Solution becomes first credit scoring tool to help businesses reduce delinquency CHICAGO and HONG KONG, June 25
CHICAGO and HONG KONG, June 25 /PRNewswire/ -- TransUnion today announced
the launch of Personal Loan Score, the industry's first credit scoring tool
designed to help businesses reduce delinquency of unsecured loans for the Hong
Kong market. This scoring solution assists businesses in predicting future
loan performance and assesses the value of a loan over the next 12 months.
By providing innovative evaluation and insight into potential customers'
credit scores, the Personal Loan Score can help Hong Kong's businesses make
more informed and strategic decisions about attracting the right prospects.
Using this score, businesses can manage their risk exposure with increased
accuracy, which helps to drive revenue and decrease collection costs.
"A proven scoring system -- geared toward mitigating unsecured loan risk
-- is a powerful tool for businesses to assess initial loan applications,"
said TransUnion's Lawrence Tsong, managing director. "We expect the Personal
Loan Score to be the standard for credit risk assessment related to unsecured
loans in the Hong Kong market."
TransUnion's Personal Loan Score is specifically tailored for Hong Kong, a
market where the quantity of credit data continues to evolve. Now, businesses
will be able to enhance modeling for customer acquisition and segmentation
practices, which will add value to current operation procedures and business
processes.
"Evaluation of consumer lending habits has been at the forefront of the
industry, with businesses wanting the necessary tools to make strategic,
profitable decisions throughout the customer lifecycle," said Tsong. "With
TransUnion's Personal Loan Score, businesses will gain invaluable insight into
the credit lifecycle, providing actionable results to minimize future
delinquencies."
To learn more about the Personal Loan Score and how you can use it to
manage risk more effectively, please contact Michael Lo at
michaellohk@transunion.hk.
About TransUnion
As a global leader in credit and information management, TransUnion
creates advantages for millions of people around the world by gathering,
analyzing and delivering information. For businesses, TransUnion helps improve
efficiency, manage risk, reduce costs and increase revenue by delivering
comprehensive data and advanced analytics and decisioning. For consumers,
TransUnion provides the tools, resources and education to help manage their
credit health and achieve their financial goals. Through these and other
efforts, TransUnion is working to build stronger economies worldwide. Founded
in 1968 and headquartered in Chicago, TransUnion has employees in 25 countries
on five continents. http://www.transunion.com
SOURCE TransUnion
