Chicago and Hong Kong, (ANTARA News/PRNewswire-AsiaNet) - 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 life cycle," 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
CONTACT: Clifton M. O'Neal of TransUnion,
+1-312-985-2540
coneal@transunion.com
Web site: http://www.transunion.com/
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 life cycle," 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
CONTACT: Clifton M. O'Neal of TransUnion,
+1-312-985-2540
coneal@transunion.com
Web site: http://www.transunion.com/
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