TransUnion Approved by Banco Central to Operate as a Credit Bureau in Brazil
With the registration to act as Database Manager, the company adds global solution offerings to its portfolio and will expand its operations in the local market
The Banco Central (Brazilian Central Bank) has approved TransUnion, a global information and insights provider, to operate as a credit bureau in Brazil. The company will now be able to grow in this market, making trust possible between businesses and consumers, expanding its local operations and bringing its global expertise, including the operation of credit bureaus in the United States, Colombia, India, and the United Kingdom – countries that already operate with credit scores and complementary data.
"Our purpose is to help improve people's quality of life by delivering information intelligence to businesses and empowering consumers. This is how we contribute to building trust between parties to drive decision-making power in our country and the world. The authorization is a great step that allows us to expand Brazilian consumer access to goods and services that until now were usually denied to them," said Juarez Zortea, president of TransUnion Brazil.
Currently, the operation is in the implementation phase. With the approval of Banco Central, TransUnion is now entitled to receive consumer data according to current legislation. TransUnion expects to offer new solutions that bring innovations, including more powerful data analysis and credit assessment, starting in the third quarter of 2022. In this new reality, the company will significantly expand its operations in Brazil, complementing the existing product offering with solutions that are already established and successful in other markets.
"Based on this registration and new operating model, TransUnion will be able to locally expand its innovative way of working with information and data insights. We believe in innovation through technology, in the power of data as a source of opportunities for transforming information into a safe, efficient, and accessible mechanism to sustain an exponential economy. We do this by representing people fairly and unlocking a universe of potential consumers for organizations," says Claudio Pasqualin, Director of Business Development at TransUnion Brazil.
TransUnion has just completed ten years of operating in Brazil. Since arriving in the country in 2012, TransUnion has been working with its clients – financial institutions, insurance companies, retail, telecom, FinTechs, e-commerce, industries and SMBs – with solutions that address the company's purpose of enabling access to goods and services suitable for each person, with agility and without increasing risk. The possibility of adding the inclusive potential of credit scoring to the business model of TransUnion Brazil opens a range of opportunities, which will positively impact its customers and, consequently, consumers and the economy of the country.
TransUnion is a global information and insights company that brings confidence for businesses and consumers to seek great achievements in the modern economy.
We do this by providing a multidimensional look of each person so that they can be represented reliably and safely in the market, enabling greater financial inclusion. As a result, businesses and consumers can conduct transactions with confidence, helping to achieve great results. We call this Information for Good®.
TransUnion got our start more than 50 years ago, and today has a presence in more than 30 countries and five continents. TransUnion has operated in Brazil since 2012, with the goal of “Helping to Improve the Quality of Life of People.” The company creates economic opportunities and empowers consumers, assisting hundreds of millions of people in segments including Financial Services, Insurance, Telecommunications, Retail, FinTechs, Industries and SMB.
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