TransUnion Expands Alternative Data Offerings With L2C Acquisition
CHICAGO, IL--(Marketwired - Nov 3, 2014) - Today, TransUnion acquired the Atlanta-based company, L2C, Inc., an early innovator in predictive analytics using alternative data. L2C models are used by a variety of businesses and lending institutions to grow profitable portfolios in financially underserved consumer populations. Financial terms of the deal were not disclosed.
"We are committed to leading the industry with highly predictive risk solutions, and joining forces with L2C is a big step forward," said Chris Cartwright, president of TransUnion's USIS division. "L2C data is a great addition to our alternative data array. When combined with other data such as rental information and our CreditVision® suite of services, it allows us to offer lenders a more complete and accurate picture of non-traditional and underbanked consumers, helping these people get the credit that they deserve."
L2C has a demonstrated record of leveraging unique sources of data to deliver highly predictive models for credit underwriting. "L2C's ability to provide predictive scores on more than 90 percent of consumers without a credit score will be an excellent complement to TransUnion's robust solutions," said Mike Mondelli, CEO of L2C. "Our real-time and off-line behavioral insights afford some of the most sophisticated lenders in the U.S. market an ability to expand their customer base. Now, as part of a growing set of expanded TransUnion data capabilities, thousands of TransUnion customers will be able to access L2C models for improved acquisition, segmentation, and retention decisions."
The L2C acquisition continues nearly 40 years of TransUnion leadership in leveraging its robust data assets to inform decisions and build strong economies throughout the world. In 2012, TransUnion led the industry offering clients and consumers an expanded and historical view of traditional credit with its CreditVision® suite of services. CreditVision® yields a more complete consumer view to help customers accurately assess credit behavior and trends. This acquisition has effectively expanded TransUnion's ability to provide clients with new opportunities for more precise lending decisions and targeted offers to a greater universe of consumers.
Financial Technology Partners (FT Partners) served as exclusive strategic and financial advisor to L2C.
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data, and integrating advanced analytics and enhanced decision-making capabilities. 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. Founded in 1968 and headquartered in Chicago, TransUnion reaches businesses and consumers in 33 countries around the world on five continents. www.transunion.com/business
About L2C, Inc.
L2C is the nation's leading provider of advanced consumer scoring and analytics solutions. L2C leverages alternative payment and asset data to create new predictive credit, marketing, and collection scores for over 220 million Americans. L2C's clients include leading institutions in the financial services, telecommunications, retail, healthcare and collections industries. For more information regarding L2C or its products and services, please visit our website at http://www.L2C.com