TransUnion to Utilize the DataRose® EqualXchange Network™
Chicago, October 26, 2009 – TransUnion and DataRose, LLC today announced that TransUnion will offer its collections solutions through DataRose’s EqualXchange Network. The EqualXchange Network facilitates the secure exchange of data between TransUnion and its current and prospective mutual customers of DataRose and TransUnion.
As a participant to the EqualXchange network, joint TransUnion and DataRose customers will benefit from more simplified standard interfaces. Additionally, the EqualXchange Network uses leading-edge technology and a library of interfaces to create secure data exchange processes that are more reliable and scalable while requiring no time or cost to maintain.
"We are always looking for ways to make our data products and services more accessible and cost beneficial to the collections industry,” said Scott Carter, group vice president in TransUnion’s collections group. "The EqualXchange Network enables us to better serve customers, on-board new customers more quickly and reach the entire credit and collections market more efficiently.”
TransUnion helps collectors locate delinquent accountholders, evaluate accounts for greater returns and prioritize accounts to work, place and sell by analyzing current processes and providing collections portfolio solutions. Among the solutions that will be made available through this new channel include Collections Prioritization Engine and Triggers for Collections.
The EqualXchange Network is a single source, web-delivered, solution that facilitates data exchange between data and service providers – credit bureaus, skip tracers, letter vendors, etc. – and the thousands of creditors, collection agencies and law firms they serve. Eliminating the data exchange problem increases customers’ access to a greater number of data driven products and services and reduces current dependencies on everyone’s IT resources to deliver and receive those services.
“The EqualXchange Network is literally changing the way the credit and collections industry operates,” says Jonathan Cleary, DataRose CEO. “This is an industry that relies heavily on secure and efficient exchange of data and services between the appropriate parties. Historically and currently, the suppliers and end users of data and services face many process and technical challenges in delivering and receiving the appropriate and necessary data and services – resulting in inefficiencies and higher costs. The EqualXchange Network gives the industry ’plug-and-play’ data exchange compatibility. Now, it no longer matters that everyone uses different software.”
The EqualXchange Network is the product of four years of development by DataRose and relies on its proprietary data mapping and translation technology known as EqX™. EqX programmatically translates the sender’s data into the receiver’s data format, enabling different software systems to communicate seamlessly as if they were the same software.
As a global leader in credit and information 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 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. Founded in 1968 and headquartered in Chicago, TransUnion employs associates in more than 25 countries on five continents. www.transunion.com/collections