Consumers Can Now Apply for Credit Entirely via Text Message

Consumers seeking even more convenient and relevant credit offers will benefit from TransUnion’s latest enhancements to its Mobile Offers Now^SM solution. The solution removes barriers and friction by helping consumers secure instant access to prequalified credit offers through a completely SMS-enabled mobile experience that includes prefill capabilities to simplify and expedite the application.

By simply texting a key word to a short code, the fast and easy mobile experience allows consumers to immediately find relevant, prequalified credit offers. Consumers can then quickly complete the application process via text, removing a dependency on lengthy forms and traditional application processes.

“A seamless digital experience has become the norm for consumers in many aspects of their life and they are expecting the same experience when choosing and managing their financial relationships,” said Dane Mauldin, chief product officer at TransUnion. “To stay competitive, financial institutions must meet the needs and wants of consumers. Adopting new channels and improving digital capabilities are necessary for attracting and retaining customers who demand access and convenience.”

Mobile Offers Now is powered by a combination of TransUnion DecisionEdge®, and a partnership with iLendx to provide consumers with a secure, fast and easy digital experience. Mobile Offers Now includes the following TransUnion capabilities:

• TransUnion DecisionEdge: An integrated suite of decisioning solutions, Mobile Offers Now leverages TransUnion DecisionEdge, coupled with the financial institution’s unique business rules, for real-time identity and credit decisioning.

• Find My Offer^SM: For organizations that prefer an online application process, Mobile Offers Now with Find My Offer provides consumers with the same seamless experience through a branded microsite that matches the look and feel of the lender’s website.

• Find My Offer Verified Prefill^SM: Integrated with TransUnion’s IDVision^SM suite, this optional capability allows lenders to utilize known information on a consumer for identity verification purposes. Once digital and identity verification are completed, their personal information will be pre-populated for consumers to confirm.

“These enhanced capabilities of Mobile Offers Now offer a benefit to both lenders and consumers. Consumers can streamline their search for credit offers through an easy SMS process and can then quickly complete the application digitally—either online or via text. Meanwhile, this solution enables lenders to process applications faster, realize revenue more quickly, and reduce origination costs. It’s a win-win situation,” added Mauldin.

For more information on Mobile Offers Now and TransUnion’s digital lending suite of solutions, please visit: https://www.transunion.com/solution/digital-lending

About TransUnion (NYSE:TRU)

Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.

We call this Information for Good^SM.

http://www.transunion.com/business

About iLendx, LLC.:

Based in Texas, the team at iLendx creates innovative digital lending and banking capabilities for financial institutions. As a strategic partner of TransUnion, iLendx, co-developed Mobile Offers Now^SM a platform that delivers credit offers directly to a bank’s customers through mobile device technology. iLendx is also the creator of the Digital Lending Experience (DLX), a subscription based platform for financial intuitions which revolutionizes the origination of auto loans, credit cards, unsecured loans, HELOCs and new account opening for checking & savings products. DLX is used by large institutions like AAA, credit unions and community banks like Broadway National. www.iLendx.com