delivering consumer credit solutions, James is a subject matter expert (SME) in consumer credit and open banking data, and the lending customer experience. Joining James is Ellie Austin-Williams, founder of This Girl Talks Money. Ellie aims to empower and help Gen Z and Millennials cultivate a positive money mindset. Working with this demographic, and brings a fresh, personable perspective to important issues such as financial education and money management.

Topics include; dissecting the ideal customer journey for Gen Z talking to innovation, personalisation, security and instant decisions; digital trust in an age of disinformation and scams; and their understanding and adoption of open banking.

Speakers:

James Robinson, managing director, consumer interactive, TransUnion in the UK
Ellie Austin-Williams, founder of This Girl Talks Money

Open Banking Steps Up: Bud Announcement, Fiinu Launch and the Evolution of Open Finance

TransUnion — Tue, 21 Mar 2023 11:45:00 +0000

The evolution of open banking continues apace. In this episode of Data, Strategies and Trust, we bring together some of the concepts and approaches which are driving the data solution forward and making it an increasingly recognisable piece of the banking customer journey.

Hosting the show is TransUnion's Celso Nogueira. Celso joined TransUnion’s Brazil business in 2016 and has specialised in the development of open banking solutions. At the beginning of 2023 Celso moved to TransUnion’s UK business as our director of product management – open banking. Bringing a global perspective to the table, Celso talks with Sam Buckley, senior credit consultant – open banking, about the adoption of open banking in the UK, emerging use cases that we are seeing in the market and the recent announcement of TransUnion going into partnership with Bud, which is designed to drive greater financial inclusion.

In the UK, TransUnion was an early advocate of open banking, viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Contributing to the discussion in this episode is Chris Sweeney, CEO of Fiinu, a consumer-focused fintech that secured its Financial Conduct Authority license in 2022. Chris' career to date has included being CEO at 118 118 Money and prior to that, CEO and Executive Director of Vanquis Bank. With over 20 years’ experience in consumer finance and retail banking, and a track record of driving businesses forward through strategic transformational change in the UK and overseas markets, he's helping to launch Fiinu this year.

Chris talks to Sam about crafting Fiinu’s consumer-facing proposition, how they are innovating by putting open banking at the beginning of the customer journey and the exciting ways it and open finance can help consumers access appropriate financial products.

Speakers:

Celso Nogueira, director of product management – open banking, TransUnion in the UK
Sam Buckley, senior credit consultant – open banking, TransUnion in the UK
Chris Sweeney, CEO of Fiinu

Useful links:

Celso quotes statistics around the increased consumer usage of open banking from the OBIE
The consumer numbers that Chris (Fiinu) references are sourced from the FCA (33 million is from the FCA (19M arranged, 14M unarranged users)) and verified primary research conducted by Fiinu using bureau data (e.g. 16.5m is 14+2.5m as the unarranged market grew by 2.5M)
Sustainable Growth for Lenders: A guide for reaching and retaining the next generation