TransUnion Business Insights: Recent Episodes
TransUnion
Get an insider’s view into data, business strategies and trust. In each episode, industry experts join us to discuss key talking points in the world of technology. We’ll share new insights and perspectives on topics, such as how fraud is challenging FinTech growth; ways to develop award-winning, consumer-centric lending platforms; or the product set needed to optimise customer onboarding. You’ll learn more about the inner workings of TransUnion — one of the world’s leading insights and analytics companies — and how we bring our purpose of Information for Good® to life for individuals and communities.
In this episode, Mark Read, head of data breach solutions at TransUnion UK, talks to George Chaisty, a partner at the legal firm Kennedys Law LLP. George is part of Kennedys’ cyber and data risk team, and advises clients on a broad range of cyber incidents including ransomware and business email compromises. Using our recently published e-book Data Breach for Businesses (https://www.transunion.co.uk/lp/breach-ebook) as a starting point, Mark quizzes George on the current cyber threats facing businesses and what processes and resources need to be considered when building a robust data breach plan. Additionally, George identifies some of the common mistakes businesses make in their response actions. Key talking points in this podcast revolve around reputation management, supporting consumers and the timeframe you have to act within. We’ve recorded this podcast to provide a blueprint for professionals who are responsible for their organisation's data breach plan. The episode offers an in-depth explanation of what resources, teams and services go into making a robust data breach response. For those working in the industry and familiar with the topic, it can either validate your approach or offer nuggets of new and useful information. And for those tasked with developing a plan from scratch, it can hopefully provide a template for you to follow as you begin to document your process.
As digital crime evolves and fraudsters exploit changes in consumer behaviour, our host, Harriet Sloan, head of fraud consultancy and analytics, is joined by Jamie Bartlett, journalist and author of The Missing Cryptoqueen and The Dark Net to discuss: Fraud trends and the international nature of digital crime The impact of crime on consumers and the role education can play in mitigating risks of financial crime How technology is both an enabler and preventor of modern crime Plus, Jamie updates us on his search for Dr Ruja Ignatova. Dr Ruja is the only woman currently on the FBI’s Ten Most Wanted Fugitives list and the main protagonist in The Missing Cryptoqueen the award-winning podcast series Jamie produces with Georgia Catt. This espisode of Data, Strategies and Trust features key findings from our State of Omnichannel Fraud Report (https://www.transunion.co.uk/lp/transunion-2023-state-of-omnichannel-fraud-report). Our annual report features insights surrounding digital fraud trends, as well as practical steps businesses can take to mitigate synthetic identities, improve fraud detection, and reduce false positives.
One of the most pressing economic challenges stemming from the cost of living crisis is the growing concern around consumers' financial vulnerability. It is a high priority and concern for senior leaders across financial services, insurance, gaming, e-commerce and government. The publication of the Credit Information Market Study Interim Report and Discussion Paper (Nov 2022) — covering non-financial vulnerability and the need to ensure good customer outcomes — and the FCA’s new Consumer Duty regulations, emphasises the need for organisations to invest in data solutions and data science talent, adhere to evolving compliance requirements, be committed to customer care and have a strategic mindset. This podcast dives into the issue of financial vulnerability and discusses the changing regulatory landscape and the latest on the Consumer Duty. It features vox pops from the public talking about their financial concerns and how they are coping with the pressures on their household budgets, expert insights from decision makers in the credit space and an overview of the ways businesses can strengthen relationships with customers and improve their financial confidence. Contributors you'll hear from: * Sam Welch, Commercial Banking Director, TransUnion * Jonathan Baum, Non-Exec Board Member and Strategic Advisor * Caroline Evetts, Director of Risk & Compliance, TransUnion * Oli Lewis-Jones, Retail Conduct Risk and Regulation Consultant, Deloitte * James Robinson, Managing Director - Consumer Interactive, TransUnion Further insights * Create brighter futures with CreditView (https://www.transunion.co.uk/lp/creditview-ebook) e-Book * Emerging Financial Services Trends and The Future of Banking (https://www.transunion.co.uk/blog/emerging-financial-services-trends-and-the-future-of-banking)
At a time of economic uncertainty how can we better help the financially under-served and drive greater financial inclusion? In this podcast we focus on how we can improve consumers’ experience of credit against the backdrop of the cost of living crises, and give them greater confidence in their finances. Joining host Kelli Fielding, VP Consumer Interactive at TransUnion, are Alastair Douglas, CEO of TotallyMoney, and Sarah Taylor, Analytical Consultant, TransUnion. TransUnion Consumer Pulse research shows 70% of consumers think having access to credit is important to achieve their financial goals, but a recent white paper on the financially under-served, published by TotallyMoney, revealed 1 in 3 UK adults struggle to access mainstream lenders. These research pieces provide the starting point for a discussion that explains what financial inclusion actually means, why it is important, and why it offers lenders an opportunity to materially help improve consumers’ access to lending products, as well as their understanding of their financial situation. Our speakers also discuss advancements in digital customer experience and using innovation to foster loyalty. Research cited in this podcast can be found below: * TransUnion: Consumer Credit 2022 (Consumer Credit 2022) * TransUnion: Consumer Pulse Study (Consumer Pulse Study) * TotallyMoney: Overlooked and financially under-served white paper (https://www.totallymoney.com/financially-under-served-whitepaper.pdf)
In this episode we turn our attention to the UK gambling industry. According to UK Gambling Commission research (https://www.gamblingcommission.gov.uk/statistics-and-research/publication/statistics-on-participation-and-problem-gambling-for-the-year-to-march-2022), 43% of UK adults aged 16 and over participated in gambling in year to March 2022 (within a four week period). This includes the National Lottery, sports betting and online slot machines. The UK gaming industry has invested heavily in the move from bricks and mortar to omnichannel, the digital customer experience and adapting to evolving regulation. In this podcast we focus on socially responsible gambling through the lens of updates to UK gambling regulation and the growing cost of living crises. We ask: How can the UK gambling industry better protect consumers in 2022 and in the future? Joining host Ben Wade (TransUnion) are Luke Sugden (Flutter UK and Ireland), Tom Banks (Kindred Group), Dan Whitlam (GamCare) and Roberta Sossi (TransUnion). The discussion starts with the latest guidance published by the UK Gambling Commission, with our guests identifying key talking points and explaining how the industry is interpreting and responding to them. The conversation moves on to insights into consumer economic behaviour and attitudes, the protections players expect from operators and how this is shaping the digital customer experience. We wrap up by looking to the future and how advanced data insights and regulation could further help consumers and the industry. Contributors: * Ben Wade, Sector Lead - Gaming, TransUnion * Luke Sugden, Director of Risk and Safer Gambling, Flutter UK and Ireland * Tom Banks, Head of Corporate Affairs UK and Global, Kindred Group * Dan Whitlam, Head of Industry Standards, GamCare * Roberta Sossi, Senior Credit Consultant, TransUnion Further information: * Read up on TransUnion's ongoing Consumer Pulse research (https://www.transunion.co.uk/consumer-pulse-study), consumer research Roberta refers to in this episode * Find out how TransUnion works and partners with the gaming industry (https://www.transunion.co.uk/industry/gaming) * UK Gambling Commission June 2022 update: Customer interaction: formal guidance for remote gambling operators (https://www.gamblingcommission.gov.uk/licensees-and-businesses/guide/customer-interaction-formal-guidance-for-remote-gambling-operators)
In the UK we're five years into the open banking journey that’s enabled consumers to share their current account information securely with third-party providers in exchange for tailored financial products and services. The macroeconomic challenges of the cost of living crisis, the COVID-19 pandemic, as well as rising property and rental prices, are putting financial services and credit products under the microscope. In parallel, the technology is continuing to evolve with the Open Banking Implementation Entity's (OBIE) publication of the Open Banking Standard version 3.1.10, the final release under the Competition and Markets Authority (CMA) revised roadmap. This makes it an ideal time to dive into the world of open banking, to understand its development and potential to help consumers and businesses create better outcomes. In this episode regular host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by Praneeth Meka, Senior Director Data Science and Analytics, and Sam Buckley, Senior Credit Consultant in Open Banking, to explore open banking’s maturity curve, reflecting on consumer adoption, use cases and lessons learned, and ongoing innovation. In the UK, TransUnion was an early advocate of open banking (https://www.transunion.co.uk/product/open-banking-platform), viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Recent product development to our end-to-end solution includes enhancements during COVID-19 as consumer affordability became a key issue and our partnership with Credit Ladder to include property rental payments in credit reports (https://newsroom.transunion.co.uk/transunion-teams-up-with-creditladder-to-include-property-rental-payments-in-credit-reports/). Further insights into open banking from TransUnion: • The role of open banking in a polarised UK economy (https://www.transunion.co.uk/blog/the-role-of-open-banking-in-a-polarised-uk-economy) • Consumer Credit 2022: Responding to Challenge and Change (https://solutions.transunion.co.uk/consumer-credit-2022/) • Lending in a Time of Crisis ebook (https://solutions.transunion.co.uk/lending-in-a-time-of-crisis/)
This episode revolves around AltFi Festival of Finance 2022. TransUnion was the headline sponsor for the event (held 27-28 April), that brought together key players in the alternative finance and fintech space. Over the course of the two days the spotlight was shone on product development, industry-wide challenges and disruptive innovation. Host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by VP of FinTech, Steve Wishart, and Praneeth Meka, Senior Director Data Science and Analytics, to discuss some of the main themes that emerged during the festival. Asia asks Steve and Praneeth about the importance of trust in the digital economy, the evolution of buy now pay later (BNPL) from version 1.0 to 2.0 and what this could mean for consumers and businesses, customer experience (CX) and the opportunity presented by open banking. Useful links: * The TransUnion consumer research white paper referenced by Asia and Steve is the Consumer Credit 2022: Responding to Challenge and Change (https://solutions.transunion.co.uk/consumer-credit-2022). Download it to get a better understanding of consumer attitudes and preferences towards finances in 2022 * Read up on how TransUnion are helping to shape the future of BNPL - TransUnion Is First UK Credit Reference Agency To Accept Buy Now, Pay Later Data (https://newsroom.transunion.co.uk/transunion-is-first-uk-credit-reference-agency-to-accept-buy-now-pay-later-data/) * More information on the AltFi Festival of Finance 2022 can be found on the event microsite (https://www.altfi.com/events/the-altfi-festival-of-finance-2022)
According to Technation.io, UK tech VC investment is the third biggest in the world, hitting a record high of $15bn in 2020, with the UK tech startup and scaleup ecosystem valued at $585B. These tech pioneers are disrupting the status quo, creating new digital experiences and standards. This episode focuses on tech startups, covering those going through initial funding rounds to organisations wanting to evolve their data strategy as they grow and navigate the challenges of a maturing business. Presented by Lisa Meynell, Account Director in the FinTech team here at TransUnion UK, our expert guests are: * Dai Duong, a Partner at KPMG. Dai leads the Modelling and Analytics business in the UK, with a particular focus on Financial Services clients. * Gareth Howell, Head of Data Solutions at TransUnion in the UK, responsible for data strategy and the inward supply of new data sources and leveraging existing assets. Topics covered in this podcast include emerging trends in the startup space, the components and commercial benefits of a robust data strategy, and the skills and team mix needed to make this work. Additional notes: * the last funding round mentioned approx 9 minutes into the podcast was July 2021.
How has COVID-19 influenced the way lenders, telco, insurance, automative businesses and retailers, engineer their digital onboarding flows? And are these changes permanent and what innovations are on the horizon? In this podcast we dive into the role fraud and identity solutions have in creating secure and outstanding customer experiences. Since 2020, digital fraud and financial crime has exploded, negatively impacting on consumer and business confidence and trust. Delivering a great onboarding experience during customer acquisition is a universal ambition for digital leaders. To demonstrate common dominators and differences across borders, and provide the best insights possible, we've brought in expert perspectives from different markets. Presenter Josh Gunnell, Director - Fraud Solutions TransUnion in the UK, is joined by: * Patrick Boudreau - Head, Identity Management & Fraud, TransUnion, Canada * Megha Khetarpal- Director, Fraud Solutions Lead for Emerging Markets, TransUnion, India Topics covered include unlocking friction-right design, customer experience across the customer journey and awareness of fraud threats in the digital world. Research cited by Megha Khetarpal: * Question 1: Using findings from TransUnion's ongoing Consumer Pulse research survey. (https://www.transunion.com/consumer-pulse-study) Each quarter TransUnion tracks consumer attitudes and experiences towards credit, fraud and related themes. Questions 2 response: Insights referenced come from a Deloitte study into the gap between what consumers think of financial services institutions vs. their favourite technology brand. Research cited: Accelerating Digital Transformation in Banking, July 2018, Deliotte Insights. (https://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-accelerating-digital-transformation-in-banking.pdf)
Consumer expectations of digital experiences are transforming at speed, whilst the economy and household budgets adapt to changing dynamics. Our TransUnion Summit 2021 was themed around the 'Future'. The event explored the ongoing realignment of consumer and business relationships during COVID-19, and focused on creating a better understanding of consumer needs, industry developments and approaches to inform future growth plans. Speakers from different sectors shared big, renewable ideas, took deep dives into disruptive solutions and explained important emerging data trends that can help empower you and your team to be successful in the future economy. This episode of the TransUnion Data, Strategies and Trust, podcast series features a panel discussion recorded live at our event. It covers some of the key economic, consumer and technology topics that are - and will continue - to dominate into 2022. The panel of experts that you'll hear from: Sam Welch, Strategic Accounts Sales Director, TransUnion (UK) Shail Deep, Chief Product Officer , TransUnion (UK) Jonathan Baum, Banking Expert and Advisor to TransUnion Simon Taylor, Barclaycard Listen to the panel discuss the current economic outlook, consumer adoption and future direction of Buy Now Pay Later (BNPL), consumer credit education and embracing Environmental, Social, and Governance (ESG).
Generation Z will soon become the biggest cohort of UK consumers, wielding immense spending power and influencing the direction of digital platforms. This podcast discusses TransUnion’s Q3 2021 Consumer Pulse research, that found demand for credit is rising for younger consumers: 42% of Gen Z and 34% of Millennials plan to apply for credit compared to just 9% of Baby Boomers With those Gen Zers planning to apply for credit most likely to use credit cards, with over one in three looking to apply for a new card The rise in credit card providers, new forms of credit such as Buy Now Pay Later (BNPL), and emergence of subscription service models, indicate that Generation Zs behaviours are beginning to reshape the financial landscape. Listen to hear more on Gen Z and how FinTechs, and lenders more broadly, can work with them and foster loyalty. Our expert guests are: * Steve Wishart. Head of FinTech, TransUnion UK * Kelli Fielding. Managing Director of Consumer Markets, TransUnion UK This episode references one of the reports available to download now from our website: TransUnion sponsored The Economist Intelligence Unit to conduct a global survey of 1,610 executives — delving into their mindsets and perceptions around fraud, security and commerce trends in the digital domain. New Dimensions of Change: Building trust in a digital consumer landscape report, created by The Economist Intelligence Unit and sponsored by TransUnion is available to download now on our website: https://solutions.transunion.co.uk/digitalconsumertrust/ *Source: Generation Z: the new face of financial power | The Independent | The Independent
As a business we seek to empower, support and inspire women both across our organisation and within our wider communities. Women @ TU is a global network group, open to all TransUnion employees passionate about promoting women’s growth. It spans networking, education, personal development, social impact, mentoring and supporting working parents, and creates an opportunity for women to come together to effect positive change. For this episode we're excited to hand over the mic to our Women @ TU team who help to deliver that message. Hosted by Louise North, Senior Account Director for TransUnion, founding member and external community chair for Women @ TU, Louise is joined by a panel of successful and passionate women from HSBC, Google and TransUnion. The panel share their own career experiences and challenges to date, talking through topics such as navigating a traditionally male-dominated environment; supporting women in their careers, and the impact that balancing a family alongside a career can have on progression. Our guests on this episode are: * Shail Deep, SVP Chief Product Officer for TransUnion Europe * Fiona Anderson, Head of Everyday Banking, HSBC * Jenny Welch, Industry Manager - Retail, Google
Digitisation — the fundamental pillar of FinTech — has become more critical to businesses since the onset of COVID-19. This is evidenced by the rise in demand for online finance, and evolution of consumer-facing platforms and services — all set against a background where consumer fraud is now mainstream news. Our experts will explore the changing fraud landscape and its knock-on effect on consumer trust and CX across generations, and how FinTechs are likely to adapt to shifting consumer preferences — and new and fierce competitors — to maintain their innovative edge. Our expert guests are: * Steve Wishart, Head of FinTech, TransUnion UK * Josh Gunnel, Head of Fraud Pre-Sales, TransUnion UK This episode references one of the reports available to download now from our website: TransUnion sponsored The Economist Intelligence Unit to conduct a global survey of 1,610 executives — delving into their mindsets and perceptions around fraud, security and commerce trends in the digital domain. New Dimensions of Change: Building Trust in a Digital Consumer Landscape report, created by The Economist Intelligence Unit and sponsored by TransUnion, is available to download now on our website: https://solutions.transunion.co.uk/digitalconsumertrust/