CHICAGO, June 18, 2020 (GLOBE NEWSWIRE) -- As millions of consumers continue to request and receive various payment accommodations, TransUnion (NYSE: TRU) today officially launched its CreditVision Acute Relief Suite to assist lenders and insurers in supporting consumers while still managing risk within their portfolio.
The CreditVision Acute Relief Suite features a set of 88 attributes that identify accounts and relationships receiving special accommodations for consumers currently in relief status. The attributes allow lenders and insurers to better understand how consumers and their accounts have been affected broken out by different credit products, the timing of when they were reported in these statuses and the balances of those accounts.
Tens of millions of consumers have been impacted by COVID-19 and TransUnions CreditVision Acute Relief Suite offers additional insight to create a more complete financial picture, said Curt Miller, executive vice president of credit risk solutions at TransUnion. The pandemic is complex, and as each lender-to-consumer arrangement may be different, there is no single, simple indicator of who is affected and who is not. By bringing better clarity, the suite helps ensure each person is reliably and safely represented in the marketplace, allowing businesses to transact with confidence and help support their customers. As the pandemic evolves, we will stay close to our customers and consumers, and continue to enhance and evolve our solution.
The suite also includes the CreditVision Acute Relief Risk Score, which uses trended usage and payment data as strong leading indicators of risk. The score can be coupled with other risk scores to help lenders and insurers protect their customers and portfolios while improving new account underwriting strategies. The CreditVision Acute Relief Suite is available across TransUnions traditional platforms as well as Prama DataHub, the only in-market, self-service data extraction analytic tool with archives back to 2000.
Number of accounts in relief programs continues to grow
Data from the CreditVision Acute Relief Suite point to the ever-changing number of consumers in either a forbearance, deferred payment or a natural disaster situation. As of May 31, the number of accounts in such programs totaled 106 million, nearly three times higher than the 35 million accounts observed on April 30. Accounts in such status included auto loans, credit cards, home equity lines of credit, mortgages, personal loans, retail credit cards and student loans, among other credit products.
Recent TransUnion consumer research found that three in four (74%) consumers who have a financial accommodation are extremely or very confident that they understand the terms. However, financially impacted consumers who have received an accommodation are more concerned about paying bills/loans (90%) vs. those who have not had an accommodation (60%). These individuals also are closer to being unable to pay bills/loans (4.9 weeks vs. 6.4 weeks for those without an accommodation).
Information about the CreditVision Acute Relief Suite can be found here and businesses interested in learning how to navigate the impacts of COVID-19 can gain insights from TransUnion webinars, blogs and more here. Additional resources for consumers looking to protect their credit during the COVID-19 pandemic can be found attransunion.com/covid-19.
About TransUnion (NYSE: TRU)TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.
http://www.transunion.com/business
See original here:
- Empowering Women - Self Empowerment, Personal & Spiritual ... [Last Updated On: March 25th, 2016] [Originally Added On: March 25th, 2016]
- Leadership Skills for Nurse Managers: Personal Empowerment [Last Updated On: March 26th, 2016] [Originally Added On: March 26th, 2016]
- Empowering Women - Self Empowerment, Personal & Spiritual ... [Last Updated On: March 26th, 2016] [Originally Added On: March 26th, 2016]
- Life Coaching for Personal and Professional Empowerment [Last Updated On: March 26th, 2016] [Originally Added On: March 26th, 2016]
- Empowerment - Wikipedia, the free encyclopedia [Last Updated On: March 26th, 2016] [Originally Added On: March 26th, 2016]
- Counselling and Hypnotherapy in ... - Personal Empowerment [Last Updated On: March 26th, 2016] [Originally Added On: March 26th, 2016]
- Personal Empowerment Group . com - Empowering You [Last Updated On: March 27th, 2016] [Originally Added On: March 27th, 2016]
- Personal Empowerment Programs - Empowerment Institute [Last Updated On: March 28th, 2016] [Originally Added On: March 28th, 2016]
- Series On Personal Empowerment at Psychology, Philosophy ... [Last Updated On: June 12th, 2016] [Originally Added On: June 12th, 2016]
- The Secrets of Personal Empowerment [Last Updated On: June 16th, 2016] [Originally Added On: June 16th, 2016]
- Personal Empowerment Solutions.com | All about Personal ... [Last Updated On: June 19th, 2016] [Originally Added On: June 19th, 2016]
- Personal Empowerment Solutions.com | All about Personal ... [Last Updated On: June 28th, 2016] [Originally Added On: June 28th, 2016]
- The Meaning of Empowerment - Powerful Information [Last Updated On: July 21st, 2016] [Originally Added On: July 21st, 2016]
- Mental Health Counseling, Personal Empowerment | Kansas ... [Last Updated On: August 29th, 2016] [Originally Added On: August 29th, 2016]
- Self Empowerment Appears Fundamental For Personal Development [Last Updated On: September 6th, 2016] [Originally Added On: September 6th, 2016]
- Minds Of Power: What Is Personal Empowerment? [Last Updated On: October 27th, 2016] [Originally Added On: October 27th, 2016]
- Authentic Empowerment - Personal and Professional Life ... [Last Updated On: November 21st, 2016] [Originally Added On: November 21st, 2016]
- Personal Empowerment Coach Certification - The S.W.A.T ... [Last Updated On: November 21st, 2016] [Originally Added On: November 21st, 2016]
- Bodies of Empowerment Personal Training [Last Updated On: November 29th, 2016] [Originally Added On: November 29th, 2016]
- Charlotte Kasl [Last Updated On: December 9th, 2016] [Originally Added On: December 9th, 2016]
- Empowerment and Strengths-Based Perspective: Social Work [Last Updated On: January 8th, 2017] [Originally Added On: January 8th, 2017]
- Empowerment Theory - Springer [Last Updated On: January 8th, 2017] [Originally Added On: January 8th, 2017]
- Top 100 Womens Empowerment Blogs | Psychology of Eating [Last Updated On: January 8th, 2017] [Originally Added On: January 8th, 2017]
- radKIDS.org - The national leader in children's safety [Last Updated On: January 8th, 2017] [Originally Added On: January 8th, 2017]
- Personal Empowerment Program : World Youth [Last Updated On: January 8th, 2017] [Originally Added On: January 8th, 2017]
- 'This is a phase of empowerment' - The Hindu [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- 'Pink' actress joins campaign for women empowerment - The New Indian Express [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- GHCM's new MD on the importance of mentorship, youth empowerment - Bizcommunity.com [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- 8 Steps to Personal Empowerment - Entrepreneur [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- Making Sure Our Longer Lives Are Healthy Ones - Next Avenue [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- Teachers ruling a stark reminder - Coast Reporter - Coast Reporter [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- UMass Amherst Celebrates Black Heritage Month - UMass News and Media Relations [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Help yourself, Feb. 8 | Town Crier | trib.com - Casper Star-Tribune Online [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Discover meaning at the Festival of Faiths, April 19 24 - Insider Louisville [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Another Voice: Land trust will empower Fruit Belt residents - Buffalo News [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Town Crier: Help Yourself - Casper Star-Tribune Online [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Boston's Office of Financial Empowerment Wants to Spread the Wealth - Next City [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- WE Are Women's Philanthropy - Jewish Exponent [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Genki Spark shines light on female empowerment through taiko - Daily Free Press (subscription) [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Empowering the Data Subject Manila Bulletin Business - Manila Bulletin [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- The Problem With A 'Shoppable' Presidency - Forbes [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- The Ripple - Olney Daily Mail [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Fire service receives funding to deliver 'personal development ... - Wiltshire Times [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Northwest Credit Union Foundation partners with BALANCE to provide personal finance training to MESA participants - CUinsight.com (press release) [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Bells University, New Horizons sign MoU On ICT empowerment for students - NIGERIAN TRIBUNE (press release) (blog) [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Mastering Trump's mastermind: Sebastian Gorka and the struggle between Islam and the West - EUROPP - European Politics and Policy (blog) [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Springs School News, February 16 - Springs - 27east - 27east.com [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- 5 Steps To Validate Your Business Idea Before Getting Started - Forbes [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Milk Makeup Is Celebrating Its Anniversary With A New Campaign - NYLON [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- 2017 Chicago Women's Conference & Expo Coming to South Suburban College on March 17th - eNews Park Forest [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Melinda Gates Credits Contraception With Her Personal and Professional Success - Slate Magazine (blog) [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- REBELLIOUS COACHING - Personal Empowerment Coaching [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Personal Empowerment | SkillsYouNeed [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- 4 Low-Cost Benefits That Majorly Boost Employee Healthiness - Tech.Co [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Shamanic Healer Anahata Ananda Shares Benefits of Breathwork for Healing Trauma and Planting Roots of Strength ... - Benzinga [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Ajit Pai's digital empowerment agenda is good news for rural America - The Hill (blog) [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- The truth about Ivanka's Trumped-up, me-first feminism - Macleans.ca [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Transformation of South Africa needs high sense of consciousness for social justice for success - Thought Leader [Last Updated On: February 22nd, 2017] [Originally Added On: February 22nd, 2017]
- Pink Gloves Boxing: Women's class focuses on empowerment ... - The Missoulian [Last Updated On: February 22nd, 2017] [Originally Added On: February 22nd, 2017]
- Teaching Our Kids Real from Fake - Huffington Post [Last Updated On: February 22nd, 2017] [Originally Added On: February 22nd, 2017]
- Shaking The Fear Of Breastfeeding In Public | The Huffington Post - Huffington Post UK [Last Updated On: February 22nd, 2017] [Originally Added On: February 22nd, 2017]
- OUR VIEW: On Presidents Day, we celebrate the good ones - East Oregonian (subscription) [Last Updated On: February 22nd, 2017] [Originally Added On: February 22nd, 2017]
- Impact 100 members tour remodeled STEP Training Center - TCPalm [Last Updated On: February 22nd, 2017] [Originally Added On: February 22nd, 2017]
- Bloomfield Company Uses Disney Princesses To Promote Female Empowerment - Patch.com [Last Updated On: February 25th, 2017] [Originally Added On: February 25th, 2017]
- Sri Sri Ravi Shankar conducts DSN Prog online - Daily Excelsior [Last Updated On: February 25th, 2017] [Originally Added On: February 25th, 2017]
- Viewpoints: The case for expanding Empowerment Scholarship Accounts - AZCentral.com [Last Updated On: February 25th, 2017] [Originally Added On: February 25th, 2017]
- Apple Music just released an album made on an iPhone ... - Computerworld [Last Updated On: February 25th, 2017] [Originally Added On: February 25th, 2017]
- Pushing past barriers: Program aims to foster empowering female relationships - Grand Forks Herald [Last Updated On: February 25th, 2017] [Originally Added On: February 25th, 2017]
- MILCK comes to Portland this week to emPOWer - Oregon Music News [Last Updated On: February 26th, 2017] [Originally Added On: February 26th, 2017]
- Sippican to Implement 'radKIDS' Defense Program - Wanderer [Last Updated On: February 26th, 2017] [Originally Added On: February 26th, 2017]
- Personal trainer focuses on client empowerment - Clearfield Progress [Last Updated On: February 26th, 2017] [Originally Added On: February 26th, 2017]
- Black History Month: Recovering Our Personal Narrative - Muslim Link [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Judge Holds NYPD's Feet to Fire on Press Credentials - Courthouse ... - Courthouse News Service [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Realizing Economic Empowerment For All Americans - Huffington Post [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Black Women Aren't Having Enough Orgasms And Their Careers Are To Blame Says Author - MadameNoire [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- This women's sport you've never heard of is taking Israel by storm - Jewish Telegraphic Agency [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Port Hope girls learn empowerment - Northumberland Today [Last Updated On: March 1st, 2017] [Originally Added On: March 1st, 2017]
- Federal Judge Says NYC's Regulation Of The Press Will Go On Trial - Village Voice [Last Updated On: March 1st, 2017] [Originally Added On: March 1st, 2017]
- Consult a psychic - for empowerment - Philly.com [Last Updated On: March 1st, 2017] [Originally Added On: March 1st, 2017]
- Digital Inclusion Summit: Training, Partnerships Are Key - Rivard Report [Last Updated On: March 2nd, 2017] [Originally Added On: March 2nd, 2017]