In light of what’s happening nowadays in the credit bureau space, TransUnion’s latest acquisition is aimed at bolstering its arsenal against fraud.
TransUnion recently announced that it bolstered its data and analytics capabilities with the acquisition of eBureau, a leading provider of custom-analytic solutions with both credit-risk and anti-fraud applications.
The company highlighted eBureau’s rapid-model-development platform can enable financial institutions to quickly develop and deploy bespoke analytic models customized to their particular needs. A traditionally multi-month, cumbersome process can be reduced to a matter of days.
In areas like fraud, this enables customers to more quickly address changes in their external environment, according to TransUnion.
The purchase allows TransUnion to accelerate eBureau’s market presence by leveraging existing TransUnion relationships with thousands of financial institutions. Additionally, TransUnion will enhance the effectiveness of eBureau’s analytics with the introduction of new data assets, leading to greater accuracy and effectiveness to promote safer lending and less fraud.
The eBureau solution will be integrated into the Prama platform, allowing finance companies to move directly from market insight to action.
“TransUnion is committed to finding innovative ways information can be used to help businesses and consumers make smarter decisions,” said Chris Cartwright, president of TransUnion’s U.S. information services business unit. “eBureau is a strong addition to TransUnion’s business, enabling the company to fortify its analytics portfolio and extend its Prama platform, further enhancing our value proposition.”
TransUnion insisted the acquisition will benefit customers by reducing opportunities for error, maximizing model performance and enabling tight, transparent model governance.
“Together, TransUnion and eBureau will change the statistical score development process so that predictive analytics can be extended to organizations of varying size and capabilities,” said Dane Mauldin, executive vice president of TransUnion’s U.S. information services business unit. “With full access to TransUnion data and attributes, the eBureau model platform will dramatically expand its effectiveness and use cases for our customers.”
Gordy Meyer, chief executive officer of eBureau, added, “Joining TransUnion creates significant opportunities. TransUnion’s trusted brand and relationships combined with eBureau’s speed of development and delivery will result in further innovation for customers.”
The acquisition closed on Oct. 2, and financial terms were not disclosed.