Core Insights - TransUnion is a global leader in information and insights, operating in about 30 countries and serving various industries including financial services, insurance, and automotive [1] - The consensus target price for TransUnion has remained stable at $104 over the past year, with Goldman Sachs analyst George Tong setting a slightly higher target of $109, indicating a more optimistic outlook [2][6] Financial Performance - TransUnion is set to release its third-quarter 2025 financial results on October 23, which is highly anticipated by investors and analysts as it may provide insights into the company's performance and future guidance [3][6] Industry Challenges - The recent H2 2025 Update to the Top Fraud Trends Report reveals that businesses have lost an average of 7.7% of their annual revenue to fraud, amounting to $534 billion in losses, highlighting significant challenges in the industry [4][6] Strategic Partnerships - TransUnion's partnership with MMA Global emphasizes the undervaluation of brand marketing's impact on sales, with a new whitepaper suggesting traditional methods have underestimated this impact by up to 83%, which could enhance brand sentiment and drive long-term revenue growth [5]

Core Insights - Marketers' confidence in measurement has plateaued, with 62% expressing some confidence, but over half (54%) report no change in confidence year over year, and 14% indicate a decline [2][3] Measurement Challenges - Internal skepticism is prevalent, with 60% of marketers stating that internal stakeholders question the validity of their metrics, leading to nearly 29% reallocating up to 20% of their marketing budgets due to doubts about measurement accuracy [3][4] - Key barriers to accurate measurement include siloed and incomplete data (49%), cross-channel deduplication issues (48%), and limitations of walled-garden reporting (41%) [5] Strategic Priorities - Proving performance is critical, with 67% of marketers prioritizing incremental ROI, 66% aligning marketing metrics to business outcomes, and 55% improving cross-channel attribution [4] AI Adoption and Budget Trends - With nearly 30% of marketers facing cuts to measurement and analytics budgets, 50% have adopted or plan to adopt AI or machine learning for automating reporting, with data analysis and reporting being the top use case for 40% [6][7] - Dissatisfaction with existing measurement technology (26%) is driving long-term investment, with 47% planning to increase spending on marketing mix modeling (MMM) and 35% expecting to invest more in multitouch attribution (MTA) [7][8] Future of Measurement - The shift from monolithic measurement to AI-enabled data collection and management is emphasized, integrating methodologies like MMM, MTA, and incrementality testing [8]

Core Insights - TransUnion is responding to the FHFA Director's challenge to enhance competition in mortgage credit scoring and reduce borrowing costs for consumers, aiming to benefit millions of American families [1] - The introduction of VantageScore 4.0, which utilizes trended and alternative data, is expected to improve predictive power and financial inclusion, allowing 33 million credit-invisible consumers to be scored [2][6] - TransUnion's new pricing strategy offers VantageScore 4.0 at $4, significantly lower than FICO's recent price increase to $10, promoting lender choice and affordability [9] Company Innovations - TransUnion is the only credit bureau providing 30 months of trended credit data, enhancing the mortgage credit report with alternative data assets like rental and utility tradelines [5] - The TruIQ analytics platform will integrate TransUnion's data into a cloud-native solution, facilitating the adoption of VantageScore and new data assets for lenders [5] - The new approach aims to deliver comprehensive consumer insights, benefiting homebuyers, lenders, and investors by unlocking vital data in the mortgage lending industry [4] Market Impact - VantageScore 4.0 is already utilized by major banks and 3,700 U.S. institutions, with 220 million consumers having direct access to their scores, indicating a strong market presence [6] - The pricing strategy and product enhancements are designed to provide certainty in an industry facing steep annual price increases from competitors, thus supporting lenders in managing their businesses effectively [9]

Core Insights - The analysis from TransUnion highlights a significant rise in fraud-related charge-off losses in auto lending, which are notably higher than those in other consumer credit products, driven by synthetic identity fraud and the emerging threat of credit washing [1][2][3] Fraud Losses in Auto Lending - For loans originated from March to September 2023, average dollar losses due to fraud in auto loans were 21 times greater than in credit cards and six times greater than in unsecured personal loans [2] - The average loss in auto loans was reported at $19,611, significantly higher than the averages for unsecured personal loans ($3,427) and credit cards ($940) [5][6] Characteristics of Auto Fraud - Elevated loss rates in auto lending are attributed to larger loan amounts and evolving tactics by fraudsters, despite lower incidence rates compared to credit cards and unsecured personal loans [3] - Among consumers flagged as likely to be synthetic, those in prime and better risk tiers exhibited a bad rate 12.5 times higher than other consumers, with average balance losses exceeding $22,000 per consumer [4] Credit Washing Dynamics - Credit washing involves consumers fraudulently disputing accurate data to temporarily enhance their credit profiles, creating a misleading impression of borrower credit quality [8][9] - Charge-off rates for credit washers with super prime risk scores were comparable to those for non-credit washers in the near prime tier, indicating a disconnect between perceived and actual risk [10][11] Implications for Lenders - The rise of credit washing complicates the ability of lenders to distinguish between genuine and manipulated credit profiles, particularly among lower-risk credit tiers [13] - Lenders are encouraged to adopt fraud-specific attributes and verification tools to detect anomalies and mitigate potential losses [13]

Core Insights - TransUnion has expanded its partnership with RPM Living to enhance the resident screening process across 188,000 units in RPM's portfolio [1][2] Group 1: Partnership Details - The partnership aims to provide data-driven insights that streamline RPM Living's screening processes, ensuring consistent experiences across its portfolio [2] - Mariana Estrada, Chief Strategy Officer at RPM Living, emphasized that this strategic move reinforces their commitment to data-driven decision making and operational excellence [2] Group 2: TransUnion's Solutions - TransUnion's TruVision™ Resident Screening solution utilizes a proprietary scoring model tailored for the rental housing industry, helping property managers accept more qualified residents and reduce eviction risks [3][4] - Maitri Johnson, SVP at TransUnion, highlighted RPM Living's reputation for innovation and continuous improvement, indicating that the partnership will enhance operations and customer experiences through robust data insights [4] Group 3: Company Backgrounds - RPM Living is recognized as a full-service multifamily property management, investment, and development company focused on creating exceptional rental communities [5] - TransUnion operates globally with over 13,000 associates in more than 30 countries, providing insights that enable consumers and businesses to transact with confidence [6]

Core Insights - TRU Simulation + Training Inc. has entered into an agreement with the US Aviation Academy for the purchase of five Cessna Skyhawk Veris VR Simulators [1] Company Summary - TRU Simulation + Training Inc. is expanding its product offerings by providing advanced simulation technology to the US Aviation Academy [1] - The acquisition of five simulators indicates a growing demand for virtual training solutions in the aviation sector [1] Industry Summary - The aviation training industry is increasingly adopting virtual reality technology to enhance pilot training experiences [1] - The partnership between TRU Simulation + Training Inc. and the US Aviation Academy reflects a trend towards modernization in aviation training methodologies [1]

Core Insights - The trend of reporting rent payments to credit bureaus is increasing, with 13% of consumers having their rent reported in 2025, up from 11% in 2024 [1] - This shift is particularly beneficial for younger consumers, immigrants, and those with limited credit history, as it can lead to lower interest rates and better loan approvals [2][3] Importance of Rent Reporting - Rent reporting provides "credit invisible" consumers with better borrowing opportunities, with nearly 7 million consumers in the U.S. classified as "credit invisible" in 2020 [4] - A 2021 TransUnion analysis indicated that credit scores improved by an average of 60 points when rent payments were included, significantly impacting loan qualification [5] Demographic Trends - Gen Z leads in rent reporting, with 18% reporting their payments in 2025, compared to 16% of millennials, 12% of Gen Xers, and 8% of baby boomers [6] - Younger adults and immigrants are particularly poised to benefit from rent reporting, as traditional credit scoring often excludes them [6]

Core Insights - The Canadian Secure Token Governance Authority (CST-GA) has renewed its partnership with TransUnion to enhance call authentication in the telecommunications industry, aiming to protect Canadian consumers from spoofing and illegal robocalls [1][3] Group 1: Partnership and Agreement - CST-GA announced an agreement with TransUnion to support Canadian telecommunications service providers in the STIR/SHAKEN call authentication ecosystem [1] - TransUnion will continue to act as the Secure Telephone Identity Policy Administrator (STI-PA) and provide system and support services to telecommunications service providers in Canada [2] Group 2: Industry Impact and Consumer Trust - The partnership aims to restore trust in phone calls, especially in light of the rise of AI phone fraud [3] - Research indicates that 77% of Canadians value phone communication for urgent matters, yet 72% have ignored legitimate calls due to safety concerns, and 67% assume incoming calls are unwanted [3] Group 3: Organizational Background - CST-GA is mandated by the CRTC to oversee the STIR/SHAKEN Policy Administrator and Certification Authorities in Canada, focusing on mitigating spoofing and illegal robocalling [4] - TransUnion operates as a global information and insights company, providing services that extend beyond credit into areas like marketing, fraud, and risk management [5][6]

Core Insights - The Canadian Secure Token Governance Authority (CST-GA) has renewed its partnership with TransUnion to enhance the STIR/SHAKEN call authentication ecosystem for Canadian telecommunications service providers [1][3] - TransUnion will continue to serve as the Secure Telephone Identity Policy Administrator (STI-PA) and provide necessary digital certificates for call authentication [2] Group 1: Partnership and Agreement - The renewed agreement aims to support Canadian telecommunications service providers in participating in the STIR/SHAKEN ecosystem [1] - TransUnion has expanded its support to include additional participants in the STIR/SHAKEN call authentication as per a CRTC decision [2] Group 2: Industry Impact - The partnership is expected to help restore trust in phone calls, especially in light of increasing AI phone fraud [3] - Research indicates that 77% of Canadians value phone communication for urgent matters, yet 72% have ignored legitimate calls due to safety concerns [3] Group 3: Organizational Background - CST-GA is responsible for overseeing the STIR/SHAKEN Policy Administrator and Certification Authorities in Canada, focusing on mitigating spoofing and illegal robocalling [4] - TransUnion operates globally, providing insights and information services, and is recognized as a leading credit bureau in Canada [5]

Core Insights - Fraud is causing significant financial losses for businesses globally, with an average loss of 7.7% of annual revenue, equating to approximately $534 billion across surveyed companies [1][2] - In the U.S., the average revenue loss due to fraud is reported at 9.8%, a 46% increase from the previous year, amounting to an estimated $114 billion among surveyed leaders [2] Fraud Types and Impact - The predominant types of fraud causing business losses globally include scam/authorized fraud (24%), synthetic identity fraud (20%), and account takeover (20%) [3][4] - In the U.S., account takeover fraud is the most damaging, responsible for 31% of reported fraud losses, followed by synthetic identity fraud at 24% and scam/authorized fraud at 23% [4] Trends in Fraud - Account takeover fraud has seen a significant increase, with a 21% rise in volume from H1 2024 to H1 2025 and a staggering 141% increase from H1 2021 to H1 2025 [5] - The sophistication of fraud tactics is evolving, necessitating businesses to adopt proactive security measures rather than solely reactive defenses [6] Consumer Awareness and Exposure - Globally, 48% of consumers reported being targeted by various fraud schemes, with a concerning 52% unaware of such attempts [7] - In the U.S., 51% of consumers reported being targeted, with phishing and smishing being the most common types of fraud [8] Regional Insights - Countries like India, South Africa, and Guatemala reported the highest percentages of respondents falling victim to fraud in H1 2025, with specific fraud schemes varying by region [10]