Earlier today, we announced the acquisition of Trustev, a global provider of digital verification technology to multiple industries. With this acquisition, TransUnion is building on its success as a trusted source of fraud and identity management solutions.
Since 2014, TransUnion and Trustev have worked together on clever ways to factor in consumer data in our partnership, and as a combined company we can create a robust network of identity data, and build new and innovative ways of spotting fraud.
For customers today and in the future, this is great news, because it will allow us to deeply integrate and put our collective rich data sets and advanced technology to work in spotting fraudulent transactions even better than we already do. Our clients will be able to confirm: does a customer really live at this address; is this email really associated with them; can they answer challenge questions if needed? It’s a tremendously powerful combination for our fraud prevention focus.
TransUnion’s fraud and identity management solutions analyze identity data in order to reduce risk exposure and potential losses. Trustev’s technology evaluates online transactions in real time with machine learning, enabling customers to stop fraud and authorize legitimate purchases. Based in Cork, Ireland, Trustev has a strong record of innovation in profiling devices, analyzing digital behaviors and verifying online identities.
With Trustev’s online risk analytics and TransUnion’s deep datasets, this combination offers customers new levels of confidence to support account acquisition, account management and digital payments. TransUnion has already integrated Trustev technology into its ID Manager product, and customers have experienced up to a 60% decrease in fraud losses while boosting approvals.
ID Manager and other TransUnion fraud and identity management solutions are used by companies worldwide across a variety of industries including financial services, government, healthcare and insurance.