Loading, Please Wait...

CST: 13/11/2019 02:13:30   

New Automotive Market Intelligence Solution from TransUnion and IHS Markit Combines Depersonalized Credit and Anonymized Vehicle Registration Data for Greater Lender Insight

15 Days ago

Auto lenders to make better data-driven decisions through TransUnion and IHS Markit collaboration

CHICAGO, Oct. 28, 2019 (GLOBE NEWSWIRE) -- 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

Is your business listed correctly on America’s largest city directory network of 1,000 portals?