06
May
2010
|
03:19 AM
America/Chicago

TransUnion Africa sells it's Receivables Management business.

  Johannesburg, 6 May 2010 - TransUnion, South Africa's leading credit reporting agency, today announced the sale of its Receivable Management business shares to shareholders Safika Investments and Jagfin Trust. Focusing on third-party collections, these existing shareholders will be rebranding the existing entity to ITC Business Administrators and will continue to harness the Receivables Management business.

This move allows TransUnion's operations in South Africa to focus on its credit and auto databases, advanced analytics and decisioning services. In addition, TransUnion will continue to offer collection solutions and modeling capabilities, but will no longer own and manage operations in the third-party collections space, as that will be led by ITC Business Administrators. TransUnion is the only company within South Africa, in the risk information industry, that develops and manages multiple databases of relevant and current information on consumers, businesses and assets. Its solutions combine sophisticated data and advanced analytics in helping businesses make better objective decisions. In addition, TransUnion offers a diverse range of auto solutions in the areas of risk management, fraud prevention, vehicle valuations and business process enhancement.


"The sale of TransUnion's Receivables Management equity to its existing partners and the repositioning of the business as ITC Business Administrators creates new opportunities for both organisations to better serve our customers. This also enables us to ensure ongoing continuity in this dynamic industry for our current customer base and the market as a whole," said Edward Khoury, Group Chief Executive Officer of TransUnion Africa.


"TransUnion is the leading credit reporting agency in South Africa and has an unprecedented suite of collection solutions experience and modeling capabilities," said Julie Wiggins, CEO of ITC Business Administrators. "This move provides an exciting opportunity for ITC Business Administrators to build upon these and other capabilities in the market as we continue to give our customers the service and return on investment they are accustomed to."


About TransUnion

As a global leader in credit and information management, TransUnion creates advantages for millions of people and businesses around the world by gathering, analysing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. With the local head office in Johannesburg and global headquarters located in Chicago in the US, TransUnion is Africa's oldest and leading provider of data-based business intelligence solutions.


 


Visit www.transunion.co.za or www.mytransunion.co.za for more information.