Company description "Transunion"
In 1968, the Union Tank Car Company, a railcar leasing operation, created TransUnion as its parent holding company. For the next 30 plus years, we grew to become one of the world's leading business intelligence providers, maintaining one of the largest collections of consumer information. In 1969, we recognized an opportunity to grow a new business using our technical expertise. We acquired the Credit Bureau of Cook County (CBCC), which manually maintained 3.6 million card files in 400 seven-drawer cabinets. Soon after the acquisition of CBCC, we became the first company in the credit reporting industry to replace accounts receivable data with automated tape-to-disc transfer, drastically cutting the time and cost to update consumer files. Early in our history, we recognized the enormous benefit that a national, online information system would bring to clients and responded with the first online information storage and retrieval data processing system. This system provided credit grantors across the country with one source for fast and valuable consumer credit information. Throughout the 1970s and 1980s, we continued to expand our facilities and capabilities through investments in technology and strategic growth initiatives and acquisitions. In 1988, we achieved full coverage in the United States, maintaining and updating information on virtually every market-active consumer in the country. Through the 1990s and the turn of the century, we've extended operations beyond the credit reporting industry and business-to-business offerings. Our real estate division offers lenders nationwide access to prospects, the ability to originate and close residential loans and manage the post-closing process. We also strengthened our analytics and decisioning capabilities by acquiring one of the most powerful technologies for high-volume, individual-level decisions about customer prospecting, acquisition and management.
Chicago, Aug 28, 2006 – South Africa’s fight against check fraud has been significantly enhanced by TransUnion’s acquisition of Cheque Guarantee Services (CGS), the Chicago-based company announced today. Terms of the deal were not disclosed. The merged operation, TransUnion Cheque Guarantee Services, draws on TransUnion’s business intelligence capabilities and a unique high-tech system of check transaction analysis and tracking developed by CGS, a leading South African check verification company, to assist South African retailers in managing their check risk more effectively. "Whether it’s alone, or through strategic partnerships or acquisitions, TransUnion is continually looking for ways to leverage its global experience in the development and deployment of risk management solutions," said Ralph Sorice, president of TransUnion International. "This acquisition brings together South Africa’s most effective verification parties – CGS and Vericheck – under the TransUnion banner, making it easier and more cost-effective for businesses to accept check payments with confidence." With TransUnion Cheque Guarantee Services, the risk of payment by check is assessed and the transaction is approved or declined. This process occurs in exactly the same way as a credit card or debit card transaction is approved or rejected – which typically takes less than 20 seconds. Although some South African retailers may perceive a greater risk associated with checks, they nevertheless remain a safer and more convenient payment method than cash for all parties involved in a transaction. The combined business intelligence and technology platforms of TransUnion and CGS will make passing off bad checks on unsuspecting retailers that much more difficult. TransUnion plays a pivotal role in the financial sector of South Africa’s marketplace. In addition to business intelligence solutions, TransUnion provides credit reports on individuals and companies according to the needs of its customer subscribers to assist them in reducing and managing their credit risks. Customers include banks, auto and home finance companies, credit card issuers, as well as all manner of retailers and businesses in all sectors of the economy.
TransUnion P.O. Box 6790 Fullerton, CA 92834
Integrity. Service. Reliability. Performance. These are our values and the foundation for our actions and behavior. We are vigilant in our efforts to maintain the accuracy, security and privacy of the information we safeguard. We make the goals of those who count on us, our goals. We are committed to delivering what we promise. And we are committed to continuous process improvement and creative problem solving. An unwavering commitment to these values has made TransUnion a global leader in credit and information management. Our vision is to be recognized as "best in class" by all those we serve—to give consumers and businesses the power to achieve, and in doing so help to build stronger economies, worldwide. We consistently strive to create advantages—economic, competitive, career and life—for the global communities in which we operate.
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