Getting Ahead of Change with Smarter Decisions

Ezra Becker
Blog Post06/01/2016

Last week, TransUnion’s 2016 Financial Services Summit brought together lenders from around the world to discuss emerging trends, industry insights and key business questions shaping the financial services industry.

In attendance were representatives from 190 institutions across 14 countries, connecting during 3 days of analytic content presented as part of an ongoing dialogue to help guide our clients in an evolving marketplace.

The theme of this year's event was based on the value Smarter Decisions, and was designed to provide perspective based on the analytics applied by our research team to address our clients’ biggest challenges in the consumer credit marketplace.

The Summit opened with a keynote address by John Silvia, Ph.D., managing director and chief economist for Wells Fargo Securities, who presented detailed analysis of global economic drivers to set the stage for the event. Dominic Venturo, executive vice president and chief innovation officer at U.S. Bank, shared how his team of visionaries are using emerging technologies and business models to adapt to the modern consumer. To close, Nigel Morris, managing partner at QED Investors and co-founder of Capital One Financial Services, delivered candid commentary on alternative lending, innovation, disruption, technology and digitalization. Many thanks to these three influential thought leaders for joining us to offer additional context around the theme of this year’s Summit.

Alongside these guests, our subject matter experts and research team took to the main stage and conducted breakout sessions, sharing research on the critical, diverse questions lenders are asking to better inform universe expansion and build risk strategies. From using mortgage inquiries to identify in-market customers for credit card and auto products, to using alternative data to make more informed decisions based on customer lifecycle events, the topics illustrated marketplace trends and how to strategically leverage these insights.

In his remarks during the Summit, Steve Chaouki, executive vice president of TransUnion’s Financial Services division, stressed how TransUnion has evolved and built solutions as a result of these continuing conversations and interactions with our customers. In the past year alone, we have launched our intelligence tool PramaSM to help benchmark against the marketplace; CreditVision® LinkSM, a groundbreaking risk scoring model that incorporates both trended credit data and diverse alternative data assets; and acquired Trustev digital verification technology to elevate our fraud and identity management capabilities, to name a few. Every day, we’re looking for new ways to deliver excellence to our forward-thinking clients, and we’re thankful for the customers who joined us for our annual showcase of that thinking.

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